Market Recap – October 27th
After a packed day of earnings by Amazon and Apple, third-quarter GDP data, and record-high mortgage rates, stocks were quite volatile with tech companies leading today’s losses. The S&P 500 dropped 0.61% and the NASDAQ Composite went up 1.63%, with the Dow Jones being the only one that increased, rising 0.61%. Meta claimed the spotlight for today’s stock performance, with the $250 billion tech company down a substantial 24.56% after missing analysts’ earnings estimates. On the positive front, shares of ServiceNow Inc were up 13.44% at the bell following their positive company guidance and Q3 revenues.
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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.