Midway through trading Friday, the Dow traded down 0.01
percent to 14,699.43 while the NASDAQ dropped 0.66 percent to
3,268.18. The S&P also fell, declining 0.42 percent to
Index Technicals: The S&P 500 stalls at the 1,590/1,595
resistance area, with 1,580 support below and 1,600 acting as
Next up, the Dow is stalling at the 14,800 resistance level,
with 14,650 as support and 14,850 as resistance above.
The Russell looks to be stalling at its 945 resistance, with
950 acting as resistance above and 930 as support.
Finally, the NASDAQ hit its 3,300 resistance, with 3,275
support below and 3,250 support below that.
Top Headline Chevron (NYSE:
) reported better-than-expected first-quarter profit.
Chevron's quarterly profit declined to $6.18 billion, or $3.18
per share, from $6.47 billion, or $3.27 per share, in the
year-ago period. Its total revenue dropped to $56.8 billion from
$60.7 billion. However, analysts were projecting earnings of
$3.09 per share on sales of $56.46 billion.
Chevron's worldwide net oil-equivalent production rose to 2.65
million barrels per day in the quarter, versus 2.63 million
barrels per day.
Equities Trading UP Qlik Technologies (NASDAQ:
) shot up 13.88 percent to $27.16 on Q1 results.
Shares of Synaptics (NASDAQ:
) got a boost, shooting up 10.25 percent to $42.49 after the
company reported strong Q3 results.
) was also up, gaining 23.12 percent to $21.99 on upbeat Q1
Equities Trading DOWN Key Energy Services (NYSE:
) was down, falling 14.25 percent to $6.08 after the company
reported downbeat Q1 results.
Shares of Cirrus Logic (NASDAQ:
) were down 8.77 percent to $17.90 on Q4 results.
) shares tumbled 9.84 percent to $58.58 after the company
reported a Q1 loss.
Commodities In commodity news, oil traded down 1.22 percent to
$92.50, while gold traded down 0.46 percent to $1,455.30.
Silver traded down 1.81 percent Friday to $23.75, while copper
fell 1.87 percent to $3.18.
Eurozone European shares were lower today. The Spanish Ibex
Index fell 0.81 percent while the Italian FTSE MIB Index dropped
0.51 percent. Meanwhile, the German DAX fell 0.23 percent and the
French CAC dropped 0.79 percent and U.K. shares declined 0.25
Economics The US economy grew at an annual rate of 2.5% in the
first quarter, versus 0.4% in the fourth quarter. However,
economists were expecting a growth rate of 3.2%.
The University of Michigan-Thomson Reuters consumer-sentiment
index declined to 76.4 in April, versus a final reading of 78.6
in March. However, economists were expecting a reading of 74 in
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advice. All rights reserved.
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