Market Recap – October 31st
On Tuesday’s trading day, markets rose slightly higher as investors continued to attempt to bounce back from last week’s losses. Ahead of the FOMC meeting and interest rate decision on Wednesday, investors have looked at corporate earnings season to judge different industries and overall economic activity. After October’s close, the S&P 500 logged its first 3-month negative streak since 2020, depicting the difficulties major averages have had in recent times. For the main indices, the S&P 500 grew 0.65%, the NASDAQ Composite went up 0.48%, and the Dow Jones rose 0.38%. Two individual companies to soar into the green throughout the trading day were Pinterest and Anheuser-Busch. Social media platform Pinterest had its shares rise 19.04% after top and bottom-line beats on its third-quarter earnings report. Beer maker Anheuser-Busch had its stock grow 5.26% following an earnings beat from cost-cutting measures.
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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.