The NASDAQ is heading higher this morning despite some technology companies reporting less-than-stellar earnings. Both Twitter Inc. (NYSE/TWTR) and Yelp Inc. (NYSE/YELP) lost double digits. Meanwhile, precious metals continue to struggle, with gold tanking to below $1,100 an ounce. China’s stock market crash has been temporarily stopped, with the Shanghai Composite Index gaining 3.4% on Wednesday.
It’s only a few hours away from the Fed’s Open Market Committee meeting this afternoon. The U.S. economy has shown some growth on paper, but whether it could handle higher interest rates remains uncertain. Previously, the Fed said that it would raise interest rates sometime later this year.
On Wednesday morning, the Dow edged up 0.3%. The NASDAQ and S&P 500 also moved up, but at a smaller magnitude.
Top Technology Stories
Amazon Helping Start-Ups Sell Their Products
Amazon.com Inc. (NASDAQ/AMZN) launched the Amazon Launchpad program yesterday. The program aims at helping young companies with the logistics of selling their products.
Under the program, start-ups can let Amazon handle all the hassles with selling physical products, such as managing inventory, shipping, advertising, and even customer service.
Windows 10 is Here
Microsoft Corp.’s (NASDAQ/MSFT) new operating system Windows 10 is officially here today (July 29th). For users currently running Windows 7 and Windows 8.1, the upgrade to Windows 10 will be free.
The new operating system comes with Cortana, a personal digital assistant. Windows 10 also has Microsoft’s new browser—Microsoft Edge—and a touch-enabled version of Office. Now users can work with spreadsheets without using a keyboard or a mouse.
Nokia Reveals Ozo, a Virtual Reality Camera
Nokia Technologies is planning its return to the consumer market. On Tuesday July 28th, the company unveiled Ozo, a ball with eight cameras and microphones to capture 360 degree video and audio.
According to Nokia, the new camera is aimed at professional content creators rather than consumers. Nokia is not the first company with a virtual reality-capturing plan. Earlier in the year, GoPro, Inc. (NASDAQ/GPRO) announced that it would launch a six-camera spherical array to capture images and video needed to create virtual reality.
Top Stocks to Watch
Twitter Inc. (NYSE/TWTR)
After its earnings report yesterday, shares of Twitter initially climbed in after-hours trading. But things turned sour quickly during the earnings call. Shares of the social media firm plunged 13.4% on fears the company’s growth may be slowing.
Yelp Inc. (NYSE/YELP)
Yelp released its earnings after the closing bell yesterday. The company missed earnings expectations and also lowered its outlook. Yelp’s stock priced plunged almost 30% as of 10:00 a.m. on Wednesday morning. Analysts are also downgrading the company.
Tableau Software, Inc.(NYSE/DATA)
Investors are tough with Tableau Software. The company beat earnings expectations and has a strong outlook. But that did not prevent its stock price from tumbling 18.8% to $103.23 this morning.