The Dow spent much of Thursday in negative territory and traded to a low of 11,744 before rebounding late in the afternoon to recoup most of its losses. The index finished with a loss of 3 points and closed at 11,822 after trading up to 11,845.
The S&P 500 slipped 2 points and settled at 1,280 after trading down to 1,271. Like the Dow, the index made it into positive territory late in the day and traded up to 1,296.
Meanwhile, the Nasdaq was never close to sniffing green as the index stayed in the red all day long. Tech hit a low of 2,686 before closing down 21 points at 2,704. The index is right at its 20-day moving average so watch the 2,700 level today.
Futures are pointing toward a higher open this morning thanks in part to Google (GOOG, $626.77, down $4.98) which reported a blowout quarter. The company announced profits of $2.5 billion, or $7.81 a share, versus $2 billion, or $6.13 a share, in the year earlier quarter.
Excluding stock-compensation charges, Google numbers really came in at $8.75 (a share) which was ahead of analyst’s estimates for $8.06. Revenue surged over 25% to $8.44 billion, up from $6.67 billion, and ahead of expectations.
In a surprising move, the company also switched up its top brass as co-founder, Larry Page, will be the new CEO and takes over for Eric Schmidt who will become Executive Chairman.
As we head to press, here is a look at the futures: Dow (+42); S&P 500 (+7), Nasdaq 100 (+15). We will probably release a trade shortly after the open so stay close to you email inbox.]]>