28 Jan 2015
US stocks closed sharply low as the Fed spoiled the party
The US stocks market closed down after a choppy day that started with gains amid better than expected corporate earnings such as Apple $AAPL, Yahoo $YHOO, Boeing $BA; however the FOMC statement reaffirmed its intention to remain "patient" on hiking rates but it's "likely to occur sooner than currently anticipated".
Thus, Wall Street lost all its gains and closed at daily lows. All sectors finished Wednesday down for the day. Energy shares collapsed 3.69% on the day, followed by Financials (-1.86%) and Materials (-1.51%).
The Dow Jones fell 1.13% to 17,191.37; the S&P 500 lost 1.35% to 2,002.16; while the Nasdaq Composite finished 0.93% down on the day to 4,637.99. Small caps in the figure of Russell 2000 declined 1.64% to 1,175.12.
Big gainers in the day were Electronic Arts $EA (+12.81%), Boeing $BA (+5.40%), and Apple $AAPL (+5.65%). Losers were Alibaba $BABA (-4.36%), Chevron $CVX (-4.20%), and Microsoft $MSFT (-3.45%).
After hours, Facebook $FB reported a Q4 EPS of $0.54, above $0.48 expected. Revenues rose 49.20% YoY to $3.85B, $80M higher than expected. Qualcomm $QCOM reported FQ1 EPS of $1.34 and revenues of $7.1B, both above market expectations.
Thus, Wall Street lost all its gains and closed at daily lows. All sectors finished Wednesday down for the day. Energy shares collapsed 3.69% on the day, followed by Financials (-1.86%) and Materials (-1.51%).
The Dow Jones fell 1.13% to 17,191.37; the S&P 500 lost 1.35% to 2,002.16; while the Nasdaq Composite finished 0.93% down on the day to 4,637.99. Small caps in the figure of Russell 2000 declined 1.64% to 1,175.12.
Big gainers in the day were Electronic Arts $EA (+12.81%), Boeing $BA (+5.40%), and Apple $AAPL (+5.65%). Losers were Alibaba $BABA (-4.36%), Chevron $CVX (-4.20%), and Microsoft $MSFT (-3.45%).
After hours, Facebook $FB reported a Q4 EPS of $0.54, above $0.48 expected. Revenues rose 49.20% YoY to $3.85B, $80M higher than expected. Qualcomm $QCOM reported FQ1 EPS of $1.34 and revenues of $7.1B, both above market expectations.