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US stocks fell sharply to start the new month, as disappointing earnings reports and a set of economic figures sharpened investor sentiment.
• Dow Jones Industrial Average
DJIA
it sank 622 points, or 2.6%, to close at 23,723.69. The index is now down 19.7% from its closing high on February 12, but has risen 27.6% since its 2020 closing low of March 23 (all figures in this article exclude dividends) .
• The S&P 500 Index
SPX
It was down 2.8% and ended 16.4% below its record closing level set on February 19, and was 26.5% above its 2020 low closing level set on March 23.
• The Nasdaq Composite Index
COMP,
It was the worst of the three Fridays with a 3.2% drop, ending 12.3% below its record high closing on February 19, but 25.4% above its 2020 closing low of March 23.
The Institute for Supply Management said its manufacturing index fell during April to 41.5% from 49.1% in March. The April level was the lowest since April 2009. Any reading below 50% indicates a contraction in the manufacturing sector.
Amazon.com
AMZN
had been the market leader during the closing of COVID-19, but its shares fell 8% after CEO Jeff Bezos told shareholders on Thursday that after the market closed “they may want to take a seat” due to plans to spend your entire second quarter operating for profit.
Investors were also disappointed with Apple’s
AAPL
earnings report released Thursday after the market closed due to a company decision not to provide forecasts. The iPhone maker increased its share buyback program by $ 50 billion.
Tesla shares fell 10% on Friday after CEO Elon Musk said during market hours on Friday that the electric car maker’s share price was too high.
Boeing
LICENSED IN LETTERS,
Shares fell 5% on Friday after the company announced $ 25 billion in new debt offerings.
Dow
All but one of the components of the Dow Jones Industrial Average fell on Friday:
| Company | Heart | Price change – May 1 | Price change – 2020 | Price change – 2019 |
| Dow Inc. |
Dow |
-7.5% | -38.0% | N / A |
| Exxon Mobil Corp. |
XOM |
-7.2% | -38.2% | 2.3% |
| United Technologies Corp. |
UTX |
-5.7% | -30.8% | 40.6% |
| Boeing Co. |
LICENSED IN LETTERS, |
-5.4% | -59.1% | 1.0% |
| Travelers Companies Inc. |
TRV |
-5.1% | -29.9% | 14.4% |
| Caterpillar Inc. |
CAT, |
-4.7% | -24.9% | 16.2% |
| Intel Corp. |
INTC |
-4.2% | -4.0% | 27.5% |
| Walgreens Boots Alliance Inc. |
WBA |
-3.8% | -29.3% | -13.7% |
| Goldman Sachs Group Inc. |
GS, |
-3.4% | -23.0% | 37.6% |
| Cisco Systems Inc. |
CSCO, |
-3.4% | -14.7% | 10.7% |
| American Express Co. |
AXP |
-3.2% | -29.1% | 30.6% |
| International Business Machines Corp. |
IBM |
-2.9% | -9.1% | 17.9% |
| Chevron Corp. |
CVX, |
-2.8% | -25.8% | 10.8% |
| UnitedHealth Group Inc. |
UNH |
-2.7% | -3.2% | 18.0% |
| J.P. Morgan Chase & Co. |
JPM, |
-2.6% | -33.1% | 42.8% |
| McDonald’s Corp. |
DCM |
-2.6% | -7.6% | 11.3% |
| Microsoft Corp. |
MSFT |
-2.6% | 10.7% | 55.3% |
| Walt Disney Co. |
DIS |
-2.5% | -27.1% | 31.9% |
| 3M Co. |
MMM |
-2.2% | -15.8% | -7.4% |
| Merck & Co. Inc. |
MRK |
-2.1% | -14.6% | 19.0% |
| Nike Inc.Class B |
NKE |
-1.9% | -15.6% | 36.6% |
| Pfizer Inc. |
PFE |
-1.9% | -3.9% | -10.2% |
| Visa Inc.Class A |
V, |
-1.8% | -6.6% | 42.4% |
| Apple Inc. |
AAPL |
-1.6% | -1.6% | 86.2% |
| Johnson and Johnson |
JNJ |
-1.2% | 1.7% | 13.0% |
| Verizon Communications Inc. |
VZ |
-1.1% | -7.4% | 9.2% |
| Procter & Gamble Co. |
PG, |
-0.9% | -6.5% | 35.9% |
| Coca-Cola Co. |
KO |
-0.6% | -17.6% | 16.9% |
| Home Depot Inc. |
HD |
-0.6% | 0.1% | 27.1% |
| Walmart Inc. |
WMT |
1.1% | 3.4% | 27.6% |
| Source: FactSet | ||||
Click on the tickers to learn more about each company. Scroll through the table to see all the data.
Dow Inc.
Dow
It had the worst performance in the Dow, even though the company met analysts’ expectations for first-quarter net income and exceeded sales estimates.
S&P 500
Among the S&P 500, 471 shares fell on Friday. Here are the 10 worst results of the day:
| Company | Heart | Price change – May 1 | Price change – 2020 | Price change – 2019 |
| Weyerhaeuser Co. |
WY |
-17.8% | -40.5% | 38.2% |
| Norwegian Cruise Line Holdings Ltd. |
NCLH |
-15.6% | -76.3% | 37.8% |
| Helmerich and Payne Inc. |
HP, |
-15.0% | -63.0% | -5.2% |
| Apache Corp. |
APA |
-13.8% | -55.9% | -2.5% |
| Royal Caribbean Cruises Ltd. |
RCL |
-12.8% | -69.5% | 36.5% |
| Carnival Corp. |
CCL |
-12.4% | -72.6% | 3.1% |
| Western Digital Corp. |
WDC, |
-12.2% | -36.2% | 71.7% |
| Newell Brands Inc |
NWL |
-11.5% | -36.1% | 3.4% |
| American Airlines Group Inc. |
AAL |
-11.4% | -62.9% | -10.7% |
| MGM Resorts International |
MGM |
-10.8% | -54.9% | 37.1% |
| Source: FactSet | ||||
Nasdaq-100
Here are the worst 10 artists on Friday among the components of the Nasdaq-100 index.
NDX
:
| Company | Heart | Price change – May 1 | Price change – 2020 | Price change – 2019 |
| Western Digital Corp. |
WDC, |
-12.2% | -36.2% | 71.7% |
| Tesla Inc. |
TSLA, |
-10.3% | 67.6% | 25.7% |
| United Airlines Holdings Inc. |
UAL |
-10.0% | -69.8% | 5.2% |
| KLA Corp. |
KLAC |
-8.4% | -15.7% | 99.1% |
| Lam Research Corp. |
LRCX |
-7.9% | -19.6% | 114.7% |
| Amazon.com Inc. |
AMZN |
-7.6% | 23.7% | 23.0% |
| Microchip Technology Inc. |
MCHP |
-7.1% | -22.2% | 45.6% |
| Marriott International Inc. Class A |
SEA, |
-6.8% | -44.0% | 39.5% |
| Autodesk Inc. |
ADSK |
-6.5% | -4.7% | 42.6% |
| Cadence Design Systems Inc. |
CDNS |
-6.5% | 9.3% | 59.5% |
| Source: FactSet | ||||
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