Market Indexes:
The market was cruising along for the week, but then reversed on Friday, due to poor earnings reports, and threats of a renewed tariff war coming out of DC. 3 out of 4 indexes were down for the week, with only the Russell small caps in the black.
“U.S. stocks fell on Friday as investors reeled from earnings reports by Apple (NASDAQ:) and Amazon (NASDAQ:) that showed the depth of the coronavirus impact on big business. Amazon stock fell about 5 percent after the company reported on Thursday that despite surging sales in the first quarter, costs to deliver products amid the pandemic had taken a big bite out of profits. Jeff Bezos, the company’s founder, said the expense of protecting workers, including protective equipment and Covid-19 tests, could swing it into a loss of as much as $1.5 billion in the current quarter.
Apple stock also fell, after the company refused on Thursday to give any estimates for the current quarter. But the tech giant signaled…
