Stock Market Watch

Stocks End Lower on Fed’s Assessment of the Economy, Apple Earnings

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Stocks ended lower in trading today after the Federal Reserve provided a downbeat assessment of the U.S. economy in its beige book. Investors’ sentiment was also weighed down by weaker than expected quarterly results from technology giant Apple Inc. (NASDAQ: AAPL). Meanwhile, investors continued to monitor the developments in the euro zone.

The Dow Jones ended the day 0.63% lower at 11,504.62, the S&P 500 ended the day 1.26% lower at 1,209.88, and the Nasdaq ended the day 2.01% lower at 2,604.04.


Basic Materials stocks led the losses in the S&P 500 in trading today. Basic Materials stocks ended the day 3.30% lower. Technology stocks were dragged lower by Apple. Technology stocks ended the day 2.20% lower. Energy stocks ended the day 1.26% lower, while Industrials ended the day 1.33% lower. Financials ended the day 1.48% lower.

Among the major losers in trading today were Apple, which ended the day 5.59% lower at $398.62, Wynn Resorts Limited (NASDAQ: WYNN), which ended the day 5.36% lower at $130.27, Western Digital Corporation (NYSE: WDC), which ended the day 9.28% lower at $24.44, and Checkpoint Systems Inc. (NYSE: CKP), which ended the day 21.46% lower at $11.31.

Among the major gainers in trading today were Abbott Laboratories (NYSE: ABT), which ended the day 1.54% higher at $53.25, Morgan Stanley (NYSE: MS), which ended the day 0.06% higher at $16.64, and Intel Corporation (NASDAQ: INTC), which ended the day 3.59% higher at $24.24.

Earlier today, European markets ended mostly higher, with the FTSE 100 Index in London closing 0.74% higher at 5,450.49 and the CAC 40 Index in Paris closing 0.52% higher at 3,157.34. In Asia, the Hang Seng Index closed 1.29% higher at 18,309.22 higher, while the Shanghai Composite Index closed 0.23% lower.

 

edliston
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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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.

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