It was a broad sell off across the board in the US stock market. Every Dow stock was lower.
The largest decline was Intel with an additional decline of -6.40%. Apple fell -4.85% and Amazon fell -4.07%. The days of Intel in the Dow 30 is likely limited after its fall from grace over the last few years.
Meanwhile, in the S&P every S&P sector was lower led by information technology at -3.78% and Telecommunications at -3.36%.
Information Technology: -3.78%Consumer Discretionary: -3.36%Consumer Staples: -3.07%Telecommunication Services: -2.95%Financials: -2.90%Energy: -2.69%Utilities: -2.69%Industrials: -2.28%Real Estate: -2.01%Health Care: -1.94%Materials: -1.72%
The final numbers for the major indices shows:
Dow Industrial Average average fell -1033.99 points or 2.60% at 38703.26S&P index fell -160.21 points or -3.00% at 5186.34.NASDAQ index fell by -576.08 points or -3.43% at 16200.08
The Russell 2000 fell -70.14 points or -3.33% at 2039.16
After close
Palantir Technologies Inc (PLTR) 02 2024 (USD):
Adj. EPS: 0.09 (beat, expected 0.08)Revenue: 678.1 mln (beat, expected 650 mln)
Lucid Group (LCID) 02 2024 (USD):
Adj. EPS: -0.29 (missed, expected -0.26)Revenue: 0.20 bln (beat, expected 0.19 bln)
CSX Corp (CSX) 02 2024 (USD):
EPS: 0.49 (beat, expected 0.48)Revenue: 3.7 bln (met expectations, expected 3.7 bln)
The Palantir earnings is catching attention and shares are up 16.44% in after hours trading. Lucid shares are up 13.33% after their earnings.
This article was written by Greg Michalowski at www.forexlive.com.
