Friends
Earnings are the story, and in some cases it is somewhat of a Halloween horror story. There were a couple better than expected reports given lower expectations like P&G and Lockheed Martin, but more frequent were the disappointments of the likes of Under Armour, Whirlpool, Sherwin Williams, MMM, Caterpillar and others. Despite seemingly more bad ones than good, the market in general did not fare all that bad.
By the close, the Dow Jones Industrial Average was down 53 points to finish the day at 18,169. The S&P 500 was down 8 points to close at 2143. Gold was up $11 to trade at $1,275 per ounce, while oil was down $.65 to trade at $49.87 per barrel WTI. Nat Gas was down $.056 to trade at $2.77 per MMBtu on the NYMEX.
We get Apple’s earnings release after the close this afternoon, and a plethora of large cap names over the next few days. It appears to be a market place full of land mines, but the overall numbers seem still to be on a pace that will show decent improvement. A mixed story indeed. We’ll keep on monitoring this very volatile earnings season for you. Stay tuned.
Have a nice evening everyone.
