Market Recap – October 26th
After a volatile trading session, the stock market lost gains made early in the day as investors priced in weaker-than-expected earnings by Google and Microsoft. The S&P 500 fell 0.74%, the NASDAQ Composite went down 2.04%, and the Dow Jones barely remained positive at 0.01%. Tech companies droves today’s market performance following several missed earnings, with the two most notable names being Google and Microsoft. Google’s Class A shares had closed the day down by 9.14% after missing analysts’ revenue expectations on every front. Although Microsoft exceeded their earnings and revenue estimates, it missed cloud revenue and company guidance for the third quarter, which caused their shares to plummet 7.72% today.
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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.