Bethea's Byte
Announcements
Welcome guests and members to Bethea's Byte. To all guests of this site, please feel free to look things over, but you are encouraged to register and take part in discussing all news reports posted here. You are also encouraged, as a member to post your own news stories. You are also encouraged to debate these stories as well, especially in the political areas. All I ask is that no matter what side you're on, keep the debates civil. If you are joining us from another forum, affiliate with us. We are more than happy to check you out, join your site and participate with you as well. The Arcade is not set to keep score, but it is set for fun. So play the games and test your skills and your luck. Again, you are welcome here at Bethea's Byte. BYTE THIS!
Log in

I forgot my password

Who is online?
In total there is 1 user online :: 0 Registered, 0 Hidden and 1 Guest

None

[ View the whole list ]


Most users ever online was 16 on Tue Jan 29, 2019 7:55 pm
Statistics
We have 23 registered users
The newest registered user is Ami Saltzman

Our users have posted a total of 1567 messages in 603 subjects
March 2019
SunMonTueWedThuFriSat
     12
3456789
10111213141516
17181920212223
24252627282930

Calendar Calendar

Latest topics
» Lindsey Graham says John McCain's Legacy Won't Be 'Diminished' After Trump Attacks The Late Senator (FULL ARTICLE)
Yesterday at 7:24 pm by The Last Outlaw

» What are your plans for the day.
Yesterday at 12:03 pm by Naiwen

» Trump Demands FOX News 'Bring Back' Jeanine Pirro, 'Keep Fighting' For Tucker Carlson
Sun Mar 17, 2019 9:42 pm by The Last Outlaw

» Trump Threatens SNL With Federal Investigation For Mocking Him
Sun Mar 17, 2019 8:39 pm by The Last Outlaw

» 'Not A White Supremacist,' Aide Says Of Trump
Sun Mar 17, 2019 6:32 pm by The Last Outlaw

» Trump Administration Struggles For Path Forward On Nuclear Talks As Tensions Mount With North Korea
Sun Mar 17, 2019 5:58 pm by Kyng

» Fox News "Strongly" Condemns Host Jeanine Pirro's Comments About Muslim Congresswoman (FULL ARTICLE)
Sat Mar 16, 2019 8:09 pm by The Last Outlaw

» ‘An Easy Target’: Pence Takes Barbs From Both Sides As He Promotes Trump
Sat Mar 16, 2019 8:07 pm by The Last Outlaw

» Senate Votes To Reject Trump’s Emergency Declaration, Setting Up President’s First Veto
Fri Mar 15, 2019 10:05 am by The Last Outlaw

» New Zealand Mosque Shootings Leave 49 Dead
Fri Mar 15, 2019 5:23 am by The Last Outlaw

» Israel Says It Hit Sites In Gaza After Two Rockets Were Fired At Tel Aviv
Thu Mar 14, 2019 9:29 pm by The Last Outlaw

» Bucking NDA, Ex-Fox News Reporter Plans To Tell Congress About Outlet's Role In Trump Hush Money Story
Thu Mar 14, 2019 8:42 pm by The Last Outlaw

» New Zealand Police Hunt "Active Shooter" After Gunman Opens Fire At Mosque
Thu Mar 14, 2019 8:15 pm by The Last Outlaw

» Rockets Fired At Tel Aviv, Triggering Air Raid Sirens
Thu Mar 14, 2019 1:27 pm by The Last Outlaw

» Trump Warns Senators: Bad to Vote Against Border Security
Thu Mar 14, 2019 10:49 am by Spice

» K-Pop Stars Named in Growing South Korea Sex Scandal
Thu Mar 14, 2019 6:41 am by The Last Outlaw

» School shooting in Brazil
Wed Mar 13, 2019 3:17 pm by The Last Outlaw

» Ticking Clock May Save Trump From Impeachment In Congress
Wed Mar 13, 2019 2:50 pm by The Last Outlaw

» U.S. Grounds 737 MAX Jets, Boeing Shares Fall Again
Wed Mar 13, 2019 12:35 pm by The Last Outlaw

» Jessica Canseco Disputes Jose’s Claim of Cheating with Alex Rodriguez
Wed Mar 13, 2019 11:02 am by The Last Outlaw

Top posting users this week
Top posting users this month
Affiliate With Bethea’s Byte


Bethea's Byte

Anti-Spam Bots!

