Market Fell Across Nearly All Sectors, Tesla Climbs Post-Market | Wall Street Today
Wednesday, the market fell with mixed morning earnings calls from firms like $Coca-Cola (KO.US)$ and $AT&T (T.US)$. Tesla's report after the close showed earnings and a gross margin that beat estimates, making up for a miss in revenue.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ traded down 0.92%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.96%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 1.60%.
MACRO
The Federal Reserve Open Market Committee's Beige Book economic report said there was very little change in economic activity in September. Two districts reported growth, and most districts reported a decline in manufacturing.
The report said that banks were worried about the future because of a decline in interest rates. Some districts said consumer spending moved to cheaper choices. The housing market stayed healthy, commercial real estate was flat, and infrastructure projects helped a few districts. According to the report, the dock worker's strike caused a short disruption, while hurricanes brought crop damage and tourism pauses in the Southeast.
Employment rose overall, the report said, with half the districts showing growth. Many reported lower turnover, and low layoffs, though demand for workers eased. Wages rose.
Price inflation continued in most districts. Some prices, like eggs and dairy, grew faster. Home prices climbed, and insurance and healthcare costs rose. Multiple Districts reported that input prices generally rose faster than selling prices, compressing firms’ profit margins.
Existing home Sales for September came out near estimates Wednesday, at 3.84M, below 3.88M. Crude oil inventories from the week before climbed: U.S. firms added 5.47M barrels of oil compared to estimates of just 800k.
SECTORS
Within industries tracked by moomoo, most were in the red. Beverage firms fell after a report from $Coca-Cola (KO.US)$, that showed a 1% Q3 dip in unit case volume and declines in sales of juice, water, sports drinks, which sent similar firms like energy drink brand $Celsius Holdings (CELH.US)$ falling nearly 3%.
$Crude Oil Futures(JAN5) (CLmain.US)$ climbed over $70 a barrel overnight but fell a bit Wednesday morning.
$Bitcoin (BTC.CC)$ again fell below $66k. Gold and silver fell back from recent all-time highs, the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
MOOVERS
Tesla reported a Q3 adjusted earnings of $0.72/share, vs estimates of $0.59/share, on revenue of $25.18B vs estimates of $25.52B.
$Enphase Energy (ENPH.US)$ fell 15% after reporting earnings Tuesday night of $0.65 per share, missing estimates of $0.78 per share, and revenues of $380.87 million for the quarter, missing estimates by 2.59%.
$Starbucks (SBUX.US)$ options volume jumped Wednesday after the company's preliminary fiscal fourth quarter results disappointed Wall Street, highlighting the challenges that new CEO Brian Niccol faces as he attempts a turnaround for the coffee chain. The stock fell the day before.
$Northern Trust (NTRS.US)$ climbed 6% after the financial holding company and asset manager posted a beat in Q3 earnings.
$Boeing (BA.US)$ fell 3% intraday after the firm's earnings came up with a $6B loss.
$McDonald's (MCD.US)$ fell 5% after the CDC announced an E. Coli outbreak Tuesday night from the firm's food that killed one person and hospitalized ten.
Interested in Options? To see these stocks and more on the options page, click here. Want to learn more about options, check out moomoo education with this link. Click here to join our exclusive options chat with personal callouts from our resident expert, Invest with Sarge.
Word from the herd: Mooers, what are you watching?
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
6357Followers
620Following
17KVisitors
Follow
EZ_money : whaaaaaaa?
章允量 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
104556909 : good
Adrianlim90 : 1
JREOPM : fuck Tessless
CasualInvestor : Thank you
Kevin for the Marco takeaways. Always appreciate your insights ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")