Closing Bell: PayPal Pushes Nasdaq to New Record; Crude Ends at One-Month Low

Better-than-expected earnings from PayPal drove the Nasdaq to new records, while a slump in crude oil kneecaps any big gains for the rest of the market.

Author:: Keris Alison Lahiff
Publish date:: Apr 27, 2017 4:18 PM EDT

Wall Street ran at two speeds with better-than-expected earnings from PayPal (PYPL) - Get Report driving the Nasdaq to new records, while a slump in crude oil kneecapped any big gains for the rest of the market. Crude closed at its lowest level since March 28. Whole Foods Market (WFM) was active on reports an activist investor was pressuring the company to explore its strategic options. That investor has floated the idea of a sale or joint venture. Amgen (AMGN) - Get Report fell after a double-digit slump in sales of its rheumatoid arthritis drug raised concerns over future performance. Adjusted earnings did surpass estimates, though revenue fell short. Ford (F) - Get Report fell as safety recall costs ate into profit over its first quarter. Net income declined by 35%, while revenue rose by 4%. Adjusted earnings did beat estimates, though.