US market recap September 23, 2016

DJIA 18,261.45 -131.01 points (-0.71%)
S&P 500 2,164.69 -12.49 points (-0.57%)
Nasdaq 5,305.75 -33.78 points (-0.63%)

U.S stock market takes a downturn at the end of last week the price fell after gaining for two consecutive sessions. Basic materials sector tumbled the most on crude oil 3.73% retreat, and Saudi mentioned its doubt that OPEC meeting would reach production cut decision. Also Russia reluctant to join cut before OPEC members reach consensus on a production cut.

Goldman Sachs (GS) weighs on Dow Jones Industrial Averages. Shares of the company closed down 2.89% on Friday followed by 3M (MMM) and Apple (AAPL). Goldman Sachs reported ready to cut 25% of Bank job in Asia excluding Japan, the cut decided after the slump of deal in the region.

Earnings report, Merger-Acquisition, Shares report

Twitter (TWTR) took a flight and closed up 21.42% after the company confirmed takeover deal. According to CNBC the company ready to finalize the transaction by the end of this year. In the past, Google and Salesforce.com are rumored among the potential buyer.

Oshkosh (OSK) plunge 10.58% to $50.88 after downbeat 2017 outlook. The company expect adjusted earnings between $3 – $3.40 per share and revenue between $6.5 – $6.7 billion. Analyst expects adjusted earnings of $3.56 per share and revenue of $6.7 billion for the fiscal year 2017.

Moody’s Investor service cut Turkey’s credit rating to Ba1 from Baa3, the cut place Turkey bond into junk bond.

Dalian Wanda has been opened about its competition with Walt Disney (DIS), the company announced on Saturday opening of 34 billion yuan ($5.1 B) tourism park in the eastern city of Hefei.

Snap Inc CEO Evan Spiegel uncover first physical product of its company the “spectacle” which at first look like regular glasses. The spectacle used to record up to 10 seconds video from first person view when you tap on the button near the hinge.