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Home / Business / Market Update: October 23, 2018

Market Update: October 23, 2018



US equities lost at the end of regular trading on Tuesday.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = " The Dow ( ^ DJI ) lost 0.5% or 125.98 points at the close of trading The S & P 500 (^ GSPC) fell 0.55% or 15.19 points Over the past 14 meetings, trading has been over 1

2 points back, the Nasdaq ( ^ IXIC ) fell by 0.42% or 31.09 points. "data-reactid =" 16 The Dow ( ^ DJI ) slipped 0.5% or 125.98 points from market close The S & P 500 (^ GSPC) fell 0.55% or 15.19 points and ended trading for 12 of the last 14 sessions. ^ IXIC ) lost 0.42% or 31.09 points.

Earlier in the day, stocks slipped after disappointing financial results from major manufacturers such as Caterpillar and 3M, with the Dow even losing 548.62 points [1965] 19659003] Usually, the stock of a company will fall if the financial results disappoint twits. But what's remarkable about the current reporting season is that the news, which turned out better than expected, also does not yield.

The closing prices of the S & P 500 since the beginning of the year

"The recent slumps in the US stock markets have turned into big waves of conspiracy theories about the reasons for the .The scapegoats are not profits or predictive indicators, but simply that tightened financial conditions have ", wrote Jefferies analyst Sean Darby in a note.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Darby cited as a headwind to stock prices the combination of a strong dollar and rising US bond yields. "data-reactid =" 42 Darby called the combination of a strong dollar and rising US bond yields as headwinds for stock prices.

SHARES: Caterpillar, 3M disappoint

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Caterpillar (CAT) disappointing annual forecasts, despite the company's revenue and profits that exceeded analysts' expectations. Turnover increased 18% to $ 13.5 billion, compared to Wall Street's average $ 13.3 billion expectations. Earnings were $ 2.86 a share, a penny better than expected. However, Caterpillar found that manufacturing costs were higher due to higher material and freight costs, and that material costs increased with rising steel prices and tariffs. Caterpillar, a major player in global industrialization, is widely regarded as an economic hub, and investors are looking for signals of fallout from the trade war. Caterpillar's stock slid 7.54% to $ 119 a share on Tuesday's close. "Data-reactid =" 44 "> Caterpillar (CAT) posted disappointing annual forecasts, even though the company achieved revenue and profits Revenues increased 18% to $ 13.5 billion, compared to average expectations Revenue was $ 2.86 per share, a penny better than expected. However, Harpepillar pointed out that manufacturing costs are higher due to higher production costs Freight costs and material costs rose as steel prices and tariffs rose. Caterpillar, a key player in global industrialization, is widely regarded as a business leader, and investors are looking for signs of trade impact from Caterpillar slipping 7.54% to $ 119 per share at the end of trading Tuesday.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " 3M (MMM) downw changed its forecast for the annual profit and sent mixed manufacturer's shares into early trading. The company trimmed its outlook for the third time this year and presented a guidance for adjusted earnings of $ 9.90 to $ 10 per share in 2018, after previously $ 10.20 to $ 10.45 per share was assumed. Consumer sales declined 3.4%, while healthcare sales declined 2.8%. The company achieved GAAP earnings of $ 2.58 per share on revenue of $ 8.15 billion, compared to average analyst expectations of $ 2.71 per share on revenues of $ 8.4 billion -Dollar. The stock fell 4.36% to $ 192.58 per share on Tuesday's close. "Data-reactid =" 45 "> 3M (MMM) revised down its forecast for the year's profit and sent in shares of the mixed manufacturer. The company has trimmed its outlook for the third time this year and forecasts for that Adjusted earnings of $ 9.90 per share in 2018, a forecast of $ 10.20 to $ 10.45 per share, while revenue in Healthcare fell by 2.8% .The company achieved a GAAP Earnings of $ 2.58 per share on revenues of $ 8.15 billion, compared to average analyst expectations of $ 2.71 per share on revenues of $ 8.4 billion. The stock fell 4.36% to $ 192.58 per share from close on Tuesday.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " McDonald & # 39; s (MCD) surpassed Wall Street's expectations both at the top and in the balance sheet, store sales. The company made a profit of $ 2.10 per share, 11 cents better than average analyst expectations. Sales in the same business decreased slightly by 2.4% compared to 2.5%, while international retailers' sales were 4.2% above the consensus of 3.7%. McDonalds' shares rose 6.33% to $ 177.17 at the end of the session. "Data-reactid =" 46 "> McDonald's (MCD) beat Wall Street expectations both at the top and at the end, but missed domestically The company made a profit of 2 Domestic retail sales declined slightly by 2.4% compared to 2.5%, while international retailers' turnover was 4.2% higher than the consensus of the United States McDonalds shares rose 6.33% to $ 177.17 at the close of the session.

Traders work on the New York Stock Exchange (NYSE) floor in New York, USA, October 11, 2018. REUTERS / Brendan McDermid

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " United Technologies (UTX) reported quarterly earnings that exceeded average analyst expectations and raised its earnings forecast for full-year 2018, citing strong demand for jet engines and aircraft parts. The company delivered in the third quarter $ 16.5 billion, 10% more than last year. United Technologies raised its guidance for adjusted earnings in 2018 to $ 7.20 to $ 7.30 per share from $ 7.10 in the prior year to $ 7.25, the company said Companies with. The stock rose 2.87% to $ 130.03 on Tuesday. "Data-reactid =" 71 United Technologies (UTX) reported quarterly earnings that exceeded average analyst expectations and raised its full-year earnings forecast for 2018, based on strong demand for engines and aircraft parts The company delivered revenues of $ 16.5 billion by 10% over the previous year. United Technologies increased its guidance for adjusted earnings in 2018 to $ 7.20 to $ 7.30 per share Compared with previous projections of $ 7.10 to $ 7.25, the company said in a statement , Shares rose 2.87% to $ 130.03 per share on Tuesday.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – -sm Mt (0.8em) – sm" type = "text" content = " Verizon (VZ) , the parent company of Yahoo Finance, delivered quarterly earnings and earnings over expectations.The net profit in the third quarter rose to $ 5.06 billion or $ 1.19 per share, compared to $ 3.74 billion Total revenues were up 2.8% to $ 32.61 billion, up 4.07% on the closing Tuesday, to $ 57.22 per share. "Data-reactid = "72"> Verizon (VZ), the parent company of Yahoo Finance, delivered quarterly results Expectations Quarterly earnings increased from $ 3.74 billion, or 89 cents per share, in the prior year quarter to $ 5.06 billion Dollar or $ 1.19 per share. Total revenue increased 2.8 percent to $ 32.61 billion. The stock rose 4.07 percent to $ 57.22, closing Tuesday.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow this on Twitter: @emily_mck "data-reactid =" 74 "> Emily McCormick is a reporter at Yahoo Finance. Follow them on Twitter: @emily_mck

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" Read more from Emily: "data-reactid =" 75 "> Read more from Emily:

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