• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / U.S. Equity

Closing Bell: LIVE MARKETS BLOG

The major indices closed Friday's session in the red across the board.
By TONY OWUSU
Jul 27, 2018 Updated Jul 27, 2018 | 04:02 PM EDT
Stocks quotes in this article: TWTR, QCOM, NXPI, FB, WMT, COF, SYF

Closing Bell

All three major indices closed Friday trading on a sour note, falling across the board during the final session of the week. 

The Dow Jones Industrial Average fell 0.29%, or 75 points to 25,453, while the S&P 500 declined 0.65%, or 19 points to 2,819, and the Nasdaq brought up the rear, falling 1.46%, or 115 points to 7,737. 


Walmart Switches Store Cards to Capital One From Synchrony

Walmart (WMT) announced that it is ending its 20-year relationship with Synchrony Financial (SYF) , instead choosing to issue its store credit cards through Capital One (COF) . 

The announcement sent Synchrony shares falling 1.7% Friday, though Capital One shares were also declining, 1.34% Friday. 

Synchrony's partnership with Walmart is set to expire on July 31, 2019. 

Separately, Synchrony reported its quarterly results Friday, earnings 92 cents per share in the period, results that are a dime better than analysts were expecting from the company.


Facebook Recovery Stalls, Stock Trades Lower

Shares of Facebook (FB) looked like they were ready to bounce back Friday morning after a 19 point route in Thursday's session, but the stock was back in the red, falling 0.37% on the day. 

Facebook shares dropped 19% Thursday, wiping out $120 billion in market value in the process, the worst single-day drop in value in U.S. stock market history. 

Facebook reported a second-quarter revenue miss, shrinking margins and tepid guidance earlier this week, resulting in Thursday's drop. 


China Says It's Not Responsible for Nixed Qualcomm-NXP Deal

Qualcomm (QCOM) shares are down 1% Friday morning after Chinese antitrust regulators said that the company's failed bid to acquire Dutch chipmaker NXP Semiconductors (NXPI) was not the fault of the People's Republic. 

"Qualcomm and NXP decided to abandon the deal as the deadline the two parties agreed on expired. [We] regret this," China's State Administration for Market Regulation said in a statement. 

Qualcomm dropped its $44 billion bid for the company Wednesday and cited trouble with Chinese regulatory approval as a reason for the deal failing. 

Qualcomm will have to pay a $2 billion termination fee to NXP for backing out of the deal. 


Fake Account Purge Has Twitter Plunging Friday

Twitter (TWTR) shares are down 18.5% Friday after the social media network released its quarterly report. 

The company is int he midst of purging its network of fake accounts which, along with tougher data privacy laws in the EU, caused the number of monthly active users worldwide to fall by a million quarter to quarter to 335 million. 

Adding to Twitter's woes is the historic selloff of Facebook. Following weak results from the world's leading social media platform, the stock fell by 19% and wiped out $120 billion in value from the company's market cap. 


U.S. GDP Grew by 4.1% in the Second Quarter

The U.S. Commerce Department expects the second-quarter U.S. gross domestic product to increase by 4.1% when all is said and done, just shy of the 4.2% economists were expecting for the period, but still a big jump from quarter to quarter.

Additionally, the first quarter GDP growth estimate was revised to 2.2% from 2%. Economic growth in the second quarter was the most robust the U.S. has experienced in nearly four years.

Several indicators prior to Friday's release suggested soft second-quarter GDP expectations, including a Commerce Department report Thursday that new orders for durable goods increased at a seasonally adjusted rate of 1% in June, short of the 3% gain economists were expecting.

The Commerce Department also reported that the U.S. trade deficit in goods expanded 5.5% in June as imports rose and exports fell during the quarter.


Premarket

U.S. futures are rising across the board Friday, as were the majority of major world markets, as trade tensions ease and earnings season continues through the thick of second-quarter releases. 

Dow futures are up 0.11%, or 27 points indicating an open at 25,552, while S&P futures were up 0.04%, indicating an open 1 point higher to 2,844, and Nasdaq futures were up 0.17%, indicating an open 13 points higher. 

Markets in Asia were mixed with the Shanghai Composite declining 0.3%, while the Hang Seng and Nikkei gained 0.08% and 0.56% respectively. 

In Europe, the CAC 40 gained 0.34%, the DAX rose 0.5% and the FTSE 100 rose 0.43%. 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
TAGS: Investing | U.S. Equity

More from U.S. Equity

Indexes Break Resistance as Market Prospects Improve

Guy Ortmann
Jun 27, 2022 10:42 AM EDT

Friday's robust gains on heavy volume were helpful from a technical view.

The Fed Blinked and So Did We

Peter Tchir
Jun 27, 2022 9:30 AM EDT

Here's what we need to get a bigger rally.

The 10 Personality Traits of Successful Traders and Investors

James "Rev Shark" DePorre
Jun 25, 2022 10:00 AM EDT

Superior market players share these characteristics in their emotional makeup.

The Best House in This Neighborhood Is on Sale

Brad Ginesin
Jun 24, 2022 12:15 PM EDT

The buying opportunity here below book value is compelling.

Here's What We Need to See to Be Convinced the Market Has Turned

Guy Ortmann
Jun 24, 2022 10:28 AM EDT

The 'crowd' remains at historically levels of fear.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 12:04 AM EDT PAUL PRICE

    Two Good Signs -- Especially for Small-Cap Investors

  • 12:10 AM EDT PAUL PRICE

    More Insider Buying in American Woodmark (AMWD)

    American Woodmark , which I've discussed here fr...
  • 08:55 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The 10 personality traits of successful traders an...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login