The markets finished the month slightly lower on lighter than average volume. Investors were disappointed by weaker than expected economic numbers that showed overall growth in the economy was not up to par. Earnings were also a big factor today as some big names reported after the close last night. In other news, congress voted on an extension for government funding that would last until next week though everyone was expecting this so it produced little in the way of market activity.
The Dow 30 was lower by 42, the S&P 500 sold off 4 and the Nasdaq 100 ended the day lower by 1. The Nasdaq 100 fared slightly better thanks to a stellar earnings report from Amazon (NASDAQ: AMZN). Next week will be a big one for earnings announcements as Apple (NASDAQ: AAPL) is due to report on Tuesday.
As for economic news traders can expect some movement on Monday as Treasury Secretary Mnuchin is due to speak and we will get manufacturing numbers later in the morning. Following that the Fed will take over the headlines on Wednesday as they make their rate announcement. Finally to wrap up the week we will get a look at the current unemployment rate which is foretasted to tick up 0.1%.
Amazon was higher today following an excellent earnings report. Shares moved higher by 0.80% but were well off their highs of the session. Microsoft (NASDAQ: MSFT) announced an earnings report that initially sparked a round of selling but by the end of the session the computing giant was able to show a gain of 0.28%. Starbucks (NASDAQ: SBUX) disappointed the street with their earnings and investors took the opportunity to take some risk off the table. Shares were lower by 2.01% despite efforts by the company to ease investors concerns.