Broader US indices closed lower for the first time after three days higher

Read full post at forexlive.com

The major US stock indices closed lower across the board today. The day got off to a negative start after Meta Platforms reported higher expenses and slightly lower revenues going forward after the close yesterday.

Declines were accelerated after stronger-than-expected inflation in the US GDP report. Although prices closed lower, the major indices did pare their losses into the close. Nevertheless the three-day win streak in the broader indices was snapped today:

A snapshot of the closing levels shows:

• Dow industrial average fell -375.14 points or -0.98% at 38085.79
• S&P index fell -23.21 points or -0.46% at 5048.41
• NASDAQ index fell -100.99 points or -0.64% at 15611.76

The small-cap Russell 2000 fell -14.30 points or 0.72% at 1981.11

Shares of Meta Platforms still lost -$52.12 or -10.56% to $441.38. Caterpillar was also a big decline or with a fall of $-25.52 or -7.02% after their disappointing earnings yesterday.

Southwest Airlines reported disappointing earnings this morning and-6.96% as did Bristol-Myers Squibb whose price fell -8.51%.

Some winners today included:

• Chipotle, +6.47%. Their earnings expectations.
• Tesla, +4.97%
• Super MIcro Computers rebounded with a gain of 4.33%
• Delta Airlines, +4.09%
• Nvidia, +3.71%
• Broadcom, was 2.99%
• Merck, +2.92%

In after-hours trading, large-cap tech are getting a boost from Alphabet up 12.44%, Microsoft up 4.88% after each announced better-than-expected earnings. Nvidia and Super Micro Computers are also trading higher with Nvidia shares up 2.13% and SMCI trading up 2.24%. Amazon whose shares lost -1.65% in trading today has risen 3.49% in after-hours trading.