Here's what happened to the stock market on Thursday - CNBC

unitedstatepolitics.blogspot.com

People walk by the New York Stock Exchange (NYSE) on May 18, 2020 in New York City.

Spencer Platt | Getty Images

Dow Jones Industrial Average falls 350 points

Big Tech takes a hit

Microsoft shares dropped 4.4% despite reporting better-than-expected earnings. Apple slid 4.6% and Amazon dropped 3.7%. Facebook ended the day lower by 3% along with Google-parent Alphabet. One trader pointed out the group "came into the CQ2 reporting season with impossibly high expectations."

Jobless claims disappoint

The latest unemployment figures also dented market sentiment. U.S. weekly jobless claims came in at 1.416 million for last week, marking the 18th straight week in which initial claims totaled more than 1 million. Economists expected another 1.3 million workers to have filed initial claims for state unemployment benefits, according to Dow Jones.

What happens next?

Verizon is set to report earnings on Friday. New home sales are also on deck.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Let's block ads! (Why?)

"Market" - Google News
July 24, 2020 at 03:14AM
https://ift.tt/3fQwI2y

Here's what happened to the stock market on Thursday - CNBC
"Market" - Google News
https://ift.tt/2Yge9gs
https://ift.tt/2Wls1p6