The markets continue to digest the current prices as many feel that this is the new range. The Dow 30 was lower by 167, the S&P 500 lost 14, and the Nasdaq 100 sold off 16. The Federal Reserve released their minutes from their previous meeting which investors seemed to shake off. Going forward the focus will be on how the new Chairman will handle the economy and markets volatility.
Existing home sales came out today which showed that Americans have to pay up if they want to get into a new home. Sales of homes under $100,000 fell 13% due to home prices moving higher. First time home buyers only accounted for 29% of the buyer pool. The biggest gains came in sales of homes from $500,000 to $750,000 which grew by 12% from last year.
Walmart (NYSE: WMT) shares continued lower today following their disappointing online sales numbers released yesterday. This sparked a rumor that the head of their ecommerce division would be leaving the company. Though this rumor was quickly dispelled it left many investors wondering if maybe Walmart should make a change.
Amazon (NASDAQ: AMZN) was one of the big financial headlines today as the company announced they're own brand of over the counter health products. The company's new line is called Basic Care and is produced by Perrigo (NASDAQ: PRGO). The product line includes around 60 offerings ranging from ibuprofen to men's hair regrowth treatment.
In other news La-Z Boy (NYSE: LZB) shares popped over 8% thanks to stronger than expected revenue and earnings. Same store sales came in strong as well, up 2.6%.
Lending Club (NYSE: LC) shares were lower on the day by 6% as the company came up short on profit, revenue, and guidance. Shares have been hovering near lows now since December.