January 24, 2013 at 18:00 PM EST
Daily ETF Roundup: Wall Street Takes A Hit From Apple Upset
Today’s Apple (AAPL) upset weighed heavily on the markets, as investors digested the rather anemic earnings report from the tech giant. The company reported revenues that fell short of expectations and iPhone sales that missed quarterly projections; Apple shares plunged 12.35% to close at $450.50. In other corporate news, blue-chip conglomerate 3M (MMM) reported earnings that were in line with expectations, while revenues came in slightly higher. Markets, however, were bolstered by better-than-expected labor data; Americans filing new applications for jobless benefits fell to 330,000, the lowest level in five years [see also Seven Simple & Cheap ETF Model Portfolios]. Global Market Overview: Wall Street Takes A Hit From Apple Upset After earnings euphoria somewhat faded today, only two major U.S. equity indexes managed to close in positive territory. The tech-heavy Nasdaq ETF slumped 1.38%, dragged down by Apple. The Dow Jones Industrial Average ETF inched 0.41% higher, while the S&P 500 ETF eked [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Pop On Earnings Euphoria Daily ETF Roundup: Dow Hits Multi-year High Daily ETF Roundup: Stocks Rally On Positive Economic Data Daily ETF Roundup: Stocks Slide Sideways Daily ETF Roundup: Jobs Report Boosts Markets
Today’s Apple (AAPL) upset weighed heavily on the markets, as investors digested the rather anemic earnings report from the tech giant. The company reported revenues that fell short of expectations and iPhone sales that missed quarterly projections; Apple shares plunged 12.35% to close at $450.50. In other corporate news, blue-chip conglomerate 3M (MMM) reported earnings that were in line with expectations, while revenues came in slightly higher. Markets, however, were bolstered by better-than-expected labor data; Americans filing new applications for jobless benefits fell to 330,000, the lowest level in five years [see also Seven Simple & Cheap ETF Model Portfolios]. Global Market Overview: Wall Street Takes A Hit From Apple Upset After earnings euphoria somewhat faded today, only two major U.S. equity indexes managed to close in positive territory. The tech-heavy Nasdaq ETF slumped 1.38%, dragged down by Apple. The Dow Jones Industrial Average ETF inched 0.41% higher, while the S&P 500 ETF eked [...]

Click here to read the original article on ETFdb.com.

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