Market Recap – October 19th
On Thursday’s trading day, markets continued to push lower as more comments by the Federal Reserve sent the Treasury yields higher. In the past weeks, investors have eyed the yield on the 10-year U.S. Treasury bond to gauge uncertainty on long-term interest rates. For the main indices, the S&P 500 dropped 0.85%, the NASDAQ Composite went down 0.96%, and the Dow Jones fell 0.75%. Two major stocks to show higher price movements were tech leaders Netflix and Tesla, both of which reported third-quarter earnings after Wednesday’s bell. After reporting earnings that didn’t meet both top and bottom lines, Tesla’s stock shed 9.30% as the EV company faced lower demand and increased competition issues. In the green, however, was entertainment king Netflix, with its stock soaring 16.05% after reporting a subscriber gain that blew estimates out of the water with over 8.75 million subscribers added during the quarter.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
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.