The Dow enjoyed a triple-digit jump on Tuesday
Another round of well-received earnings helped boost markets today, with the Dow adding 198 points, while the Nasdaq and S&P 500 both nabbed their fifth-consecutive daily wins. Additionally, both the Dow and S&P 500 now sit less than 1% from their record highs. Several big names were in the spotlight, with Dow members Travelers (TRV), Johnson & Johnson (JNJ), and Procter & Gamble (PG) all posting quarterly profits that topped expectations, though the latter-most dropped after announcing it was raising its prices due to a number of external factors. Meanwhile, investors will be eyeing reports from tech-giant Netflix (NFLX) and flight concern United Airlines (UAL) after tonight's close.
Continue reading for more on today's market, including:
- Is Chipotle stock's pre-earnings dip worth betting on?
- Cloud stock looking ripe for fresh highs.
- Plus, ETSY is ready for bulls; BABA's chip reveal; and why AVIS hit a new low.
The Dow Jones Average (DJI - 35,457.31) added 198.7 points or 0.6% for the day. Merck (MRK) paced the gainers with a 3% pop, while Procter & Gamble (PG) fell to the bottom, shedding 1.2%.
The S&P 500 Index (SPX - 4,519.63) added 33.2 points, or 0.7% for the day. The Nasdaq Composite (IXIC - 15,129.09) tacked on 107.3 points, or 0.7% for the day.
Lastly, the Cboe Volatility Index (VIX - 15.70) lost 0.6 point, or 3.7% for the day.
- The Center for Disease Control and Prevention (CDC) has released guidelines on how to trick-or-treat safely this Halloween, which include avoiding direct contact and handing out treats outside if possible. (MarketWatch)
- Alphabet's (GOOGL) Google just unveiled a new batch of smartphones, the Pixel 6 and the Pixel 6 Pro, which will be available for purchase on Oct. 28, and utilize the company's own Tensor chip. (CNBC)
- Could Etsy stock soon see a shift toward upbeat sentiment?
- Alibaba ramps up the competition on its semiconductor unveiling.
- The pharmaceutical stock that just hit rock bottom.
Russia Natural Gas Controversy Gives Oil a Boost
Oil prices nabbed another seven-year peak today amid news that Russia may not provide additional natural gas to European consumers, despite its original promise. The country is now asking for regulatory approval to begin shipping through its Nord Stream 2 pipeline, which has been the subject of much controversy, though it has the capability to run natural gas from Russia to Europe. November-dated crude rose 52 cents, or 0.6%, to settle at $82.96 a barrel.
Gold prices snapped their two-day slump on the back of a weakening dollar and a rise in global markets. December-dated gold tacked on $4.80, or 0.3%, to settle at $1,770.50 an ounce for the day.