Traders-Blog.com

It was not a good day for the U.S stock market today. The Dow fell 61.38 points, to close at 10,627.77. Also, the Nasdaq fell 9.97 points, to close at 2,178.60. The S&P closed at 1,227.04, after decreasing 8.16 points.

Today, Google reported that that its second-quarter profit increased more than fourfold. Its earnings rose to $343 million, or $1.19 per share, from $79 million, or 30 cents last year. However, shares of Google fell $30.98, to $282.96 in after-hours. Net revenue of Google did not meet analysts’ expectations, and shares also lowered in price after company executives announced that there will be a slowdown in the third quarter.

Besides, Microsoft Corp. announced that its fiscal fourth-quarter profit climbed to $3.7 billion, or 34 cents per share, from $2.69 billion, or 25 cents per share last year. Besides, revenue for the three-month period ended June 30 increased to 9.4 percent to $10.6 billion from $9.29 million last year. However, as in the case of Google, results fell short from analysts’ expectations. Although Microsoft finished the session up 1 percent, to close at $26.44, during after-hours trading, the stock fell 1.9 percent to $25.94.

Today, there were also new explosions in London that impacted investors’ faith about the outlook of the economy. London police reported that there were four explosions in total on three sub-way stations and one bus. After these events, the dollar dropped 2.5 percent to 110.34 yen. Besides, news impacted the euro against the yen, pushing it down 1.2 percent, to 135.30 yen. Finally, September crude futures closed down $1.27 at $56.75 due to a decline in oil inventories.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter