Stock Market Roundup Jan. 23: Stocks Down on Trump Uncertainty
U.S. stocks are down on Monday, as investors are looking for more details on President Donald Trump’s policies. Sector-wise, energy was down, at one point, 1.17%, industrials down 0.87%, and financials down 0.52%. Real estate was one of the few bright spots, up 0.71%.
Earnings season is in full swing, with McDonald’s MCD and oilfield services major Haliburton HAL reporting today before the bell. This week is a big week for tech earnings, with almost all of the largest tech corporations reporting in the next few days. Check out the latest episode of the Zacks Friday Finish Line podcast for an in-depth Tech Earnings Preview.
Zacks Rank #1 (Strong Buy) Biggest Movers
Value: Angang Steel ANGGY
Growth: Spartan Motors SPAR
Momentum: Teck Resources TECK
VGM: MiX Telematics MIXT
Income: MIXT
Major Indexes
DOW: 19,801.70 / -25.55 / -0.13%
S&P 500: 2,265.34 / -5.99 / -0.26%
NASDAQ: 5,552.94 / -2.39 / -0.04
Top Headlines
Here’s Why Qualcomm (QCOM) is Tumbling Today
Monday saw shares of chipmaker Qualcomm QCOM tumble 14% in morning trading after it was hit by multiple downgrades. The company is still reeling from last week’s $1 billion lawsuit filed against it by Apple AAPL, just days after the U.S. government accused Qualcomm of utilizing anticompetitive tactics to monopolize semiconductors in the mobile phone industry.
Sprint to Purchase 33% Stake in Jay Z’s Tidal
Wireless carrier Sprint S announced it will be purchasing a 33% stake in the streaming service Tidal, owned by hip-hop mogul Jay Z. While Sprint did not say when the acquisition would be finalized, the new deal is part of a partnership between both companies where Sprint companies will receive exclusive Tidal content. Sprint has about 45 million retail customers.
McDonald’s CEO Bullish Despite All-Day Breakfast Slump
Fast food chain McDonald’s released its fourth quarter fiscal 2016 financial results on Monday before the bell, beating expectations on both the top and bottom lines. However, same-store sales declined considerably in comparison to the year-ago period, suggesting the popularity of its All-Day breakfast menu may be waning.
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QUALCOMM Incorporated (QCOM): Free Stock Analysis Report
Sprint Corporation (S): Free Stock Analysis Report
Spartan Motors, Inc. (SPAR): Free Stock Analysis Report
Apple Inc. (AAPL): Free Stock Analysis Report
Halliburton Company (HAL): Free Stock Analysis Report
McDonald's Corporation (MCD): Free Stock Analysis Report
Angang Steel Co. (ANGGY): Free Stock Analysis Report
MiX Telematics Limited (MIXT): Free Stock Analysis Report
Teck Resources Ltd (TECK): Free Stock Analysis Report
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