From NASDAQ.: 2024-08-02 09:32:00

Thursday’s market saw a sell-off due to recession fears, with the Dow down -494 points, the Nasdaq -405 points, and the S&P 500 and Russell 2000 also in the red. The Fed’s decision not to cut rates adds to uncertainty. ADP reported higher jobless claims, suggesting a weakening labor market. Apple beat earnings expectations for Q3, with $85.78 billion in revenues. Amazon exceeded bottom-line estimates in Q2, but missed on revenue guidance and saw shares fall -5%. Intel recorded a revenue miss in Q2 and reduced its Q3 guidance, leading to a -17% drop in its stock price. DoorDash reported record highs in Q2 revenue, despite a modest earnings miss.



Read more at NASDAQ.: The Zacks Analyst Blog Highlights ADP, Apple, Amazon, Intel and DoorDash