Stock Market News: Amazon Dips, but Clorox Cleans Up
The stock market started off the month of May on a down note, as market participants reacted negatively to news from Washington. President Trump is reportedly looking at seeking to impose new tariffs on China, with accusations that essentially blamed the Asian country for the coronavirus pandemic. Shortly before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 388 points to 23,958. The S&P 500 (SNPINDEX: ^GSPC) lost 54 points to 2,859, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped 176 points to 8,714.
Amid growing geopolitical tension, earnings season continued for U.S. companies. Amazon.com (NASDAQ: AMZN) wasn't able to satisfy its shareholders completely, despite having impressive growth during the pandemic. Clorox (NYSE: CLX), however, got a better reception from its investors following good performance from its underlying business.
Amazon.com saw its shares fall 7% following the Thursday afternoon release of its first-quarter financial report. The numbers showed dramatic increases in coronavirus-related activity during the period, but they also reflected the new challenges of doing business under the pandemic's shadow.
Source Fool.com
