Market Watch: Corp. Earnings End Wall Street’s Win Streak

Wall Street’s three day winning streak came to an abrupt end today as corporate earnings helped drag down the major averages. Wal-Mart and Goldman Sachs were among the heaviest drags on the Dow. At one point during today’s session Wal-Mart stock was down over 5%.  The retail giant reported that for the fiscal year ending in January, annual revenues totaled just over $482 billion dollars, down 0.7% from the year prior. Wal-Mart has had positive growth every year since the company was founded by Sam Walton in 1962.

See why the latest news from Wal-Mart is having a negative effect on the markets below.

Oil also did little to help out the markets today as the price of a barrel of crude remained stagnant closing up slightly at $30.77/barrel.

To understand the importance of oil costs and why we should keep watch of when oil prices rise and fall, watch the video below.

Here are the final numbers from Thursday, 2/18/16 on Wall Street

Dow Jones Industrial Average: 16,413.43 (-40.40 / -0.25 %)

NASDAQ: 4,487.54  (-46.53 / -1.03 %)

S&P 500: 1,917.83  (-8.99 / -0.47 %)

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
- 3 days ago
Phil Cannella
Phil Cannella
Phil Cannella

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