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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2018
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2018
On Monday, trade worries were put on hold as investors looked towards the upcoming second quarter earnings season with optimism. The Dow Industrials rose 320 points, with bank stocks doing particularly well.
On Tuesday, the JOLTS jobs report for May fell 3% to 6.64 million job openings, however, the number is still very strong as the previous month was a record high. Markets continued gaining with the Dow Industrials finishing up 143 points.
On Wednesday the producer price index for June increased .3%, compared to the prior month’s .5% gain. Year over year, the producer price index is up 3.4%. The EIA petroleum status report for the week ending July 6th saw crude oil inventory decline a steep 12.6 million barrels, 18.2% below their level a year ago. The Trump administration published a list of proposed new tariffs on 0 billion worth of Chinese goods and this was enough to snap the market winning streak. The Dow Industrials ended the day down 219 points and West Texas Intermediate crude fell 4.7% to .67 a barrel.
On Thursday the consumer price index for June rose .1% on top of the prior month’s .2% rise. Jobless claims for the week ending July 7th fell 18,000 to 214,000. Tech stocks surged and the Nasdaq Composite rose 1.4% to close at a record high, while the Dow Industrials ended the day up 224 points.
On Friday import prices for June fell .4% compared to the prior month’s .9% gain, and export prices rose .3% on top of the prior month’s .6% gain. Markets opened mixed as some banks reported disappointing results. Now let’s take a look at some stocks.
Twitter, Inc. (NYSE: TWTR) shares fell over 5% on Monday after The Washington Post reported that the social media company has suspended more than 70 million accounts in May and June. The continuing crackdown on fake accounts may result in a rare decline in the number of monthly users in the second quarter, according to a Washington Post source. Twitter had 336 million active users at the end of the first quarter.
PepsiCo, Inc. (NASDAQ: PEP) on Tuesday reported fiscal second-quarter revenue and earnings that beat analysts’ estimates, sending its shares up 4.7%. The Company said net revenue rose 2.4% to .1 billion during the quarter and organic revenue grew 2.6%. Operating profit jumped 61% in Asia, the Middle East and North Africa, driven by effective net pricing and planned cost reductions.
Fastenal Company (NASDAQ: FAST) announced Wednesday morning, its financial results for the quarter ended June 30th. Net sales increased 6.4 million, or 13.1% year-over-year, and gross profit, as a percentage of net sales, declined 1.1% to 48.7%. Fastenal Company reached a new high of .74 per share post announcement.
Delta Air Lines, Inc. (NYSE: DAL) reported Thursday morning, financial results for the 2nd quarter. The company’s adjusted operating revenue of .6 billion improved 8% compared to the prior year. Delta generated .8 billion of operating cash flow and .4 billion of free cash flow during the quarter.
CA Technologies and Broadcom Inc. (NASDAQ: CA) announced on Wednesday that they have entered into an agreement under which Broadcom will acquire CA to build one of the world’s leading infrastructure technology companies. CA’s shareholders will receive .50 per share in cash. CA Technologies shares surged to over on Thursday.
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LIVE – Floor of the NYSE! July 13, 2018 Financial News – Business News – Stock News – Market News