Stock market today: Indexes trade mixed as investors await wave of earnings results
US stocks were mixed on Monday as investors await a wave of third-quarter earnings results this week.
More than 40 S&P 500 companies are set to report results this week, including Netflix, Morgan Stanley, and Goldman Sachs.
According to data from Fundstrat, 6% of S&P 500 companies have already reported their results. Of those companies, 74% beat profit estimates by a median of 6%, while 58% beat revenue estimates by a median of 2%.
It’s a relatively muted week on the economic data front, with investors likely to focus on the Thursday releases of September retail sales and initial jobless claims.
Both data points will give investors insights into the health of the consumer and job market, respectively.
There is also some Fedspeak this week, with Federal Reserve Governor Christopher Waller scheduled to speak at 3 p.m. today, followed by Fed Governor Adriana Kugler on Tuesday.
Here’s where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:
- S&P 500: 5,836.88, up 0.38%
- Dow Jones Industrial Average: 42,762.38, down 0.24% (-101.48 points)
- Nasdaq composite: 18,475.06, up 0.72%
Here’s what else is going on:
- It’s the first day for Nike’s new CEO, Elliott Hill, who started working at the company as an intern in 1988.
- Saudi Arabia could create a crisis for Russia’s economy by flooding the market with oil.
- The bull market in stocks is 2 years old. Here’s what tends to happen next.
In commodities, bonds, and crypto:
- West Texas Intermediate crude oil was down 1.93% to $74.10 a barrel. Brent crude, the international benchmark, was lower by 1.81% to $77.61 a barrel.
- Gold was down 0.41% to $2,665.20 an ounce.
- The 10-year Treasury yield was flat at 4.105%.
- Bitcoin was higher by 2.96% to $64,715.
