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27 Jan 2015
US stocks falls hard as weak earnings fueled concerns over USD strength
FXStreet (San Francisco) - US stocks market closed sharply lower on Tuesday as investors were reluctant to take risks after disappointing earnings reports from Caterpillar $CAT, Microsoft $MSFT and Procter and Gamble $PG that also showed concerns about the strong US dollar.
Tuesday was the worst day in 3 weeks for the dow; while the biggest single day lost since October for the Nasdaq Composite. Most sectors finished Tuesday down for the day.
The Dow Jones recovered from more than 300 points decline to close 'just' 1.65% negative on the day at 17,387.21; the Nasdaq Composite close 1.89% down at 4,681.50; while the S&P 500 was 1.34% down to 2,029.55. Small caps in the figure of the Russell 2000 lost 0.51% to 1,194.66.
Only two sectors were positive on the day as Energy shares rose 0.26% while Utilities closed 0.15% positive on the day. Laggards were Technology (-2.35%), Inustrials (-1.27%) and Consumer Staples (-0.84%).
Top gainers were Banco Bradesco $BBDO that rebounded from yesterday's decline and rose 8.14%; Petrobras $PBR.A (+4.59%); and Novartis $NVS (+2.51%). Big losers on the day were Microsoft $MSFT, that collapsed 9.31% after a weaker earnings release and analysts downgrades; Apple $AAPL (-3.58%); and Google $GOOG (-3.09%).
After hours, AT&T $T reported Q4 EPS of 0.55, better than $0.54 expected; Yahoo $YHOO informed Q3 EPS of $0.30, better than $0.29 expected. Market is focused now on Apple earnings report (EPS $2.59 expected) with a lot of options ready to play after the release.
Tuesday was the worst day in 3 weeks for the dow; while the biggest single day lost since October for the Nasdaq Composite. Most sectors finished Tuesday down for the day.
The Dow Jones recovered from more than 300 points decline to close 'just' 1.65% negative on the day at 17,387.21; the Nasdaq Composite close 1.89% down at 4,681.50; while the S&P 500 was 1.34% down to 2,029.55. Small caps in the figure of the Russell 2000 lost 0.51% to 1,194.66.
Only two sectors were positive on the day as Energy shares rose 0.26% while Utilities closed 0.15% positive on the day. Laggards were Technology (-2.35%), Inustrials (-1.27%) and Consumer Staples (-0.84%).
Top gainers were Banco Bradesco $BBDO that rebounded from yesterday's decline and rose 8.14%; Petrobras $PBR.A (+4.59%); and Novartis $NVS (+2.51%). Big losers on the day were Microsoft $MSFT, that collapsed 9.31% after a weaker earnings release and analysts downgrades; Apple $AAPL (-3.58%); and Google $GOOG (-3.09%).
After hours, AT&T $T reported Q4 EPS of 0.55, better than $0.54 expected; Yahoo $YHOO informed Q3 EPS of $0.30, better than $0.29 expected. Market is focused now on Apple earnings report (EPS $2.59 expected) with a lot of options ready to play after the release.