Trade tensions were labeled as the reason for the markets decline today as the Dow 30 fell 102, the S&P 500 closed down 5, but the Nasdaq 100 closed flat on the day. Much of this was confirmed by the Russell 2000's move to new highs as investors flocked towards a domestic trade. The Russell 2000 continues to be the best performing index by far.
Despite the trade concerns Intel (NASDAQ: INTC) was actually the biggest loser in the Dow 30 today, falling 3.5%. The stock was downgraded by Northland Capital which sent the stock towards the lower end of it's trend. Procter Gamble (NYSE: PG) was the other big loser in the Dow, falling 2%.
Advanced Micro Devices (NASDAQ: AMD) enjoyed a 4% gain on the day as analysts focus on the threat AMD is on Intel. The "comeback" of AMD has caused a huge shift in capital from Intel to AMD. The shift can clearly be seen in recent days by comparing charts.
Shares of Disney (NYSE: DIS) were lower by 1.5% today as the stock was downgraded. The analyst that downgraded the stock had harsh words about the companies battle for Fox's (NASDAQ: FOXA) assets with Comcast (NASDAQ: CMCSA) saying that Disney has now found itself in an "unwinnable situation."
In other news General Electric (NYSE: GE) shares were lower again as the French Government said the company should be fined if they do not create the 1000 jobs they promised when they took over Alstom (NASDAQ: ALSO). GE has only created 323 as of the end of April.