Stock market today July 24, 2020
July 24, 2020
Stock market today
A lower close for the US stock market today. The main factors were rising tensions between the US and China and disappointing earnings reports from Intel and American Express. Small-cap stocks underperformed today.
Stock market today at the close
S&P 500: 3,215.63,-20.03(-0.62%)
Dow 30: 26,469.89,-182.44(-0.68%)
Russell 2000: 1,469.36,-20.85(-1.40%)
Stock market data: Yahoo Finance
Stock market news today
“Stocks fell Friday as relations between the US and China were tested further, and after a handful of companies reported quarterly results that disappointed Wall Street. Each of the three major indices logged weekly losses by the end of the session.
China on Friday ordered that the US close its consulate in the populous city of Chengdu, in response to the Trump administration’s directive to force Beijing to shut down its consulate in Houston earlier this week.
Meanwhile, declines in the 30-stock Dow came as shares of Intel and American Express dropped Friday morning, after the companies reported disappointing developments in the second-quarter results. Intel (INTC) warned in earnings results Thursday evening that it faced another production delay for its advanced chips, with its new 7-nanometer chips now expected for delivery in late 2022 or early 2023, or about a year behind schedule. The chip-maker’s stock sank as much as 18% during intraday trading Friday, for its worst day since March 16 this year.
American Express reported a 29% drop in revenue, with a drought of customer spending on credit cards during the pandemic contributing to a top-line miss.
Friday’s session came following a tech-led selloff on Wall Street during the regular session. The three major indices ended the day lower, with the S&P 500 and Nasdaq both posting their largest declines in four weeks.”
At 4:13 PM, ET time today both the oil price and gold price were higher.
Crude Oil: 41.20,+0.13(+0.32%)
At 4:16 PM, ET time today the 10-yr bond yield was higher at 0.5890,+0.0070(+1.20%).
Stock movers today:
American Express Company (AXP): 95.33-1.34 (-1.39%)
Advanced Micro Devices, Inc. (AMD):69.40+9.83 (+16.50%)
Intel Corporation (INTC): 50.59-9.81 (-16.24%)