US close: Nasdaq down sharply as Amazon.com plummets

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LONDON (ShareCast) - - US stocks finish lower on tensions with Russia
- Mixed economic data
- Amazon.com (NasdaqGS: AMZN - news) , Visa (NYSE: V - news) , Ford drop

Dow Jones: -0.85%
Nasdaq: -1.75%
S&P 500: -0.81%

US stocks finished the Friday session noticeably lower as traders reacted to the negative news-flow out on Russia and took some money off the table ahead of the release of the latest monthly non-farm payrolls report and US Federal Reserve Policy meeting this week.

President Obama was expected to consult with key European leaders on 'deepening' sanction against Russia. Ratings agency Standard & Poor's also cut its foreign and local currency rating for Russia's long-term debt on the back of recent capital outflows and warned that additional sanctions could result in a further downgrade. Earlier in the day the Russian central bank surprised analysts by hiking its main policy rate in a bid to staunch those flows.

Amazon.com pumelled

Online retail merchant Amazon.com was a standout faller, with its stock dropping 9.88%, as traders continued to question its valuation. Earnings were in line with expectations but the company warned that spending on investments will probably result in a second-quarter operating loss.

Credit card group Visa also moved lower after missing analysts' estimates for second-quarter revenues and profits. As well, Putin warned that it and Mastercard will lose market share in his country as a result of the current situation.

Visa stated that a strong US dollar and tough comparatives from last year due to non-recurring items weighed on growth.

Shares of Ford also declined, following the carmaker's latest set of quarterly results. The manufacturer reported a drop in profits worse than expected, as it blamed safety recalls and weather-related costs.

Gold miners, insurance brokers and multiutilities outperformed as traders headed for the relative safety of these sectors.

Consumer sentiment rises, PMIs fall

The Thomson Reuters/University of Michigan's consumer confidence index jumped to 84.1 in April, revised higher from the preliminary reading of 82.6 and March's final figure of 80. Analysts had expected a smaller rise to 83.

However, Markit's US services purchasing managers' index (PMI) declined from 55.3 to 54.2 in April, surprising analysts who had expected a small rise to 55.5.

This pushed the composite PMI, which measures both the services and manufacturing sectors, down to 54.9 from 55.7 the month before.

Oil slips lower

West Texas Intermediate futures were down $1.33 at $100.60 a barrel on the NYMEX.

The yield on a 10-year Treasury was down three basis points at 2.65%.

S&P 500 - Risers
Tenet Healthcare Corp (NYSE: THC - news) . (THC) $46.12 +9.13%
Newmont Mining Corp. (NEM) $26.45 +3.77%
Diamond Offshore Drilling Inc (NYSE: DO - news) . (DO) $53.50 +3.50%
Mylan Inc (NasdaqGS: MYL - news) . (MYL) $52.10 +3.48%
Aon plc (NYSE: AON - news) (AON) $84.95 +3.36%
Principal Financial Group (PFG) $46.29 +3.35%
Weyerhaeuser Co (NYSE: WY - news) . (WY) $29.52 +2.71%
VF Corp. (VFC) $61.44 +2.21%
Family Dollar Stores Inc (NYSE: FDO - news) . (FDO) $58.31 +2.21%
Reynolds American Inc (NYSE: RAI - news) . (RAI) $55.10 +2.17%

S&P 500 - Fallers
Amazon.Com Inc. (AMZN) $303.83 -9.88%
Masco Corp. (MAS (Shenzhen: 300275.SZ - news) ) $20.78 -7.44%
TripAdvisor Inc (NasdaqGS: TRIP - news) . (TRIP) $77.39 -7.30%
KLA-Tencor Corp. (KLAC) $62.91 -7.13%
Netflix Inc (NasdaqGS: NFLX - news) . (NFLX) $322.08 -6.39%
FLIR Systems Inc (NasdaqGS: FLIR - news) . (FLIR) $35.05 -5.75%
Wynn Resorts Ltd (NasdaqGS: WYNN - news) . (WYNN) $201.49 -5.46%
Cerner Corp (Frankfurt: CRE.F - news) . (CERN) $49.51 -5.30%
Leggett & Platt Inc. (LEG) $31.97 -5.25%
Facebook Inc (NasdaqGS: FB - news) . (FB) $57.71 -5.19%

Dow Jones I.A - Risers
McDonald's Corp. (MCD) $100.73 +0.89%
Coca-Cola Co. (KO) $41.01 +0.76%
General Electric Co. (GE) $26.60 +0.53%
Exxon Mobil Corp. (XOM) $100.41 +0.40%
Wal-Mart Stores Inc. (WMT) $78.62 +0.40%
Procter & Gamble Co. (PG) $81.41 +0.32%
Pfizer Inc (NYSE: PFE - news) . (PFE) $30.75 +0.13%
Microsoft Corp. (MSFT) $39.91 +0.13%

Dow Jones I.A - Fallers
Visa Inc. (V) $198.93 -5.00%
Intel Corp. (INTC) $26.26 -1.83%
Walt Disney Co. (DIS) $78.23 -1.71%
Goldman Sachs Group Inc. (GS (KSE: 078935.KS - news) ) $158.24 -1.62%
United Technologies Corp (NYSE: UTX - news) . (UTX) $117.21 -1.49%
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $23.00 -1.41%
Unitedhealth Group Inc. (UNH) $75.66 -1.21%
Nike Inc (NYSE: NKE - news) . (NKE) $72.70 -0.94%
Boeing Co (NYSE: BA - news) . (BA) $128.66 -0.92%
JP Morgan Chase (Other OTC: JFTTL - news) & Co. (JPM) $55.70 -0.87%

Nasdaq 100 - Risers
Mylan Inc. (MYL) $52.10 +3.48%
Baidu Inc (Xetra: B1C.DE - news) . (BIDU) $162.91 +1.98%
Intuit Inc (NasdaqGS: INTU - news) . (INTU (LSE: INTU.L - news) ) $75.34 +1.59%
Staples Inc (NasdaqGS: SPLS - news) . (SPLS) $12.29 +1.53%
Mattel Inc (NasdaqGS: MAT - news) . (MAT) $37.99 +0.82%
Stericycle Inc (NasdaqGS: SRCL - news) . (SRCL) $113.96 +0.75%
Apple Inc (NasdaqGS: AAPL - news) . (AAPL) $571.98 +0.74%
Group Plc ADS (VOD) $36.67 +0.69%
Celgene Corp (Berlin: CG3.BE - news) . (CELG) $142.06 +0.57%
Starbucks Corp. (SBUX) $71.45 +0.51%

Nasdaq 100 - Fallers
Amazon.Com Inc. (AMZN) $303.83 -9.88%
Illumina Inc (NasdaqGS: ILMN - news) . (ILMN) $139.71 -7.89%
TripAdvisor Inc. (TRIP) $77.39 -7.30%
KLA-Tencor Corp. (KLAC) $62.91 -7.13%
Netflix Inc. (NFLX) $322.08 -6.39%
Vimpelcom Ltd Ads (VIP) $8.19 -5.54%
Wynn Resorts Ltd. (WYNN) $201.49 -5.46%
Cerner Corp. (CERN) $49.51 -5.30%
Facebook Inc. (FB) $57.71 -5.19%
Nxp Semiconductors Nv (NasdaqGS: NXPI - news) (NXPI) $58.87 -5.05%

AB

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