Stock Market News: Cloudera Heads Skyward; Apache Falls on Debt Fears
The optimism on Wall Street proved to be short-lived, with major market benchmarks plummeting once more on Wednesday morning to give up much of their gains from the previous session. Worries about the global economy continued, and some criticized the federal government for failing to come up with a more definitive plan to provide fiscal stimulus. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 919 points to 24,099. The S&P 500 (SNPINDEX: ^GSPC) had fallen 97 points to 2,785, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had lost 258 points to 8,087.
Even in the wake of worries about the COVID-19 outbreak, earnings helped lift some stocks, and Cloudera (NYSE: CLDR) was a standout on the day. Meanwhile Apache (NYSE: APA) was among the worst decliners, with fears about the recent plunge in oil prices hitting the debt-laden oil and gas company especially hard.
Shares of Cloudera were higher by 3%, bucking the big downward trend among tech companies. The enterprise data cloud computing company reported solid results in its fiscal fourth quarter, signaling that this rising star in the industry could continue to gain ground in the near future.
Source Fool.com
