Stocks End Lower for a Second Consecutive Day
Stocks fell in trading today, extending their losses from Tuesday as some weak corporate guidance weighed down investors’ sentiment.
The Dow Jones ended the day 0.19% lower at 13,077.34, the S&P 500 ended the day 0.31% lower at 1,408.75, and the Nasdaq ended the day 0.29% lower at 2,981.70.
Transportation sector was the worst performer in the S&P 500 in trading today, ending the day 0.95% lower. Technology sector also fell sharply, ending the day 0.35% lower. Consumer Cyclical sector ended the day 0.31% lower. Energy sector ended the day 0.38% lower, while Basic Materials sector ended the day 0.24% lower. Healthcare sector was the best performer in the S&P 500 today, ending the day 0.01% higher.
Facebook Inc. (NASDAQ: FB) shares rallied in trading today as investors cheered the company’s third-quarter financial results, which beat Street estimates. FB shares rose to an intra-day high of $24.25 in trading today before finishing the day 19.13% higher at $23.23.
Other major gainers and losers in trading today were Netflix Inc. (NASDAQ: NFLX), which ended the day 11.88% lower at $60.12, Monster Beverage Corp. (NASDAQ: MNST), which ended the day 16.77% higher at $47.97, United Therapeutics Corp. (NASDAQ: UTHR), which ended the day 15.56% lower at $44.99, and Panera Bread Co. (NASDAQ: PNRA), which ended the day 5.05% higher at $168.43.
On the economic front, a report from the Commerce Department showed that new home sales rose in the month of September, hitting the highest level since April 2010.
Earlier today, the interest rates low to boost economic growth.
European markets ended mostly higher today even as investors digested disappointing economic data from Germany. The FTSE 100 Index in London ended the day 0.12% higher at 5,804.78, and the CAC 40 Index in Paris ended the day 0.59% higher at 3,426.49. Asian markets ended on a mixed note overnight, with the Nikkei 225 Index in Japan closing 0.67% lower, and the Hang Seng Index in Hong Kong closing 0.31% higher.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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