The markets were wild today as new claims of an FBI probe into Presidential candidate, Hillary Clinton's emails sent the markets lower. Don't worry readers, this will all be over in just a few weeks. The Dow 30 lost 7, the S&P 500 closed down 6, and the Nasdaq 100 lost 25 today. Next week traders will look to more earnings along with the rate announcement from the Federal Reserve Bank.
Amazon (NASDAQ: AMZN) suffered a decline of 5.19% today on well above average volume. The e-commerce giant posted third-quarter earnings that missed analysts' expectations by a mile. The one bright spot was revenue, which was as expected. Amazon blamed the loss on big investments in warehouses and video. Amazon built 18 fulfillment centers during the quarter and plans to build more. Investors were mostly disappointed with Amazon's guidance going forward into the holiday season. The company said that operating income in the fourth quarter would likely be lower than the streets expectations. Wall Street was expecting over $1.5 billion.
ExxonMobil (NYSE: XOM) also suffered an earnings loss today, down 2.46%. The largest publicly traded oil company, reported earnings that topped analysts' views, but revenue fell short of estimates. The company announced that profit dropped 38% from a year ago. Exxon blamed "declining oil prices as refining margins continued to contract."
Alphabet (NASDAQ: GOOGL), Googles parent company announced a beat on both its top and bottom lines for the third quarter. It was reported that revenue jumped 20% from a year ago thanks to "strong advertising on mobile devices and on its video site YouTube." Meanwhile, revenue from Alphabet's so-called "Other Bets," which includes industries like autos and health care, rose about 4% to $197 million. Shares traded in a range today but were able to close with a small 0.27% gain on the day.
Baker Hughes (NYSE: BHI) blasted off 8.38% today as the Wall Street Journal reported late Thursday that General Electric (NYSE: GE) was in talks to buy the oilfield services provider. GE later came out to calm the markets saying that the takeover speculation was "in discussion with Baker Hughes on potential partnerships, but none of these options include an outright purchase." The confirmation caused a rally that sent shares to new highs on the year.