Hello traders everywhere. The U.S. stock market is posting its most significant decline in 10 weeks after a batch of lackluster earnings reported today. Turmoil over President Trump’s tax reform bill has retaken center stage giving traders reason to take pause.
Some of the notable earnings today are:
AT&T (T) earnings sent the U.S. No. 2 wireless carrier shares down as much as 4.2%, dragging down the S&P 500 index.
Boeing (BA) surprised investors by revealing a $329 million charge for its troubled KC-46 aerial refueling tanker program in quarterly results. Its shares fell over 4%.
AMD (AMD) shares fell 13% after the chipmaker flagged competitive pressures with a forecast that pointed to a drop in revenue in the fourth quarter from the third.
Chipotle (CMG) plunged 15% after the burrito chain posted disappointing sales and earnings.
Among gainers was Anthem (ANTM), which rose over 5% after reporting better-than-expected profit.
Northrop Grumman (NOC) jumped about 4% before backing off that high after the defense contractor raised full-year profit forecast and reported higher quarterly profit and revenue, boosted by strength in its aerospace business.
Key levels to watch next week:
S&P 500 (CME:SP500): 2,520.40
Dow (INDEX:DJI): 22,416.00
NASDAQ (NASDAQ:COMP): 6,484.14
Gold (NYMEX:GC.Z17.E): 1,285.30
Crude Oil (NYMEX:CL.Z17.E): 51.55
U.S. Dollar (NYBOT:DX.Z17.E): 92.59
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
