Stock Market News: Costco Fights the Calendar; Oracle Predicts a Cloudy Future
Friday morning brought choppy trade to Wall Street, even as the White House made good on its comments earlier in the week suggesting that a deal between the U.S. and China on trade was in the works. Details of the early-stage agreement weren't yet fully available, but they likely include canceling new tariffs that were set to take effect Sunday as well as other deescalation of trade tensions. Just before 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 15 points to 28,117. The S&P 500 (SNPINDEX: ^GSPC) fell 3 points to 3,165, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 4 points to 8,721.
Two more big companies gave their latest views on their performance over the past quarter. Costco Wholesale (NASDAQ: COST) saw its stock fall despite posting solid numbers, and Oracle (NYSE: ORCL) shares also suffered modest losses as investors sought guidance about what the future might bring for the cloud giant.
Shares of Costco Wholesale fell about 2% after the retail giant reported its fiscal-first-quarter financial results. Costco managed to sustain growth, but not everyone was happy with the pace of its gains.
Source Fool.com
