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US markets close in red, Asia volatile

April 23rd, 2008

The Asian markets are trading volatile in the early hours of opening bell and are slowly gaining strength. Shanghai Composite is up over 1.89% while the rest of the markets are moving marginally between the red and green territories.

Earlier the US Stock Markets had a relatively bad day. The NASDAQ lost 31.1 points down 1.29%. Dow Jones Industrial Average is down 104.79 points and is down 0.82%. The S&P 500 is down 12.23 points or 0.88%.

The most declining stocks on the NASDAQ today are UAL Corporation, Omnicell, Inc., Netflix, Inc., Trubion Pharmaceuticals, Inc. and Bruker Corporation amongst others.

Netflix (NFLX) is down despite a positive Q1 results announcement. Traders and Investors seems to be cautious after Netflix said that increased investments in digital downloads would cut their earnings this year. The script closed at 30.00 (down 9.32 points; down 23.70%) and has a P/E of 30.87.

Entry Filed under: Global Markets