DOW STOCKS DROP: What You Need To Know About The US Market Overnight

Today was one of those days where the Dow Jones Industrial Average did something very different from the rest of the market.

First, the scoreboard:

  • Dow: 16,412.7 (-45.5, -0.2%)
  • S&P 500: 1,842.8 (+4.1, +0.2%)
  • Nasdaq: 4,223.6 (+26.0, +0.6%)

And now the top stories:

  • There were no economic data reports released today. Today’s action was all about earnings. And three big Dow stocks dropped after reporting earnings.
  • Insurance giant Travelers Companies fell 1.7% after reporting Q4 earnings that were actually stronger than expected. Earnings surged to $2.68 per share beating expectations for $2.16. Insurance companies across the board benefited from weather that was much calmer than a year ago.
  • Verizon posted $0.66 EPS, beating the Wall Street consensus by a penny. Johnson & Johnson beat earnings expectations by $0.04, but guided 2014 estimates toward the lower end of market expectations.
  • Both companies are in the Dow, and both fell by around 20%.

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