financetom
Market
financetom
/
Market
/
Corporate Earnings, Macro Data Leave Equity Markets Mixed
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Corporate Earnings, Macro Data Leave Equity Markets Mixed
Oct 26, 2024 8:00 AM

04:26 PM EDT, 10/25/2024 (MT Newswires) -- US benchmark equity indexes closed mixed Friday as investors evaluated the latest corporate earnings and economic data.

The Dow Jones Industrial Average fell 0.6% to 42,114.4, while the Nasdaq Composite rose 0.6% to 18,518.6. The S&P 500 was little changed at 5,808.1. Utilities saw the steepest decline among sectors, while communication services led the gainers.

For the week, the Dow dropped 2.7%, while the S&P 500 lost 1%. The Nasdaq ticked up 0.2%.

In company news, Mohawk Industries ( MHK ) shares slumped nearly 14%, the biggest drop on the S&P 500. Late Thursday, the company issued a fourth-quarter earnings outlook that fell short of Wall Street estimates.

HCA Healthcare's ( HCA ) third-quarter results missed the Street's views Friday as Hurricane Helene impacted some of its facilities. The hospital operator said it expects a further hurricane-related hit in the ongoing quarter. The company's shares tumbled 8.9%, the third-worst performer on the S&P 500.

McDonald's (MCD) saw the steepest decline on the Dow, down 3%, after US health authorities said that the number of E. coli cases potentially linked to the fast-food giant's Quarter Pounder hamburgers increased to 75 across 13 US states as of Thursday, adding that the actual number of sick people could be "much higher."

Capri (CPRI) shares plunged 49% Friday following a court ruling that temporarily blocked the luxury fashion company's proposed acquisition by Coach and Kate Spade owner Tapestry (TPR). Tapestry shares surged 14%, the top gainer on the S&P 500.

Deckers Outdoor ( DECK ) was the second-best performer on the S&P 500, up 11%. The company delivered a fiscal second-quarter beat late Thursday.

In economic news, US durable goods orders fell in September, weighed down by sharp declines in defense and civilian aircraft, according to government data.

"Pop the hood and the September durable goods report reveals encouraging signs of life away from the gloom of nondefense aircraft orders," BMO said in a report. "Many months of brutal Boeing ( BA ) order declines have pushed nondefense aircraft orders down 43.9% from a year ago."

US consumer sentiment this month rose to its highest level since April, while long-term inflation expectations eased, final results from the University of Michigan's Surveys of Consumers showed.

West Texas Intermediate crude oil increased 2.1% to $71.65 a barrel Friday.

Gold rose 0.2% to $2,754.90 per troy ounce, while silver dropped 0.1% to $33.76 per ounce.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
LIVESTOCK-CME cattle futures fall on technical trade, E. coli outbreak concerns
LIVESTOCK-CME cattle futures fall on technical trade, E. coli outbreak concerns
Oct 27, 2024
CHICAGO, Oct 23 (Reuters) - Chicago Mercantile Exchange cattle futures turned lower on Wednesday, amid a flurry of technical selling and uncertainty whether consumer demand for beef would chill after an E. coli outbreak was linked to McDonald's Quarter Pounder burgers, traders said. The outbreak has sickened 49 people in the U.S., with 10 hospitalized due to serious complications and...
Nasdaq, S&P 500 Rise Amid Tesla Rally; Dow Falls
Nasdaq, S&P 500 Rise Amid Tesla Rally; Dow Falls
Oct 27, 2024
04:57 PM EDT, 10/24/2024 (MT Newswires) -- The Nasdaq Composite and the S&P 500 closed higher Thursday, aided by a post-earnings rally in Tesla (TSLA) shares, while the Dow Jones Industrial Average fell. The technology-heavy Nasdaq rose 0.8% to 18,415.5, while the S&P 500 advanced 0.2% to 5,809.9. The Dow dropped 0.3% to 42,374.4. Consumer discretionary led the gainers among...
US Equity Indexes Mixed This Week as Surging Treasury Yields Offset Risk Sentiment From Earnings
US Equity Indexes Mixed This Week as Surging Treasury Yields Offset Risk Sentiment From Earnings
Oct 27, 2024
05:02 PM EDT, 10/25/2024 (MT Newswires) -- US equity indexes were mixed this week amid concern that the fiscally expansionary policies of presidential election candidates would likely force the Federal Reserve to keep interest rates higher for longer, outweighing the impact of quarterly earnings. * The Dow Jones Industrial Average ended at 42,114.40 on Friday, compared with 43,275.91 a week...
Freeport-McMoRan Scores A Solid Q3, Analysts Say: 'Benefit From High Copper And Gold Prices'
Freeport-McMoRan Scores A Solid Q3, Analysts Say: 'Benefit From High Copper And Gold Prices'
Oct 27, 2024
Freeport-McMoRan ( FCX ) closed Wednesday’s trading session 1.26% lower at $47.92 as the market further digested its third-quarter earnings results. The leading copper miner reported slightly lower earnings per share, coming at $0.36 instead of the expected $0.37, while soundly beating the consensus revenue estimates of $6.44b, with an actual $6.79. The response from institutions has been mixed. Raymond...
Copyright 2023-2025 - www.financetom.com All Rights Reserved