General Motors world headquarters (C) is seen along the Detroit river in downtown Detroit, Michigan.
Markets made extremely modest moves to end the week.
First, the scoreboard:
- Dow: 15,535.6, -12.0, -0.0%
- S&P 500: 1,691.3, +1.8, +0.1%
- NASDAQ: 3,585.2, -26.1, -0.7%
And now, the top stories:
- There were no major economic data or earnings announcement scheduled for today. But earnings announcements after yesterday’s close caused some volatility.
- The big loser today was Microsoft, which fell a whopping 12% today. The software giant reported Q2 earnings of $0.59 per share, which missed expectations for $0.75. Among other things, the company took a massive $900 million writedown on its Surface RT tablets.
- Search giant Google also reported disappointing earnings, however the margin of disappointment wasn’t quite as wide as the Microsoft’s miss. The stock shed a little over 1% for the day.
- Chipotle Mexican Grill reported better-than-expected Q2 financial results. The burrito chain saw same-store sales jump 5.5% during the quarter. The stock jumped over 8% for the day.
- Everyone’s still digesting news that Detroit will file for Chapter 9 bankruptcy.
- Don’t Miss: 25 Reasons Why Detroit Is On The Verge Of An Epic Comeback »
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