U.S. stock markets were mixed Tuesday after various corporate earnings results were released for the third quarter. With this quarter notorious for being weaker for earnings, many investors were not surprised by lackluster results, though some came from companies that were set to have better-than-expected reports. Further developments coming from Brexit also did not bring favorable results for companies that make majority profits overseas.
Here's how the stock market settled after closing Tuesday:
S&P 500 Index (SPY): -0.33% or 10 points
Dow Jones Industrial Average (DIA): -0.13% or 33.91 points
NASDAQ Composite Index (QQQ): -0.72% or 58.69 points
Tuesday the British House of Commons voted in favor of moving forward with the Brexit plan Prime Minister Boris Johnson had negotiated with E.U. officials prior. But in a separate vote, the chamber decided to not proceed with Johnson's timetable of commencing Brexit before the deadline of October 31. The European Union is likely to move towards extending the withdrawal process, to give more time for Parliament to review the bill.
In U.S. economic news, the National Association of Realtors reported a larger-than-expected decline in September, mirroring other past economic data for the month. Sales of previously owned house fell 2.2% to a rate of 5.38 million. The Richmond Fed's Manufacturing Index posted a positive increase for October, with the composite index rising from -9 in September to 8 in October. All three components, shipments, new orders, and employment, have increased since their fall last month. Many respondents of the survey conducted reported that they were optimistic that conditions would continue to improve in the next six months.
In Stock news, the toy company Hasbro, Inc
In U.S. Stock Sector news, the 11 sectors were as mixed as the current market surrounding Brexit and earnings reports. The top gainers included Energy +1.31%, Industrials +0.81%, Utilities +0.45%, Health Care +0.17%, and Consumer Staples +0.03%. The losses for the day were Information Technology -1.37%, Communication Services -0.90%, Consumer Discretionary -0.72%, Materials -0.41%, Real Estate -0.39%, and Financials -0.28%.
Finally in Commodity news, the price per barrel for West Texas Intermediate increased 1.40% today, pricing crude around $54. Brent Crude also increased over 0.9%, making the price per barrel costing around $60. In opposite fashion, the price of gold decreased today -0.47%, making the price per ounce settle at $1,487.60.
- https://www.bbc.com/news/uk-politics-50146182
- https://www.nar.realtor/newsroom/existing-home-sales-decrease-2-2-in-september
- https://www.richmondfed.org/research/regional_economy/surveys_of_business_conditions/manufacturing/2019/mfg_10_22_19
- https://www.cnbc.com/2019/10/22/toymaker-hasbro-misses-revenue-estimates.html