Volatility just won't go anywhere.
Wilbur Ross' comment earlier Thursday that the U.S. is "miles and miles" away from a trade deal sent the Dow Jones Industrial Average down more than 40 points, and as much as 100 points on the day. The index has been fluctuating for the past two days, and although it's up on the year, it's down days are harsh.
More China Concerns
Needham & Co. analyst Rajvindra Gill revised estimates downward on a handful of semiconductor stocks because of "China weakness." This is another warning flag on global economic growth. Gill revised:
- Microchip Technologies Inc. (MCHP - Get Report) downgraded to buy from strong buy.
- Synaptics Inc. (SYNA - Get Report) , price target lowered
- Silicon Laboratories (SLAB - Get Report) , price target lowered
- NXP Semiconductors NV (NXPI - Get Report) , price target lowered
- ON Semiconductor Corp. (ON - Get Report) , estimates lowered
- Magnachip Semiconductor Corp. (MX - Get Report)
U.S. M&A Hurt By Gov. Shutdown?
The government shutdown likely put a dent in the consumer sentiment index, according to many on Wall Street. But could it hurt M&A, and broader capital markets in the U.S.? The Securities and Exchange Commission, for example, needs to be involved in a public offering. Of course, with the government shutdown, there's an issue with IPO's. TheStreet's Steve Gelsi, a deals writer, reports.
Intel Corp. (INTC - Get Report) reports earnings Thursday. RealMoney's Kevin Curran was on Intel all day Thursday. TheStreet will be covering earnings. TheStreet's Katherine Ross will be tweeting out news on the conference call this evening.