bostonangler Posted October 23, 2018 Report Share Posted October 23, 2018 24,887.00-407.00 (-1.61%) As of 8:28AM EDT. Market open. You might want to rebalance your 401K before the big dump... B/A Quote Link to comment Share on other sites More sharing options...
bostonangler Posted October 23, 2018 Author Report Share Posted October 23, 2018 Stock futures tank, Dow sheds more than 400 points U.S. equity futures took a nosedive in early trading Tuesday, following a rout in global stocks. Dow (^DJI) futures slid 1.62%, or 410 points, as of 7:58 a.m. ET, as major manufacturers Caterpillar and 3M posted disappointing financial results. Futures for the S&P 500 (^GSPC) fell 1.49%, or 41 points, setting the index up for its fourth consecutive day of declines. The Nasdaq (^IXIC) slipped 1.77%, or 126.50 points. “US futures are under sharp pressure on a cocktail of geopolitical angst (Russia, Saudi, Italy, and of course China trade) coupled with heavy “Sell the News” from earnings, and tax loss selling accelerating” into fiscal year-end distributions by mutual funds next week, David Lutz, managing director of JonesTrading, wrote in a note Tuesday. European and Asian stocks struggled Tuesday as geopolitical tensions weighed on overseas markets. The Stoxx 600 in Europe fell 1.28% to 355.14, after falling to its lowest level since December 2016 in early morning trade. The FTSE 100 declined 0.91% to 6981.88 points. Concerns on Brexit negotiations and friction between the European Union and Italy over the country’s budget deficit have weighed on sentiments. In Greater China, the Shanghai composite slid 2.26%, while the Shenzhen composite fell 1.92%. Japan’s Nikkei 225 closed down 2.67%. Investors turned to safe haven investments, with prices of the Treasuries, gold and the yen rising during early trading Tuesday. Bond prices move inversely to yields. STOCKS: Manufacturing stocks Caterpillar, 3M disappoint Caterpillar (CAT) posted disappointing full-year guidance even as the company delivered revenue and profits that topped analysts’ expectations. Revenue gained 18% to $13.5 billion, versus average expectations of $13.3 billion from Wall Street. Earnings came in at $2.86 per share, a penny better than expected. However, Caterpillar noted that manufacturing costs were higher due to increased material and freight costs, and material costs rose along with increases in steel prices and tariffs. Caterpillar, a major player in global industrialization is largely viewed as an economic bellwether, and investors look to the company for signals of fallout from the trade war. Shares of Caterpillar slid 6.38% to $120.50 as of 8:03 a.m. ET. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 11, 2018. REUTERS/Brendan McDermid More 3M (MMM) downwardly revised its forecast for annual profits, sending shares of the mixed manufacturer tumbling in early trading. The company trimmed its outlook for the third time this year, providing guidance for adjusted earnings of $9.90 to $10 per share in 2018, down from a forecast of $10.20 to $10.45 per share previously. Sales in the consumer division fell 3.4%, while health care sales declined 2.8%. The company delivered GAAP earnings of $2.58 per share on revenue of $8.15 billion, versus average analyst expectations of earnings of $2.71 per share on revenue of $8.4 billion. The stock fell 6.78% to $187.70 per share as of 8:19 a.m. ET. McDonald’s (MCD) beat Wall Street expectations on both the top and bottom lines, but missed in domestic same-store sales. The company delivered earnings of $2.10 per share, 11 cents better than average analyst expectations. Domestic same-store sales missed slightly at 2.4% versus expectations of 2.5%, while international same-store sales grew 4.2% above consensus of 3.7%. Shares of McDonalds rallied 2.02% to $170 per share as of 8:24 a.m. ET. United Technologies (UTX) reported quarterly profits that beat average analyst expectations and raised its full-year 2018 profit forecast, citing strong demand for jet engines and airplane parts. The company delivered third-quarter sales of $16.5 billion, up 10% from the prior year. United Technologies bumped up its forecast for adjusted profit to $7.20 to $7.30 per share in 2018, versus previous guidance of $7.10 to $7.25, the company said in a statement. Shares rose 0.46% to $127 per share as of 8:02 a.m. ET. Verizon (VZ), the parent company to Yahoo Finance, delivered quarterly profit and revenue above expectations. Third-quarter net income rose to $5.06 billion, or $1.19 per share, from $3.74 billion, or 89 cents per share, in the year-ago quarter. Total revenue increased 2.8% to $32.61 billion. The stock rose 0.58% to $55.28 per share as of 8:26 a.m. ET. https://finance.yahoo.com/news/stock-futures-tumble-dow-sheds-400-points-120653023.html We have been warned. B/A Quote Link to comment Share on other sites More sharing options...
bostonangler Posted November 15, 2018 Author Report Share Posted November 15, 2018 The DOW just cracked 25,000... This is looking to be the correction we've been warned about. B/A 1 Quote Link to comment Share on other sites More sharing options...
bostonangler Posted December 5, 2018 Author Report Share Posted December 5, 2018 Ouch... B/A Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted December 5, 2018 Report Share Posted December 5, 2018 Sure does BA Quote Link to comment Share on other sites More sharing options...
bostonangler Posted December 11, 2018 Author Report Share Posted December 11, 2018 Lower highs and lower lows... 24,370 today... B/A Quote Link to comment Share on other sites More sharing options...
bostonangler Posted December 21, 2018 Author Report Share Posted December 21, 2018 Looks like it could be another down day... Futures are in the red. B/A Quote Link to comment Share on other sites More sharing options...
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