Market Recap – August 30th
On Wednesday’s trading day, markets stayed in the green for the fourth straight day as earnings season and labor market data kept investors hopeful of a pause in interest rates at the next Federal Reserve meeting. The gains from the previous days helped attempt to close out August without moderate losses, as the majority of August’s losses have been recovered. For the broad indices, the S&P 500 rose 0.38%, the NASDAQ Composite went up 0.54%, and the Dow Jones grew 0.11%. Two stocks that suffered considerable losses on Wednesday’s trading day were Tech companies HP and Box. PC maker HP fell 6.63% after a hard-hitting revenue miss, but earnings per share did meet analyst’s expectations. Shares of the cloud storage company Box plummeted 12.31% after both a weaker-than-expected bottom line and unfavorable guidance.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.