The weak earnings performance by Wal-Mart in the past months and the quick selloff of quotes has resulted in tremendous losses for Wall Street. In fact, Wall Street has marked a second da loss on Thursday. The earnings announced by the retail giant Wal-Mart came much weaker than expected and this has negatively affected the US financial markets.
The shares of the retail company fell up to $77.12 which is a 2 percent down, in comparison to the previous performance results. The retailer has also indicated a significant fall in growth, in view of its sales and growth performance in the past five years.
Wall Street is experiencing a major decline in momentum stocks. The Nasdaq Biotechnology Index (.NBI) has fallen down almost 1.8 percent, while the Global X Social Media Index (SOCL.O) is off to 1.2 percent.
As far as individual stocks in the financial markets go, Facebook fell to $58.17, with a 1.9 off, while Netflix was down 2.7 percent to $342.27.
"We seem to be stuck in this trend among momentum stocks that is moving the entire market," said Rick Meckler, according to president of hedge fund LibertyView Capital Management, located in Jersey City, New Jersey.
"It's a tug of war between those who think they have fallen far enough and are interested in picking up and those who still think the trend is to go lower. It's the latter today."
The macroeconomic analysis indicates that the US unemployment benefits has shown a stable decrease in the past year, while consumer purchasing levels go up, and this means that the US economy is slowly returning to stability.
Analysts and investors are welcoming the results for the next quarters to make relevant decisions regarding their stock purchases.
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