Thursday’s light trading was due to investors assessing further earnings and recent economic data from the United States, as the market attempted to rebound from a challenging session.
Even though the Dow Jones Industrial Average fell 8 points, the S&P 500 and Nasdaq Composite continued to rise above the flatline. Following the company’s far lower-than-expected second-quarter earnings, Ford Motor shares fell 13%.
Despite exceeding profits and revenue projections and witnessing increased foot traffic at its restaurants, Chipotle’s stock fell 3%. Following a 4% decline in guidance, American Airlines’ stock fell.
Investors also evaluated the 2.8% GDP growth rate for the second quarter, which was significantly higher than anticipated. A 2.1% growth was predicted by economists surveyed by Dow Jones.
Source (CNBC)
