Stocks skid for second month; Dow falls 250 pts – Yahoo Finance
The downward momentum for the markets comes following the release what to invest in right now of a report from the Commerce Department showing that the pace of U.S. economic growth slowed more than expected in the final three months of 2014. The report said U.S. gross domestic product climbed by 2.6 percent in the fourth quarter following the 5.0 percent jump seen in the third quarter. Economists had been expecting GDP to increase by a somewhat more substantial 3.2 percent.
Stocks keep falling after GDP miss – Yahoo Finance
Sector News Airline stocks continue to turn in some of the market’s worst performances in mid-day trading, with the NYSE Arca Airline Index tumbling by 4.1 percent. With the drop, the index is pulling back further off the twelve-year highs it set on Monday. Hawaiian Airlines parent Hawaiian Holdings ( HA ) has led the sector lower, plunging by 26.6 percent after forecasting a drop by a key revenue figure in the first quarter. Considerable weakness also remains visible among software stocks, which are extending a recent sell-off.
Stocks Remain Mostly Negative In Mid-Day Trading – U.S. Commentary – NASDAQ.com
Weaker business spending and increased imports were to blame. The news comes asthe S&P 500 swings between long-term support around 2000, where it bounced sharply yesterday, and resistance around 2065. Today’s sellers are looking past strong quarterly results from companies such as Visa and Amazon.com. V is up 4 percent after beating estimates and announcing a 4-for-1 stock split. AMZN is surging 11 percent after profit blew past consensus.
The Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) fell 251.90 points, or 1.5 percent, to 17,164.95. The payment processor jumped more than 4 percent after reporting a better-than-expected quarterly profit late Thursday.The S&P 500 ( ^GSPC ) declined 26.26 points, or 1.3 percent, 1,994.99; consumer discretionary leading losses and energy the sole sector in 10 gaining. The Nasdaq ( ^IXIC ) shed 48.17 points, or 1 percent, at 4,635.24.For every share rising, two declined on the New York Stock Exchange, where 1.2 billion shares traded. Composite volume neared 4.5 billion. Crude futures (New York Mercantile Exchange: @CL15H) rose $3.71, or 8 percent, to $48.24 a barrel, and gold futures (CEC:Commodities Exchange Centre: @GC15G) climbed $23.90, or 2 percent, to $1,278.50 on the New York Mercantile Exchange.The U.S.