U.S. stocks were minimally volatile on Tuesday, with General Motors surging 10.4% on strong results, offsetting a sharp decline in GE Aerospace shares.
S&P 500: 5,851.20 ⬇️ down 0.0047% Nasdaq Composite: 18,573.13 ⬆️ up 0.18% Dow Jones Industrial Average: 42,924.89 ⬇️ down 0.016% STOXX Europe 600: 520.40 ⬇️ down 0.21% CSI 30 0: 3,957.78 ⬆️ 0.57% increase Nikkei average: 38,411.96 ⬇️ 1.39% down Bitcoin: $67,466.16 ⬆️ 0.15% up
US: Stocks fall amid rising yields and profit expectations
Tuesday’s trading session was quiet, with the S&P 500 down less than 0.1%, following a slight decline on Monday that ended a six-week winning streak. The Dow Jones Industrial Average fell 0.016%, while the Nasdaq Composite rose 0.18%, led by tech stocks. General Motors had its best day since 2020, rising nearly 10% after reporting better-than-expected profits and sales. However, despite strong profits, GE Aerospace fell 9% after reporting lower-than-expected revenue, weighing on the market.
Europe: Slight decline despite SAP revenue beat
European markets fell on Tuesday, with the Stoxx Europe 600 index down 0.21% as concerns about US bond yields weighed on investor sentiment. SAP was a bright spot, with shares soaring 5% after the German software giant beat profit estimates. However, the overall market remains under pressure as other sectors, particularly healthcare and utilities, continue to lag.
China: Slight increase as a sense of caution spreads throughout the market
The Chinese market showed resilience, with the CSI 300 rising 0.57%, led by gains in real estate stocks. Despite global market uncertainty, Chinese indexes rose as traders awaited upcoming corporate earnings reports. Meanwhile, Hong Kong’s Hang Seng rose 0.1% as investors remained cautiously optimistic about further economic support from the government.
Japan: Stock prices fall ahead of national and US elections
The Nikkei Stock Average fell 1.39% as opinion polls showed that the ruling party may lose its majority in the October 27 general election. Sharp declines in financial and tech stocks led the decline, with Uniqlo owner Fast Retailing also taking a big hit, down 3.18%. Investors also worried that President Trump’s rise in U.S. polls could usher in further inflation.
And the financial year-end season continues…
This week was a big earnings week, with 112 companies in the S&P 500 reporting their earnings. Tesla, Coca-Cola, IBM and Boeing reported on Wednesday.
