January Closes As the Worst Month For Stocks in Nearly Two Years

Michael Teague |

The continuing emerging markets sell-off, along with a slew of disappointing corporate earnings statements sent stocks lower by Friday’s closing bell, making January the worst month for Wall Street in almost two years.

 

The Numbers:

  • Standard & Poor’s 500: -0.65 percent to 1,782.59

  • Dow Jones Industrial Average: -0.94 percent to 15,698.85

  • Nasdaq: -0.47 percent to 4,103.88

 

Our Top Stories:

 

On the Dow:

Earnings season took its toll on the Dow, with oil giant Chevron (CVX) dropping over 4 percent by the close after revealing a 32 percent drop in profits during the recently-ended period. ExxonMobil (XOM) was off about 2 percent, as its own earnings statement released earlier in the week reflected a very similar scenario to that of its colleague.

 

On the S&P 500:

Toy giant Mattel (MAT) and online bookseller-cum-tech deity Amazon.com (AMZN) led the S&P down in spectacular fashiong on losses of 12 and 11 percent respectively. Meanwhile, Yahoo! (YHOO) rebounded slightly from a string of down days, closing on a 2 percent gain. Facebok (FB) added nearly 2.5 percent, as did Microsoft (MSFT) as the company indicated earlier in the day that the search for a new CEO would soon be over.

 

On the Nasdaq:

Zynga (ZNGA) was an unexpected surprise on the day, as the stock jumped over 23 percent by the bell after announcing the purchase of mobile gaming company NaturalMotion. Hardware makers JDS Uniphase ($JDS) and Broadcom Corp. (BRCM) were up significantly, while major chemical manufacturer Cereplast (CERP) was off nearly 13 percent.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
CVX Chevron Corporation 113.18 -0.11 -0.10 3,033,598
AMZN Amazon.com Inc. 739.25 -4.40 -0.59 2,425,685
MAT Mattel Inc. 30.20 -0.20 -0.64 1,145,520
XOM Exxon Mobil Corporation 87.25 0.01 0.01 4,347,339
ZNGA Zynga Inc. 2.88 0.01 0.35 2,785,130
YHOO Yahoo! Inc. 40.02 0.39 0.98 3,792,273
DMRC Digimarc Corporation 29.44 -0.01 -0.04 19,442
BRCM Broadcom Corp. n/a n/a n/a 0
MSFT Microsoft Corporation 59.15 -0.05 -0.08 13,770,133
PTPF All Marketing Solutions Inc 0.00 0.00 0.00 0

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