dowoct23-300x143 Market Snapshot - Wednesday 10.23.19

The primary focus today was heavily aimed at corporate earnings. As you can see in the chart above, the Dow rose slightly after a mid-morning and mid-day dip. The S&P 500 crept slightly higher toward its record high set in July, with a 1% move to go.


Caterpillar earnings came in lower than analysts had expected, according to Refinitiv, gaining $2.66 per share vs and estimated $2.88 EPS.Shares of the manufacturer fell 6% in premarket before reversing and closing higher 1.2%.


Boeing’s earnings came in far below analyst expectations ($1.45 per share against Refinitiv’s estimates of $2.09) but its shares rose 1% after mentioning that its 737 Max is on schedule for return to operations.


The Dow closed 0.2% or 45.85 points up at 26,833.95, the S&P 500 advanced 0.3% to 3,004.52, and the Nasdaq notched up 0.2% closing at 8,119.79.


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