The major stock indexes took a breather in today’s stock market ahead of the Fed’s monetary policy decision due out at 2 p.m. ET. Expectations are for no change in policy. The Dow Jones industrial average was effectively flat. Former hot IPO stocks Roku (ROKU) and Square (SQ) plunged Thursday after their earnings results. Dow Jones stock Apple (AAPL) was a drag on the blue chip index. (For updates on this story and other market coverage, visit the Stock Market Today.)
The Dow Jones industrials hovered just below its break-even level, with blue chip stock Apple weighing on the index. The iPhone maker dropped 0.7%, on pace to snap a two-day winning streak. Meanwhile, the S&P 500 dropped 0.2%, and the tech-heavy Nasdaq fell 0.3%. At its morning lows, the Nasdaq fell as much as 0.7%.
Stock Market Earnings: Crocs, CyberArk Jump On Earnings
Among companies reporting earnings, Crocs (CROX) delivered strong earnings results, sparking a 20% gain. The stock is breaking out above the 22.17 buy point of a cup-shaped base, according to MarketSmith chart analysis. The stock’s breakaway gap means the 5% buy range topped out at 24.93. The stock’s relative strength line is hitting a new high, signifying strong market outperformance.
Square, Roku Fall On Earnings Results
After the stock market close Wednesday, leading payment processor Square declined about 9% after its earnings guidance missed estimates. Shares advanced 7% Wednesday, but remained below their 50-day moving average line.
Roku plunged 17% after its Q3 earnings results late Wednesday. The streaming video platform beat the Street’s estimates, and management guided higher for the current quarter.
Fellow payment processor Worldpay (WP) declined over 3% after its Q3 earnings results early Thursday. The stock is building a new base formation but is below its 50-day line.
IBD 50 Stocks: Ulta Beauty Drops
Among the leading growth stocks, Leaderboard stock Ulta Beauty (ULTA) dropped over 2% after updating its third quarter and fiscal-year 2018 guidance. Shares are about 2% below a flat base’s 290.40 buy point after a brief breakout on Tuesday. The stock is searching for support near its 50-day line.
Meanwhile, Alarm.com (ALRM) shot up almost 10% after its strong earnings results. Shares are on pace to regain their 50-day line, as a new base formation takes shape. The software stock fell as much as 32% from its 52-week high on Oct. 29 before rebounding.