Market Recap – October 25th
On Wednesday’s trading day, markets pushed deeper into the red, carried by heavy losses in the Nasdaq from tech companies such as Google. With corporate earnings as this week’s key focus for investors, any poor results from major companies can and have had the potential to move entire indices, with the Nasdaq Composite finishing with its lowest daily return since February. For the main indices, the S&P 500 dropped 1.43%, the NASDAQ Composite went down 2.43%, and the Dow Jones fell 0.32%. Two companies to show drastic price movements from earnings releases were Google and Deutsche Bank. Despite posting beats on top and bottom lines, Google’s stock plummeted 9.51% after reporting third-quarter Cloud revenue that missed estimates by $200 million. In the green, however, was financial firm Deutsche Bank, with its stock rising 7.36% after joining other banks with stellar profits from the previous quarter.
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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.