On Thursday all three indexes made new intraday highs but only the Dow managed to close just below its high. The S&P closed down slightly and the NASDAQ fell apart, dropping 40 points as Amazon pulled back prior to earnings and Alphabet continued its decline. At one point GOOGL stock was down at $937.06 although it managed to recover into the close to 952.51.
Amazon which shocked investors after hours with lower earnings and revenue numbers than estimated as well as lower than the same quarter last year, closed at $1046.00 on the day. Twitter collapsed 14.13%.
Disappointing earnings from UPS help sink the Transports which included a pullback in FedEx Stock. All in all sellers took charge over the lunch hour and sold off stocks into the close.
Here is the outlook for the S&P and NASDAQ indexes for Friday Jul 28 2017 as viewed by the advance decline numbers from the close of trading on Thu Jul 27 2017.
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Advance Decline Numbers Outlook For July 28 2017
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