Facebook falls, users are spending 50 million hours a day lesson the social network and happy about it shares set to open at the record. Its a huge day for tech earnings, mike soeflft, alphabet and amazon, all on tap after the bell. Futures signal a sharply lower open obviously a whipsaw week so far. Facebook is the top story. Up in the premarket, the social network post better than expected forecasts and increase in ad sales despite the time spent by Users Falling by 50 million hours a day. Mark zuckerberg last night on the earnings call. The most important driver of our business has never been time spent by itself. Its the quality of the connection and thats why i believe this focus on meaningful social interaction is the right one. The first ever quarter on quarter dau decline in the u. S. And canada they say its not a trend. They say its not a trend i think youve got to believe. The market probably doesnt believe in them because this thing is selling at a multiple almost the market
Major averages here, all of them down by more than 1 . It would be tough to pin that on mario draghi since he spoke early this morning new york time. Its a broadbased selloff we are seeing today, we have energy stocks, health care stocks, financials, all trading lower and accelerating the decline. On. Day has gone interesting situation here, without a sharp catalyst necessarily as we head into the afternoon. Earlier affecting european stocks much more sharply than u. S. Stocks, coming out with a Quantitative Easing Program which he did not extend the size, he only extended the duration. Many Market Participants were surprised. I want to point out the movement we are seeing in transportation stocks today as well. The dow transportation average down 1. 7 , its lowest in about two months time. More bad news from the railroads today, Credit Suisse has been holding a two day industrials conference. Yesterday we heard some of their railways giving their outlooks. Union pacific the latest. It
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