Market Update: Wednesday's Mid-Day Movers: U.S., Asian Markets Slow; Apple, Microsoft, Chipotle, IBM And More

Earnings week is heating up the markets; just yesterday, Apple reported positive earnings, but yet, the stock is plummeting. U.S. stocks in general are being pushed down with the most valuable company in the world – Apple Inc. (NASDAQ: AAPL). The tech giant reported earnings 38 percent higher than last years, with a 35 percent increase in iPhone sales; China sales of the iPhone more than doubled.

Although iPhone sales were 35 percent better than last year, the number just did not meet Wall Street’s high expectations, and shares declined nearly 5 percent in early trading Wednesday. Shares of Chipotle Mexican Grill, Inc. (NYSE: CMG) soared after releasing better-than-expected earnings and sales.

Related Link: Microsoft Q4 Earnings Top Views

Moving along, U.S. oil futures slipped below $50 due to a rise in crude oil stockpiles; U.S. crude inventories rose by 2.5 million barrels. Asian shares are falling again after recent gains; U.S. heavyweight technology companies – particularly Apple, International Business Machines Corp. (NYSE: IBM) and Microsoft Corporation (NASDAQ: MSFT) – reported disappointing earnings and frightened the Asian markets. Gold falls yet again on London’s spot market as investors continue to fear a hike in rates.

Despite fears in the market, stocks continue to move:

Winners

Related Link: Apple Live Blog: Q3 Earnings Conference Call

Losers

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