About 12:30 p.m. ET, the market plummeted and no one had any news, any explanation. Everything came back (the Dow 30 closed at a new record high) except tech. Tech plunged and the Nasdaq closed about 3% down on a day it was expected to set a new record.
Immediately after the close, Amazon reported an incredibly bad miss and fell 3% in after hours.
Amazon missing by such a wide mark would explain why the Nasdaq fell.
Only one problem: the Nasdaq fell four hours before Amazon reported and never came back. The Dow 30 came back immediately.
Call me a conspiracy theorist but it's pretty obvious. I'm sure President Trump can figure this out; I wonder if we see a tweet? LOL.
[Note: after hours, CNBC says a well-respected analyst released a bearish note during the day. Okay, no conspiracy. The Nasdaq had a flash crash for a reason. LOL.]
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Other Reports
Starbucks misses earnings. Starbucks will close all 379 Teavana retail stores -- wow! Starbucks bought Teavana in 2012 for $620 million. The brand, apparently, is not going away -- just the retail stores. If so, another Amazoncoup.
Expedia misses earnings.
Mattel misses revenues and has a bigger loss than forecast. Girls not buying Barbie or American Doll -- they're buying iPhones. Mattel even "slashed" the dividend to save cash -- CNBC.
First Solar: huge, huge beat: 64 cents vs 4-cent estimate; also huge revenues beat, $623 vs $556 million. Trading stopped for 30 minutes. First Solar closed down a bit during the day; it will be interesting to see what the shares when trading begins again. After hours, FSLR up 13%!
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Long Legs
The one on the right is a world-class soccer player (at least in my eyes). The one on the left is a budding competitive swimmer: she can swim 12 feet in 12 seconds: her goal: 10 seconds.
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