Stocks open in the red after mixed earnings
At 9:33 a.m. ET, the Dow is down 104 points (-0.58%), the S&P 500 is down 10 points (-0.5%) and the Nasdaq is down 10 points (-0.2%).
The two big earnings reports came from McDonald's and General Electric. McDonald's reported stronger-than-expected sales growth after it revamped its all-day breakfast menu and kept customers interested in the offering. However, General Electric cut its revenue forecast, citing slow growth in the oil and gas business.
McDonald's shares gained 4%, while General Electric fell 2%.
Other major movers included Twilio, shares of which fell 7% after the company priced its follow-on offering below Thursday's closing price. Advanced Micro Devices fell 4% after the semiconductor company forecast a sales decline for the fourth quarter.
The economic-data calendar is light, with Markit's preliminary US manufacturing report for October due at 9:45 a.m. ET. It's expiry Friday for some stock-options traders.
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore