US Market Wrap 22 Oct 2018

Posted by Billy Macris on 22-Oct-2018 14:31:50

US stocks finished mixed on Friday with the Dow rising after a positive earnings release from Procter & Gamble whilst the S&P 500 and Nasdaq finished in negative territory. The Dow rose +0.26%, the S&P 500 fell -0.04% and the Nasdaq fell -0.48%.

Starting with the Dow stocks, Procter & Gamble share rose 8.8 percent after a successful earnings beat and American Express rose 3.8. On the flipside, Caterpillar shares fell 2.7 percent followed by Intel shares down 2.2 percent. PayPal shares rose 3.8% and Skechers rose 9.4% after reporting earnings that topped analyst expectations. Advanced Micro Devices fell 11.1 percent due to weaker performing semi-conductor sector as peers Nvidia fell 4.33 percent. AMD is set to report earnings after market close on Wednesday.

The Consumer Staples sector was the best performing sector rising 2.31 percent followed by the Utilities sector rising 1.58 percent as investors looked to get into the more defensive stocks. Shares of American Electric Power rose 2.20 percent. The Healthcare sector was the worst performer falling 0.95 percent as shares of Bristol Myers Squibb fell 3 percent.

Chart of the Day: Procter & Gamble (PG) daily chart



Topics: +U.S. Market Wrap