Market Recap – October 20th
With poor housing data, high yield rates, and gloomy economic projections ahead, earnings calls weren’t enough to keep the market in the green. The S&P 500 dropped 0.80%, the NASDAQ Composite went down 0.61%, and the Dow Jones fell 0.30%. Some more positive earnings reports came from today, such as AT&T, whose stock grew 7.72% after the release of increased earnings and revenues. On the other hand, shares of Tesla were down 6.65% at the market’s close after not surpassing analysts’ earnings estimates, concluding that high inflation and operational costs led to decreased margins.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.