Lackluster earnings reports sent major indexes back to earth today
As expected, earnings controlled Wall Street's sentiment today, with a slew of lackluster big-name reports pushing the Dow off its fresh peak and down triple digits, alongside the Nasdaq. The S&P 500 trailed with a loss of its own. Today's biggest drivers were blue chips and tech, including United Health (UNH), which pulled back 8.1%. Conversely, the VIX managed to claw its way back above 20.
Continue reading for more on today's market, including:
- Avoid this software name right now.
- Analyst: watch for "slower growth" on energy stock.
- Plus, another blue-chip earnings to digest; e-tailer brushes of bear note; and don't sleep on this small cap.
5 Things to Know Today
- Amid its highly anticipated earnings report, Walgreens Boots Alliance (WBA) revealed it will be closing 1,200 stores through 2027. (CNBC)
- The U.S. has warned Israel to improve the humanitarian situation in Gaza within the next month or it will risk further aid. (Reuters)
- Don't miss this blue chip earnings report.
- Small-business e-tailer brushes off bear note.
- Why small caps could be a sleeping giant.
Oil Plummets to 2-Week Lows
Oil plunged to two-week lows, after Israel stated it will not endanger Iranian oil reserves. November-dated West Texas Intermediate (WTI) crude fell $3.70, or 5%, to settle at $70.13 per barrel for the session.
Gold futures moved higher Tuesday, riding on the back of an easing 10-year Treasury yield. Gold for December delivery added 0.7% to trade at $2,683, at last check.