STOCKS SLIP FROM RECORD HIGHS: Here's what you need to know
The S&P 500 fell 0.2%. Meanwhile, the Dow slid 0.2% and the more tech-heavy Nasdaq decreased 0.1%.
First up, the scoreboard:
- Dow: 22,826.96, -45.93, (-0.20%)
- S&P 500: 2,549.30, -6.30, (-0.25%)
- Nasdaq: 6,587.92, -14.64, (-0.23%)
- US 10-year yield: 2.32%, -0.02
- WTI crude oil: $50.65, -0.65, -1.27%
2. Bank of America says 'this is not your parents' tech bubble.' The firm argues that market conditions are much more stable this time around, and that the influence of the sector is smaller.
3. JPMorgan beats, shrugs off tough trading quarter . The firm posted earnings of $1.76 a share, above the $1.65 consensus, with the consumer and community banking and corporate and investment banking units topping forecasts.
4. Citigroup beats on earnings results as its bread-and-butter business shines . The firm reported third-quarter earnings of $1.42 per share, a nearly 8% beat.
5. More and more stocks are doing the market's heavy lifting . Morgan Stanley finds that the earnings and sales growth contribution of the market's biggest companies has been falling since 2010.
ADDITIONALLY:Fed president James Bullard tells us why he disagrees with his colleagues about the need for more rate hikes A hedge fund started by a pioneering female investor has lost more than half its assets in two years