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Benchmark US indices closed mixed on Wednesday, October 27, as investors delved into companies' quarterly earnings and sought to catch up with their latest developments.
The S&P 500 was down 0.51% to 4,551.68. The Dow Jones fell 0.74% to 35,490.69. The NASDAQ Composite stayed flat at 15,235.84, and the small-cap Russell 2000 was down 1.90% to 2,252.49.
On Wednesday, the Commerce Department said orders for durable goods like appliances and automobiles fell for the first time in September since last spring.
New orders declined by 0.4% to US$261.3 billion in the month from August, after four consecutive months of gains. The data renewed concerns over supply woes and rising commodity prices.
Communication, technology, and consumer discretionary stocks were the top gainers on S&P 500 on Wednesday. Energy and financial stocks were the bottom movers. Eight of the 11 stock segments of the index stayed in the negative territory. Around 82% of the 192 companies that reported quarterly earnings beat Wall Street expectations, the EODHD/Others data showed.
What made Global Stocks give up three- day gains?
Shares of McDonald's Corporation (MCD) rose 2.60% in intraday trading after its third-quarter net income rose to US$2.14 billion from US$1.76 billion a year ago.
The Coca-Cola Company (KO) stock gained 2.30% after it raised its fiscal 2021 outlook. Its revenue jumped 16% YoY to US$10.0 billion in Q3.
Thermo Fisher Scientific Inc. (TMO) stock was up 0.93% after reporting quarterly earnings. It also raised its fiscal full-year revenue guidance by US$1.2 billion to US$37.1 billion.
In the consumer discretionary sector, Home Depot, Inc. (HD) gained 1.11%, Marriott International (MAR) rose 2.54%, and Chipotle Mexican Grill, Inc. (CMG) rose 1.39%. Las Vegas Sands Corp. (LVS) and Domino's Pizza Inc. (DPZ) advanced 3.74% and 3.34%, respectively.
In energy stocks, Exxon Mobil Corporation (XOM) declined 2.54%, Chevron Corporation (CVX) fell 1.80%, and ConocoPhillips (COP) declined 3.46%. EOG Resources, Inc. (EOG) and Schlumberger NV (SLB) fell 2.13% and 4.85%, respectively.
In the financial sector, JPMorgan Chase & Co. (JPM) fell 2.01%, Bank of America Corporation (BAC) fell 1.69%, and Morgan Stanley (MS) was down 1.58%. Charles Schwab Corporation (SCHW) and BlackRock, Inc. (BLK) fell 2.11% and 1.01%, respectively.
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Futures & Commodities
Gold futures were up 0.27% to US$1,798.25 per ounce. Silver increased by 0.19% to US$24.133 per ounce, while copper fell 2.20% to US$4.3872.
Brent oil futures declined 2.67% to US$83.36 per barrel and WTI crude was down 3.10% to US$82.03.
Bond Market
The 30-year Treasury bond yields was down 4.29% to 1.963, while the 10-year bond yields fell 4.09% to 1.552.
US Dollar Futures Index decreased by 0.08% to US$93.862.
