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Stocks mixed as Facebook gets slammed



Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 15, 2018.  REUTERS/Lucas Jackson/File Photo
work on the floor of the New York Stock Exchange shortly after
the opening bell in New York


Stocks were mixed Thursday after Facebook took a historic tumble
post-earnings and as markets digested the possibility of cooling
trade tensions between the US and the European Union. The dollar
and Treasury yields jumped ahead of US GDP data out Friday.

Here’s the scoreboard:

Dow Jones industrial

 25,528.79 +114.69


 2,836.86 −9.21 (-0.32%)

  1. President Donald Trump and European Commission
    President Jean-Claude Juncker agreed to work toward
    resolving a multi-billion dollar trade dispute

    But analysts remain
  2. The European Central Bank
    held its benchmark rate unchanged
    at a policy
    The ECB’s decision to maintain a rate of
    -0.4% comes in contrast to a Federal Reserve that looks poised
    to hike two more times this year, driving a larger wedge
    between the monetary policies of the two largest central banks
    in the world.
  3. The US goods
    trade deficit jumped
    5.5% in June to $68.3
    It had narrowed in April and May as
    foreign markets stocked up on American goods that were about to
    be hit by tariffs. Separate data out Thursday showed
    new orders for durable goods
    increased by a
    less-than-expected 1% last month.
  4. Facebook posts
    the largest
    drop in stock-market history
    The social
    media giant shed $120 billion in market cap after it
    reported slowing growth Wednesday.

And a look at the upcoming economic calendar: 

  • Amazon
    reports earnings after the bell; Twitter
    is out at the end of the week.
  • US GDP numbers are out.

See also:

Goldman Sachs breaks down the
damage a trade war could cause in the stock market and 2 ways
investors can protect themselves

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