TSX, Dow sell off for 2nd straight day + MORE Aug 2nd

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Tesla stock was up five per cent on Friday morning after CEO Elon Musk said the electric-car company would deliver 100,000 vehicles next year.

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U.S. stocks declined for a second day Friday, with the S&P 500 closing out its worst week in two years. Investors found little reason to move money into a stock market, with growing geopolitical concerns in Israel and Ukraine and concerns about U.S. corporate earnings, particularly in the energy sector.
On Friday:
The Dow Jones industrial average fell 69.93 points, or 0.4 per cent, to close at 16,493.37.
The Standard & Poor’s 500 index lost 5.52 points, or 0.3 per cent, at 1,925.15.
The Nasdaq composite fell 17.13 points, or 0.4 per cent, to 4,352.64.
For the week:
The Dow lost 467.20 points, or 2.8 per cent.
The S&P 500 fell 53.19 points, or 2.7 per cent.
The Nasdaq lost 96.92 points, 2.2 per cent.
For the year:
The Dow is down 83.29 points, or 0.5 per cent.
The S&P 500 index is up 76.79 points, or 4.2 per cent.
The Nasdaq is up 176.05 points, or 4.2 per cent.
The post How the Dow Jones industrial average and other major indexes fared on Friday appeared first on Canadian Business.

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North American stock markets slumped again on Friday, a day after big losses sparked by news of Argentina’s default and other bleak economic news.

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Warren Buffett’s Berkshire Hathaway Inc. on Friday said second-quarter profit soared 41 per cent, reflecting a substantial increase in investment gains and improved results in manufacturing, service and retail businesses.

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From high-flying social media companies to an innovative new way of typing for the future, it was a busy week in business news. The CBC’s Jacqueline Hansen gets you caught up in our business week in review.

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