Apple Shines, Stocks Sink

A blockbuster quarter for Apple (Nasdaq:aapl) as the tech giant surged past wall street's expectations for both revenue and earnings per share.  The world's biggest tech company crushed expectations for iphone sales which came in at 74.5 million units sold compared to estimates of 65.7 million.

I-pad sales were down about 18% year over year, which was mostly expected. Apple stock surged almost 6% in after-hours trading. Another tech heavyweight posted a strong quarter - Yahoo (Nasdaq:yhoo) topped wall street's estimates for revenue and eps.  The company said it plans to spin off its remaining stake in Alibaba (NYSE:baba) in a tax-free deal, which will be completed in the fourth quarter of 2015.  Yahoo stock also jumping after hours, up nearly 7.5%.

Meanwhile, u.s. stocks plunged following a surprising drop in durable-goods orders and disappointing earnings from multinationals including Caterpillar (NYSE:cat) and Procter & Gamble (nyse:pg).  The dow's 391-point plunge was the benchmark's biggest decline in three weeks. And while the residential real estate market may still be a source of worry, the commercial market is heating up - and one company is getting a big boost. Prologis CEO joined me today in a fox business exclusive on why his European business is booming and how he is hedging against the euro.  Coming up tomorrow: At 2pm eastern we'll get the FOMC statement following the fed's meeting - investors will be closely watching this particularly in light of the recent ECB policy move.  Plus, we'll get quarterly results from Boeing (NYSE:ba), Las Vegas Sands - and perhaps the most anticipated name of the day - Facebook (Nasdaq:fb).