It was another wild day for the markets but today they all closed lower. Early morning selling pressure was able to hold the markets in the red for the day causing the Dow 30 to lose 60, the S&P 500 to close lower by 4, and the Nasdaq 100 to lose 16. Tomorrow investors will close out the week with a handful of economic numbers to look forward to. Retail sales and consumer sentiment are potentially market moving numbers due out early.
KB Home (KBH ) announced their earnings today and showed that it slightly beat the street on both its top and bottom lines for the fourth quarter. The company attributed this to a "big jump" in sales. Revenue rose 21% from a year ago to $1.19 billion. Overall profit was light though which sent shares sharply lower at the open. Investors were excited by this and used the dip as an opportunity to buy, pushing shares back to positive on the day by 0.24%.
Delta Air Lines (DAL ) also had a wild day of trade as the company announced mixed results for its fourth quarter. Earnings were on par with estimates but profit fell from a year ago due to rising labor costs. The company did say that passenger unit revenue, a closely watched metric, will turn positive in the current quarter. All this mixed news sent shares lower on the open but closed well off the lows of the day, down 1.03%.
Amazon (AMZN ) announced plans to create more than 100,000 full-time jobs in the US in the next 18 months. The company said in a statement that "the positions are for workers across the country and across all skill and experience levels, from engineers and software developers to entry-level positions and those seeking on-the-job training." Shares continued their march higher today, adding 1.83%.