Worst Day in Five Weeks

Today was the worst day for the U.S. stock market since August 5th. The arresting part of that statement isn’t today’s loss but how subdued the market has been for the last five weeks. The S&P 500 lost a mere 0.65% today which brought the S&P 500 back down to 1,988.44. That really ain’t much.

Our Buy List didn’t fall as much as the overall market, but it was not an easy day. Only four Buy List stocks closed higher for the day. McDonald’s was especially weak as the fast food giant reported terrible sales for August. It was their worst sales slump in more than ten years. MCD also said that problems with their supplier in China will take off 15 to 20 cents per share in Q3 earnings. The yield on MCD is now yielding 3.56%.

Shares of eBay also took a hit but that wasn’t because of anything they did. Instead, Apple announced its new Apple Pay which would be a direct competitor of PayPal. That could be more reason for eBay to consider selling off PayPal.

Posted by on September 9th, 2014 at 4:07 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.