Market roundup for Oct. 27
The U.S. and european stock markets closed mixed Tuesday, falling for the second day in a row. Two issues are dominating investor sentiment. First, the worsening pandemic has leaders concerned; during the last 30 days, the rise in coronavirus infections has reached the following percentages:
- France 119%
- United Kingdom 110.9%
- Italy 77.25%
- Spain 53.29%
- United States 23.76%
The other issue concerns the U.S. healthcare sector, after Eli Lilly decreased its forecast for 2020, and its third-quarter results missed estimates. Revenue came in at $5.74 billion, compared with $5.48 billion a year ago, while analysts expected $5.87 billion.
Meanwhile, Microsoft (MSFT) reported fiscal Q1 revenue of $37.2 billion, up year-over-year from $33.1 million. Its stock closed at $214.73, up $4.65.
Another critical economic benchmark, U.S. Durable Goods New Orders, rose 1.85%, compared to 0.4% last month and minus-1.49% the previous year.
Wall Street Recap for Oct. 27
- The Dow Jones Industrial Average closed at 27,463.19, down 222.19 points, or 0.8%.
- The Standard & Poor’s 500 closed at 3,390.68, down 10.29 points, or 0.30%
- The Nasdaq Composite Index closed at 11,431.35, up 72.41 points, or 0.64%.
- The Birling Puerto Rico Stock Index closed at 1,664.76, up 31.03 points, or 1.83%
- The U.S. Treasury 10-year note closed at 0.79%.
- The U.S. Treasury 2-year note closed at 0.16%.