Us Markets Down On Post Earnings Selloff

Us Markets Down On Post Earnings Selloff

US stocks fell this afternoon, with major indexes erasing earlier gains as a shooting at the Canadian parliament unnerved investors and Boeing and Biogen sold off following results.



Us Markets Down On Post Earnings Selloff
Us Markets Down On Post Earnings Selloff

The Dow fell 151.05 points or 0.91 to 16,463.76, the S&P lost 14.04 points or 0.72% to 1,927.24, and the Nasdaq dropped 36.63 points or 0.83% to 4,382.85. Crude oil also slid 2.4% to $80.52 a barrel, the lowest level on a closing basis in more than two years, after a US report showed inventories increased by 7.11 million barrels last week.

Four consecutive advances in the S&P 500 through yesterday pushed the gauge up 4.2% since Oct. 15, recouping half the losses from a selloff that began in mid-September. The equity index surged 2% yesterday, its best day since October 2013, as speculation the European Central Bank will boost stimulus to spur growth in the region.

The cost of living in the US barely rose in September, leaving inflation below the Federal Reserve’s goal as fuel prices plunge this month. The consumer-price index climbed 0.1% after decreasing 0.2% in August, a Labor Department report showed.

Almost 80% of S&P 500 companies that have released quarterly results this season beat profit projections, while 63% surpassed revenue estimates. Profit for index members rose 5.9% in the third quarter and sales increased 4% percent, analysts predicted.

 
 
 
 

This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.