EmailEquities started the day on a mixed note before a broad sell-off sent the major averages to their session lows. The weakness started in the technology sector where a slew of companies lowered their third quarter guidance. After reaching their worst levels of the day, the key indices traded sideways until late day selling coincided with reports the U.S. Attorney in Manhattan filed a civil mortgage fraud lawsuit against Wells Fargo (WFC 35.12, -0.68). The company has since come out and denied any wrongdoing. As a result, the S&P 500 fell 1.0% while the Nasdaq underperformed with a loss of 1.5%.
Today after the close the following companies are scheduled to report earnings: ADTN, AA, MG, YUM
Futures are lower after hours: S&P 500 futures are -0.22 from fair value of 1436.12 and Nasdaq100 futures are -1.65 from fair value of 2735.65.
Tomorrow morning before the open one economic report is scheduled to be released: 1) MBA Mortgage Index.
Tomorrow before the open the following companies are scheduled to report earnings: COST, HELE, HST, PGR
