Chris Hagan, vice president at Adviser Investments, has the market analysis for Thursday, July 26. Facebook’s (ticker: FB) nosedive continued, with the stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. falling 19%, losing nearly $120 billion in market cap—the company’s largest one-day loss ever. Meanwhile, Amazon’s stock rose over 4% in after-hours trading owing to the company’s historic quarterly profits and a 49% increase in year-over-year cloud business revenue. Although Chipotle closed the day down 1%, the stock was up 6% in after-hours trading on encouraging news of a continued turnaround. As we head into the weekend, we’ll watch for Friday’s GDP and consumer sentiment numbers.
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