dowoct22-300x167 Market Snapshot - Tuesday 10.22.19

Stocks fell slightly today on what turned out to be an underwhelming session.


The Dow closed down 39.54 points (0.15%) to 26,788.10. The S&P 500 pulled back 0.4% tp 2,995.99. The Nasdaq slid 0.7% down to 8,104.30.


McDonald’s missed expectations on earnings and revenue. Shares of the burger behemoth dropped 5%. Travelers’ earnings were well off estimates, causing its shares to fall more than 8%. United Technologies and Procter & Gamble topped expectations–shares of both companies climbing 2.2% and 2.6% respectively.


Nearly 20% of the S&P 500 companies have reported Q3 earnings. Almost 80% of them have met or topped analyst expectations.


Indexes took a turn mid-day, however, as lawmakers in the UK rejected proposals of a limited time frame to review a brexit deal. 


Existing home sales came in at 5.380 million, below the 5.440 consensus but within consensus range of 5.370 to 5.550 million. Year-on-year, however, September sales were up 3.9% which is the best showing since March 2017.


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