“Looking Ahead” – Vista Partners Daily Market Recap 10/22/2018
As trading closed Monday afternoon, U.S. stocks were mixed. The S&P 500 dropped 0.43% (11.89 points). Out of the previous thirteen trading days, this marks the eleventh time it has closed down. The Dow also fell 0.5% (126.86 points). On the other hand, the Nasdaq posted gains of 0.26% (19.6 points).
Results from individual components of the Dow were quite varied today. Intel (INTC) did well, rising 2.30%, and Cisco (CSCO) rose 0.93%. On the other end of the spectrum, Dow Dupont (DWDP) faced declines of 2.47%. After last weeks gains, breast cancer treatment innovator, Atossa Genetics (ATOS), dropped 0.67% to start out the new week.
All eyes are on a slew of third-quarter earnings reports that are set to come out this week as a third of the component companies of the S&P 500 are scheduled to release reports. Big names like Amazon, Microsoft, and Intel are in this mix. Most remain hopeful about the Q3 reports but the outlook presented may be varied. Savita Subramanian, a Bank of America strategist, noted: “Commentary on earnings calls has been mixed, but generally positive…mentions of optimism are tracking above average.” Will the forthcoming reports prove investors’ optimism true?
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