Stock Market Update Tuesday, April 28th, 2020
Stocks dropped for the first time in 4 days, with tech stocks leading the major indices lower.
At one point the S&P was up 1.5%. But after a strong start, stocks quickly dropped.
The major indices were in a free fall pretty much all morning, erasing early gains and turning negative for the day.
There was a bit of a bounce in the afternoon. But another slide in the last 15 minutes of trading left stocks near session lows.
Here’s where the major indices ended the day:
- The S&P finished with a 0.5% loss. Down 15 points, the S&P ended at 2,863.
- The DOW ended 0.1% lower. Dropping 32 points the DOW closed at 24,102.
- The NASDAQ was down 1.4%. With a 122 point loss, the NASDAQ finished at 8,608.
Crude Oil (CL) dropped for the 2nd day in a row. With a 1.7% loss, Crude Oil ended the day at $12.56 a barrel.
Tech stocks led the way lower today.
Alphabet (GOOGL) lost 3.0% with earnings scheduled to be released after the bell. But after reporting better than expected revenue growth, GOOGL is up over 8.0% in after-hours trading.
Ford (F) reported a $2 billion first quarter loss today. The stock was up 4.1% at the close but is down more than 6.0% in after-hours trading.
We still have more big tech names reporting earnings this week. Including: Facebook (FB), Microsoft (MSFT), Amazon (AMZN), and Apple (AAPL).
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
This Stock Market Update was provided by Rockwell Trading Services LLC.