Market Watch: Earnings Reports & Apple Depress Wall Street

Wall Street today gave back much of what it made over the first three days of the week thanks to disappointing earnings reports and poor performances from transportation & energy stocks. The Dow dropped below the 18,000 mark while oil settled $1 lower, or down 2.3% at $43.18 a barrel.

There was also a great deal of concern over slumping iPhone sales figures. Apple stock is dropping so badly right now that its entering bear market territory. A bear market is considered to be a decline of 20% from recent highs. Apple shares are currently down 21% below the 52-week high of $134.54 from April 28, 2015 and the tech giant announced yesterday that it would delay its next earnings announcement until April 26th- a day later than expected. There is greater worry that Apple is reaching the saturation point for sales of its popular iPhone. Read more here.

Here are the final numbers from Thursday, 4/21/16 on Wall Street:

Dow Jones Industrial Average: 17,982.52  (-113.75 / -0.63 %)

NASDAQ: 4,945.89  (-2.24 / -0.05 %)

S&P 500: 2,091.48 (-10.92 / -0.52%)

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella
- 22 hours ago
Phil Cannella
Phil Cannella

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