In Dow Jones news today, stock prices fell as the Senate passed a bill that would place new sanctions on Russia.
Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
|Index||Closing||Point Change||Percentage Change|
Now here’s a closer look at today’s most important market events and stocks, plus Friday’s economic calendar.
The Five Top Stock Market Stories for Thursday
- European finance ministers debated another round of debt relief for the embattled Greek economy and decided to offer a bailout of 8.5 billion euros ($9.5 billion). Greece’s current bailout program is the third effort by international finance leaders since the nation fell into economic calamity in 2010.
Must See: This Great Depression-Era “Secret” Helped Transform Two Teachers into Millionaires. Read more…
Liquidity moves markets!Click here to learn how you can follow the money.
- Crude oil prices cratered and hit a seven-month low on news of a huge spike in U.S. gasoline inventory levels and expectations that OPEC will not be able to balance supply and demand. Crude oil prices are now off more than 12% since May 25. The WTI crude oil price today fell 0.7%. Brent crude dipped 0.2%.
- Bitcoin prices fell more than 4% today and hit $2,379.59 per unit. In early June, we explained that Bitcoin’s meteoric rise was reminiscent of Tulip Mania in the 17th century. Here’s what you need to know.
- It was another bad day for tech stocks. Shares of Facebook Inc. (Nasdaq: FB), Apple Inc. (Nasdaq: AAPL), Microsoft Corp. (Nasdaq: MSFT), and Amazon.com Inc. (Nasdaq: AMZN) all fell during the day.
- We warned you to steer clear of Snap Inc. (NYSE: SNAP), the owner of social media giant Snapchat. The company, which has never been profitable and experienced slowing user growth, just fell below its IPO price of $17.00 per share for the first time. Shares fell more than 4% on the day as investors grow more bearish about the company’s growth prospects.
Four Stocks to Watch Thursday: NKE, BOBE, KR, AMZN
- Shares of Nike Corp. (NYSE: NKE) fell more than 3% after the global shoe and apparel giant announced plans to cut 2% of its global workforce. Nike also plans to reorganize its global manufacturing operations. The announcement isn’t all bad news. The organization is looking to streamline its operation processes in order to keep up with swelling demand around the globe. The firm also said that it will aim to bolster innovation in the athletic shoe industry.
- Bob Evans Farms Inc. (Nasdaq: BOBE) shares fell more than 4% after the food-processing company fell short of Wall Street sales expectations. The firm topped earnings per share (EPS) expectations by reporting $0.61. However, its $313.4 million in quarterly revenue was below consensus estimates.
- In other earnings news, shares of Kroger Co. (NYSE: KR) plunged 18.89% after the grocery giant issued a dismal forward guidance outlook. Kroger also blamed competitive pressures from Wal-Mart Stores Inc. (NYSE: WMT). Investors were already concerned about the firm’s future after it warned shareholders in March annual sales could decline by at least 1% due to rising competition in its industry. It appears that its sales decline could be much larger than previously estimated.
The 5 Jobs That Robots Will Take First
- Despite the downturn in Amazon.com Inc. (Nasdaq: AMZN) stock this afternoon, the e-commerce giant may be on the verge of a huge score in the software industry. According to Bloomberg, Amazon is exploring a deal to purchase Slack Technologies in a takeover that may be worth up to $9 billion. A deal would allow Amazon to make a competitive leap against Salesforce.com Inc. (NYSE: CRM) and Microsoft Corp. (Nasdaq: MSFT).
- Look for an additional earnings report from Finisar Corp. (Nasdaq: FNSR) after the bell.
Friday’s U.S. Economic Calendar (all times EDT)
- Housing Starts at 8:30 a.m.
- Atlanta Fed Business Inflation Expectations at 10 a.m.
- Consumer Sentiment at 10 a.m.
- Dallas Federal Reserve Bank President Robert Kaplan speaks at 12:45 p.m.
- Baker Hughes Rig Count at 1 p.m.
About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.
Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.
Wall Street Examiner Disclaimer:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I am also a contractor for Money Map Press, publisher of Money Morning, Sure Money, and other information products. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. In some cases promotional consideration is paid on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.