Gloomy Earnings Doom Dow Jones Industrial Average

Why Analysts Expect Tesla to Tank

by Josh Selway

Published on Jul 21, 2015 at 4:27 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (DJIA) couldn't overcome the weight of several poorly received earnings numbers, as the blue-chip barometer spent the session down triple digits. The tech-heavy Nasdaq Composite (COMP) was also pulled lower, and moved away from its recent highs despite a strong start. One thing that didn't change, though, was the sell-off in gold. However, even with today's slide, there are plenty of big-cap earnings on the horizon that could turn things around. 

 

Continue reading for more on today's market, including:

 

 

The Dow Jones Industrial Average (DJIA - 17,919.29) spent the day in the red, surrendering 181.1 points, or 1%, to fall below 18,000 for its lowest close since July 10. Only four of the 30 Dow components closed higher, led by Travelers Companies Inc (NYSE:TRV), which added 1.8%. The notable losers were IBM (NYSE:IBM) and United Technologies Corporation (NYSE:UTX), posting respective post-earnings losses of 5.9% and 7%. 

 

The S&P 500 Index (SPX - 2,119.21) moved 9.1 points, or 0.4%, lower, while the Nasdaq Composite (COMP - 5,208.12) stepped back from its record highs to close 10.7 points, or 0.2%, in the red. 

 

The CBOE Volatility Index (VIX - 12.22) traded on both sides of breakeven, but eventually ended fractionally lower, down 0.2%. 

 

150721recap1

 

150721recap2

 

 

5 Items on Our Radar Today:

 

  1. Donald Trump managed to make headlines again, after the Republican presidential candidate announced South Carolina Sen. Lindsey Graham's personal phone number during a speech. Trump is already under scrutiny for comments he made about Arizona Sen. John McCain. (CNN)
  2. In other political news, Ohio Gov. John Kasich announced his candidacy for the White House. Kasich becomes the 16th GOP candidate in the running for president. (The Associated Press)
  3. Can Apple Inc. (NASDAQ:AAPL) live up to earnings expectations? 
  4. What about Amazon.com, Inc. (NASDAQ:AMZN)? 
  5. The options market is pricing in a huge move from this Internet stock prior to earnings. 

 

150721recap3

 

150721recap4

 

150721recap5

 

Commodities:

 

Crude oil enjoyed a slight gain today, as the dollar finally cooled. Oil for August delivery added 21 cents, or 0.4%, to close at $50.36 per barrel. 

 

It was more of the same for gold, though, as the August contract fell $3.30, or 0.3%, to settle at $1,103.50 per ounce -- a fresh five-year low. It was the ninth session in a row the precious metal moved lower. 

 


A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

Access your FREE insider report before it's too late!


  
 
 

Partnercenter