Market Recap – October 27th
On Friday’s trading day, markets fell lower despite a moderate rebound felt throughout the tech-heavy Nasdaq Composite. With investors focused on the next Federal Reserve decision this upcoming week, earnings season has given a glimpse of corporate economic activity and how higher rates have affected top and bottom lines. The S&P 500, which fell into correction territory during the week, is on pace for its third-straight negative month. For the main indices, the S&P 500 dropped 0.48%, the NASDAQ Composite went up 0.38%, and the Dow Jones fell 1.12%. Deep into the green on Friday was popular chipmaker Intel, with its shares climbing 9.29% by the bell after strong profit margins and guidance boosted investor sentiment. Another company to post a strong earnings report was Dexcom, with its stock finishing 10.11% in the green after the diabetes-technology-manufacturing company posted stronger-than-expected third-quarter earnings.
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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.