After the technology stock fluctuations of last week, investors were hoping for a calmer week of steady gains. That does not appear to be in the cards for the last week of July. US investors started the day on Monday to see their portfolios in chaos as the Shanghai Composite Index (SHCOMP) took a -8.48% dive overnight. That represents the worst single day drop for the index in eight years. While the fluctuation in the index is a problem for US investors, the drop is also a result of commodities and oil losses. The S&P 500 opened Monday with a drop of 0.4% after being up 1% on Friday. While 1% may not seem like a large sum, it is the majority of the gains made for the year.
Oil and other types of energy are down over the weekend. Crude oil (CLU5) is trending at -0.76%, and it’s already down 16% for the year. That same stock is already down 50% from the previous year, which clearly shows signs of stress. If there is a bright spot on the indexes, it would be in the healthcare sector that has been steadily holding for the last several years due to innovation and a greying of American.
Stock News: Poorest Performers
If you are in the market to buy low and hang on for a wild ride, these stocks could be your ticket. The majority of the biggest losers could find a rebound and day.
Biogen (NASDAQ:BIIB) -0.10% is having a rough year, and due to current trading activities, the company has cut revenues on their stock growth predicts from 14% or 16% to 8% or 6%.
United Technologies (NYSE:UTX), -0.44% was down after a report from the company that sales took a 5% hit. They also reported that their associated companies Otis Elevators and UTC Aerospace would post lower than predicted revenues because of fluctuations in global markets across Asia and Europe.
Financial company Capital One Financial Corp (NYSE:COF), -0.32% watched as stocks tanked and fell 13% at the close of business before the weekend. The bank missed profit predictions and reported more loan losses than expected. Their $935 million in loan losses grew to $1.13 billion. It was only at $704 million the prior year.
The travel platform TripAdvisor Inc (NASDAQ:TRIP) at -0.32 was down on Friday by 13%, and it has also missed predicted sales and profits for the quarter.