The markets suffered another loss today as the Fed continued its stance on the possibility of more rate hikes. The Fed wasn't all to blame though as an earnings report from Apple caused the Nasdaq to lose 99 (-2.18%) which was the worst market performer today. The S&P 500 also shed 20 points today, down 1.09%. In the Dow it was shares of Boeing, as well as Apple that helped erase 225 points (-1.39%) on the day. Apple (AAPL ) dominates the headlines early today after a miss on their earnings release. The popular tech giant toppled 6.55% today as earnings reveals a revenue miss. The company also announced guidance below analyst expectations for the second quarter. Technical traders will note that despite the weakness today price held just above the January 20th support line.
Popular travel site Trip Advisor (TRIP ) also took a hit today, losing 3.09% after a Goldman Sachs downgrade. The large analyst also lowered their price target by $9 to $59 which is currently 14% below today's closing price. With increased competition from disrupter tech companies like AirBnB, Trip Advisor has lost almost 20% this year alone.
Lastly, shares of Boeing (BA ) fell to a new 52 week low closing down 8.93% after outlook for 2016 concerned investors. Boeing announced that it expects to deliver fewer commercial planes this year and possibly next year. This news overshadowed their positive earnings announcement beating all of the street's expectations.
From here traders will look to financial numbers for more guidance this week. Numbers such as the pending unemployment claims as well as consumer sentiment due out on Friday, may help jolt the markets out of this weeks wild range.