“I don’t think so”, Mr Charlop said.
Facebook dropped 2.9%, and earlier more than 5%, after second-quarter spending jumped 82%.
The Nasdaq Composite closed a third of a percent higher, with the S&P 500 ending flat. The eurozone’s STOXX 600 slipped 0.23 percent, the Spanish Ibex Index fell 0.75 percent, while Italy’s FTSE MIB Index climbed 0.41 percent.
Colgate-Palmolive Co. ( CL ) posted second quarter earnings per share of 70 cents that missed the Zacks Consensus Estimate by a penny. Traders still considered the day a plus since it started lower and ended with a gain for the S&P 500 and Nasdaq.
Companies scheduled to report during the day include Expedia, LinkedIn and Western Union after the close. The index had fallen 2.9 per cent over a five-session stretch amid concerns about growth in China and some corporate earnings disappointments.
Goldman Sachs chief Lloyd Blankfein told Bloomberg that he is optimistic about US markets. That compares with 50% in the first quarter.
“This means there are no negative quarters, and that’s good”, he said. Does it mean I’m going to sell all my equities? “My own reading of the data is there’s still room to grow”, she said.
“The thing with GDP is that it’s old news”.
“We are in a slow-growth environment and anything that knocks that down further is not a plus for the market”. No specific timeline of when the federal funds rate would be raised was provided at the meeting. The decision on the rates was unanimous. The Fed’s optimistic sentiment was taken by market participants as a hint to a more certain September hike, thus investors bought into the greenback before the rise in borrowing costs.
Whole Foods Market sank 11.6 percent as it forecast earnings for the current quarter of 34-35 cents per share, three cents below analyst expectations.
Not all analysts were convinced the economic data supports a rate hike in September. “How can the Fed justify their word if economic growth is coming in lower than expected, with rates at zero?”
At Thursday’s close, the Dow Jones Industrial Average fell 5 points to 17,746, the S&P 500 rose less than a point to 2,109, the Nasdaq was up 17 points at 5,129, and the Russell 2000 gained 2 points at 1,232.
Futures bets on the Dow slid 0.1% as well.
European stocks were little changed amid earnings reports, completing their biggest monthly rally since February. Refinery stocks were the loan bright spot in the sector, as falling oil prices benefit their operations.
The U.S. dollar traded about half a percent higher against major world currencies, with the euro at $1.09.
Intel rose 2.2 per cent and Micron Technology surged 9.0 per cent after the two chipmakers unveiled what they touted as a “breakthrough” memory chip that permits users to store and process huge amounts of data more quickly.
Treasury Department auctioned $29 billion of 7-year notes at a high yield of 2.021 percent.
In commodities trading, crude oil futures are sliding $0.55 to $47.97 a barrel after sliding $0.27 to $48.52 a barrel on Thursday.