Submit Your Site To The Web's Top 50 Search Engines for Free!






The Coffee House


Planet Nexus


mindsConnected


IconSkouliki


Atrium


Atrium

Dow Closes 660 Points Lower On Fears Of Economic Slowdown

View previous topic View next topic Go down

The Last Outlaw
The Last Outlaw
Head Administrator
Head Administrator
Male Posts : 777
Age : 43
Join date : 2018-05-25
Location : Salem, Oregon, USA
Status :

View user profile http://betheasbyte.forumotion.com/forum

PostThe Last Outlaw on Thu Jan 03, 2019 1:25 pm


From CNBC

Fred Imbert, John Melloy and Eustance Huang of CNBC wrote:Stocks fell sharply Thursday after a dire quarterly warning from Apple and the release of weaker-than-expected manufacturing data. The iPhone maker cited a slowing Chinese economy for the shortfall, intensifying fears that the global economy may be slowing down.

The Dow dropped 660 points, or 2.8 percent, as Apple shares led the decline. The 30-stock index tumbled to its low of the day right before the close, trading down as much as 707 points.

The S&P 500 pulled back 2.5 percent as the tech sector fell 5 percent. The Nasdaq sank 3 percent, snapping a five-day winning streak, as Apple's stock dropped 10 percent. Thursday marked Apple's worst session since 2013.

Apple said it sees first-quarter revenue of $84 billion vs. a previous guidance of a range of $89 billion and $93 billion. Analysts expected revenue of $91.3 billion for the period, according to the consensus estimate from FactSet. Apple blamed most of the revenue shortfall for struggling business in China.

"This piles on to existing anxiety of a slowdown in global growth," said Jeff Kilburg, CEO of KKM Financial. "Apple can be used as a proxy to China's growth."

Chip stocks Advanced Micro Devices, Nvidia, Skyworks and Qorvo all dropped on the Apple warning. Skyworks lost more than 10 percent. Semiconductors fell broadly with the VanEck Vectors Semiconductor ETF (SMH) dropping 6 percent.

"While it's likely a combination of both macro and micro, the contribution of the former means that maneuvering through the upcoming earnings season will be like swimming in shark infested waters," said Peter Boockvar, chief investment officer at Bleakley Advisory Group, about what prompted Apple's guidance cut. "That said, I'd argue it's more of the latter."

Apple's warning also dragged down other companies that do big business in China. Caterpillar shares were down 3.9 percent. Boeing shares dropped 4 percent.

"While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China," Apple CEO Tim Cook wrote in a letter to investors on the warning. "We believe the economic environment in China has been further impacted by rising trade tensions with the United States. As the climate of mounting uncertainty weighed on financial markets, the effects appeared to reach consumers as well, with traffic to our retail stores and our channel partners in China declining as the quarter progressed."

China and the U.S. are currently trying to strike a deal on trade after slapping tariffs on billions of dollars worth of each other's goods. President Donald Trump said on Wednesday that last month's losses — which market the worst December decline since 1931 — were a "glitch," adding equities will rebound once trade matters are squared up.

Thursday's decline in equities was accelerated by a weaker-than-expected reading on the U.S. manufacturing sector. ISM's manufacturing index fell to 54.1 in December, economists polled by Refinitiv expected 57.9.

"We turned the calendar but we didn't turn the trend in the markets," said Eric Wiegand, senior portfolio manager at U.S. Bank Private Wealth Management. "We have continued to witness a deceleration in global growth. As we started this year, the purchasing manufacturers' index data from around the world indicated perhaps a pace of softening that caught investors by surprise. That's reinforced by today's release of the ISM manufacturing numbers."

Shares of Delta Air Lines fell nearly 9 percent after the company issued slightly lower revenue guidance for the fourth quarter. Delta's downturn dragged American Airlines and United Continental, as they pulled back 7.5 percent and 5 percent, respectively.

And the trend continues.  Mr. Trump, are we winning yet?

Just saying.

_________________

View previous topic View next topic Back to top

Create an account or log in to leave a reply

You need to be a member in order to leave a reply.

Create an account

Join our community by creating a new account. It's easy!


Create a new account

Log in

Already have an account? No problem, log in here.


Log in

 
Permissions in this forum:
You cannot reply to topics in this forum