US EQUITY WRAP

US EQUITY WRAP

US equity markets were dominated by the unscheduled, during market, release of Google earnings which significantly missed expectations and sent the stock plummeting 10%. This has a ripple effect across the technology sector as Yahoo moved to session lows in sympathy. At the close Google shares finished down 8% having been halted for approximately 2 hours as the early release was investigated. Elsewhere, before the Google event markets had shaken off higher than expected initial jobless claims and a weaker than previous employment constituent from the Philadelphia Fed report as the headline Philly number was the strongest since April. After-market, Microsoft also continued the weak performance of the large technology names as EPS and revenues both missed expectations. Finally, the DJIA finished down 0.06% at 13548.94, the S&P 500 finished down 0.24% at 1457.34 and the Nasdaq 100 finished down 1.13% at 2744.17.

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US Equities

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