«Breaking News» U.S. stocks plunge sharply with the Dow down 660 points

U.S. stocks fell sharply on Thursday with the Dow closing 660 points down after Apple Inc stunned investors with its first sales warning in more than a decade, deepening fears about a slowdown in China's economy and its impact on corporate profits.

Based on the latest available data, the Dow Jones Industrial Average fell 660.02 points, or 2.83 percent, to 22,686.22, the S&P 500 lost 57.19 points, or 2.28 percent, to 2,452.84 and the Nasdaq Composite dropped 185.10 points, or 2.78 percent, to 6,480.84. 

Apple sank 10 percent after the company slashed its holiday-quarter revenue outlook due to slowing iPhone sales in China, sparking fresh concerns over the fallout from the Sino-U.S. trade war ahead of the U.S. earnings season. 

U.S. stocks fell sharply on Thursday with the Dow closing 660 points down 

Apple sank 8.5 percent after the company slashed its holiday-quarter revenue outlook due to slowing iPhone sales in China

The S&P technology sector dropped 3.47 percent, leading declines on the S&P 500. 

Chipmakers, which count both Apple and China as major customers, weighed the most on the sector. iPhone suppliers including Qorvo Inc, Advanced Micro Devices and Skyworks Solutions Inc fell more than 7 percent.

The Philadelphia Semiconductor index slumped 4.13 percent.

'Apple reiterates worries that China and trade issues have not been resolved,' said Robert Pavlik, chief investment strategist, senior portfolio manager at SlateStone Wealth LLC in New York.

'People are worried that if a big name such as Apple has to report a decline in earnings, who else can be protected from something like that.'

Apple's warning rocked financial markets, as investors sought safety in bonds and less risky assets. Sectors perceived as bond-proxies including utilities, consumer staples and real estate were the only gainers on the S&P 500.

Apple's slide is a gloomy omen for Wall Street bulls hoping for an early gift in 2019 following December's steep selloff.

Though the selloff has made stocks cheaper, with the S&P 500's valuation now at 14 times expected earnings from 18 times a year earlier, earnings estimates have also been sharply cut.

U.S. stocks fell sharply on Thursday after Apple Inc stunned investors with its first sales warning in more than a decade. Pictured above is Wall Street trader Michael Milano

Analysts on average expect S&P 500 companies to increase their earnings per share by nearly 7 percent this year, down from a forecast of 10 percent at the start of October and far below their expectations of 24 percent EPS growth for 2018, according to Refinitiv's IBES.

Apple's warning follows data earlier this week that showed a deceleration in factory activity in China and the euro zone, indicating the ongoing U.S.-China trade dispute was taking a toll on global manufacturing.

The Institute of Supply Management data showed on Thursday that U.S. factory activity slowed more than expected in December. The ISM index of national factory activity fell to 54.1 in December, falling short of economists' estimate of 57.9.

The trade-sensitive industrials sector fell 1.4 percent, with trade bellwethers Boeing Co and Caterpillar Inc dropping over 2 percent each.

Markets had taken some comfort from the ADP National Employment Report which showed U.S. private sector jobs rose far more than expected in December.

Celgene Corp jumped 28 percent, providing the biggest boost to the S&P 500, after Bristol-Myers Squibb Co offered to buy the drugmaker for about $74 billion in a cash-and-stock deal. Bristol-Myers fell 12.6 percent.

Declining issues outnumbered advancers for a 1.84-to-1 ratio on the NYSE and a 2.47-to-1 ratio on the Nasdaq.

The S&P index recorded no new 52-week highs and 7 new lows, while the Nasdaq recorded no new highs and 15 new lows.

Link hienalouca.com Interesting to note Looking for an investor or sponsor for a project to grow dinosaurs and relict plants. Requires the sum of investments from 400000$ to 900000$. The exact amount can not say because there are many nuances. It will be necessary to build a small laboratory with certain parameters. To all interested persons please write on an email angocman@gmail.com . It is the scientific project and I do not know whether it is possible to earn on it. The probability of success of the project is approximately 60%. That will be very interesting.

https://hienalouca.com/2019/01/04/u-s-stocks-plunge-sharply-with-the-dow-down-660-points/
Main photo article U.S. stocks fell sharply on Thursday with the Dow closing 660 points down after Apple Inc stunned investors with its first sales warning in more than a decade, deepening fears about a slowdown in China’s economy and its impact on corporate profits.
Based on the latest available data, the...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves US News HienaLouca





https://i.dailymail.co.uk/1s/2019/01/03/17/8096814-6554099-image-a-77_1546536811470.jpg