Shit gonna get crazy!!!
The United States has concluded the Malaysian airline was shot down, a senior U.S. official told CNN's Barbara Starr. One radar system saw a surface-to-air missile system turn on and track an aircraft right before the plane went down Thursday, according to the official. A second system saw a heat signature at the time the airliner was hit, the official said. The United States is analyzing the trajectory of the missile to try to learn where the attack came from.
The United States has concluded the Malaysian airline was shot down, a senior U.S. official told CNN's Barbara Starr. One radar system saw a surface-to-air missile system turn on and track an aircraft right before the plane went down Thursday, according to the official. A second system saw a heat signature at the time the airliner was hit, the official said. The United States is analyzing the trajectory of the missile to try to learn where the attack came from.
The Dow fell 161 points (almost 1%), the S&P 500 was off about 1.2%, and the Nasdaq finished down 1.4%. It was the biggest drop for the Dow in two months, and the S&P's fall is the biggest for the index in three months.
So far, the world knows that a Malaysian Airlines plan carrying 295 passengers went down in Ukraine near the Russian border. European markets heard the news just before their closing bells, and many ended the day down 1%.
Just as American investors were digesting that news, word came that Israel has opened a new ground assault in Gaza.
As if anyone needed more proof of the market jitters, gold prices are 1.5% higher, silver is up 2%, and the VIX index, a measure of market volatility that's sometimes called the "Fear Gauge" The VIX "Fear Gauge" spiked nearly 36%.
Here are some other highlights from today's trading:
1) Tech Movers: Microsoft announced a staggering 18,000 job cuts to come this morning. The move signals that new CEO Satya Nadella means business about turning around the computing giant. Most of the cuts are coming from the Nokia brand, but some of the bleeding will come from Microsoft proper. The stock was up 1%.
In other tech news, flash drive maker Sandisk is getting hammered to the tune of a 13.5% drop heading into the afternoon. The company beat on earnings and revenue this quarter, but that wasn't enough to satisfy Wall Street. It said in an earnings release that it brought in a record $1.6 billion in revenue for the quarter, but its margins are shrinking.
2) Playtime less fun at Mattel: Barbies and Hot Wheels aren't entertaining kids like they used to. Mattel saw tepid growth that was far less than Wall Street was expecting. The stock fell 6.6% Thursday,
One bright spot for the company is American Girl doll sales, though it's a small part of the overall business.
3) No Hangover for Time Warner: After rejecting an $80 billion bid from Rupert Murdoch's Twenty-First Century Fox, Time Warner saw its 17% jump in yesterday's trading. Investors don't think that will be the end of things. The stock rose another 3.6% today. Fox shares were flat.
4) Health care hullabaloo: Insurer UnitedHealth Group put out good results for the quarter, with earnings and revenue that beat expectations in all categories based on growth from all its business units and higher enrollments. The stock is up 1.6%.
A host of other insurance stocks are also up today. Humana is up 3%, Aetna is up 2% and WellPoint shares are trading 1.1% higher.
5) Things looking good for banks: Morgan Stanley, the last big American bank to report earnings this quarter, did better than Wall Street was expecting. It beat estimates for both earnings and revenue on the back of a strong performance from its units in stock trading and investment banking. The stock ended down slightly.
Rebounding bank performance is a good sign for the economy. Solid economic data also keeps rolling in for the U.S. On Thursday, initial jobless claims were once again lower than expected, coming in at 302,000.
6) Overseas markets: Russian sanctions and worries about the crash are fueling a sell-off in European stocks. The FTSE 100 closed about 0.7% lower, and the German Dax was off more than 1%. The Russian RTS index finished just under 4% lower.
Asian stocks ended the day mixed, though Taiwanese stocks fell more than 0.8%.
By Melvin Backman, July 17, 2014: 04:22 PM ET
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Stocks plunge as Israel invades Gaza after the airliner got shot down........
So far, the world knows that a Malaysian Airlines plan carrying 295 passengers went down in Ukraine near the Russian border. European markets heard the news just before their closing bells, and many ended the day down 1%.
Just as American investors were digesting that news, word came that Israel has opened a new ground assault in Gaza.
As if anyone needed more proof of the market jitters, gold prices are 1.5% higher, silver is up 2%, and the VIX index, a measure of market volatility that's sometimes called the "Fear Gauge" The VIX "Fear Gauge" spiked nearly 36%.
Here are some other highlights from today's trading:
1) Tech Movers: Microsoft announced a staggering 18,000 job cuts to come this morning. The move signals that new CEO Satya Nadella means business about turning around the computing giant. Most of the cuts are coming from the Nokia brand, but some of the bleeding will come from Microsoft proper. The stock was up 1%.
In other tech news, flash drive maker Sandisk is getting hammered to the tune of a 13.5% drop heading into the afternoon. The company beat on earnings and revenue this quarter, but that wasn't enough to satisfy Wall Street. It said in an earnings release that it brought in a record $1.6 billion in revenue for the quarter, but its margins are shrinking.
2) Playtime less fun at Mattel: Barbies and Hot Wheels aren't entertaining kids like they used to. Mattel saw tepid growth that was far less than Wall Street was expecting. The stock fell 6.6% Thursday,
One bright spot for the company is American Girl doll sales, though it's a small part of the overall business.
3) No Hangover for Time Warner: After rejecting an $80 billion bid from Rupert Murdoch's Twenty-First Century Fox, Time Warner saw its 17% jump in yesterday's trading. Investors don't think that will be the end of things. The stock rose another 3.6% today. Fox shares were flat.
4) Health care hullabaloo: Insurer UnitedHealth Group put out good results for the quarter, with earnings and revenue that beat expectations in all categories based on growth from all its business units and higher enrollments. The stock is up 1.6%.
A host of other insurance stocks are also up today. Humana is up 3%, Aetna is up 2% and WellPoint shares are trading 1.1% higher.
5) Things looking good for banks: Morgan Stanley, the last big American bank to report earnings this quarter, did better than Wall Street was expecting. It beat estimates for both earnings and revenue on the back of a strong performance from its units in stock trading and investment banking. The stock ended down slightly.
Rebounding bank performance is a good sign for the economy. Solid economic data also keeps rolling in for the U.S. On Thursday, initial jobless claims were once again lower than expected, coming in at 302,000.
6) Overseas markets: Russian sanctions and worries about the crash are fueling a sell-off in European stocks. The FTSE 100 closed about 0.7% lower, and the German Dax was off more than 1%. The Russian RTS index finished just under 4% lower.
Asian stocks ended the day mixed, though Taiwanese stocks fell more than 0.8%.
By Melvin Backman, July 17, 2014: 04:22 PM ET
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Stocks plunge as Israel invades Gaza after the airliner got shot down........
^^^^^
Tried to copy & paste just the 1st paragraph but got the whole article, thanks to copying & pasting from my cell phone, lol.......
Tried to copy & paste just the 1st paragraph but got the whole article, thanks to copying & pasting from my cell phone, lol.......
Some people just shouldn't be allowed on air. Here's two of them:
http://www.youtube.com/watch?v=JEDH2Z2_6Zw
http://www.youtube.com/watch?v=JEDH2Z2_6Zw
