Dow closes lower for the 3rd straight day
The major indices are closing mixed with the Dow taking the brunt of the selling. The Nasdaq index closed higher ahead of Microsoft’s earnings.
Highlights:
- Dow and S&P closed near session lows
- Dow post 3 day losing streak
- NASDAQ close higher for the 3rd time in 4 days
- Dow close that the lowest level since September 29 and 7% off all time highs
- S&P and NASDAQ close 5% off the all-time highs
The final numbers are showing:
- S&P index fell -10.28 points or -0.30% at 3390.69
- NASDAQ index rose 72.415 points or 0.64% at 11431.35
- Dow fell -222.19 points or -0.8% at 27463.19
Microsoft earnings are out and they beat on the top and bottom lines;
- Earnings-per-share came in at $1.82 vs. $1.54 estimate
- revenues came in at $37.15 billion vs. an estimate $35.75 billion
- intelligent cloud came in at $12.99 billion vs. 12.72 billion estimate
- productivity and business processes came in at $12.32 billion vs. expected $11.79 billion
- more personal computing came in at $11.85 billion vs. expected $11.17 billion
