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Nasdaq Hits Record High While Wed Earnings Are Mixed | Wall Street Today

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Kevin Travers wrote a column · Oct 29 16:25
Nasdaq Hits Record High While Wed Earnings Are Mixed | Wall Street Today
The market was mixed, as a majority of equities fell overall, and the Dow sank, but the Nasdaq hit an all-time trading and closing high.
Just past 5pm ET the $S&P 500 Index (.SPX.US)$ traded 0.15%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.36%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.78%.
MACRO
In macro Tuesday, CB Consumer Confidence numbers came in much higher- 108.7 vs. 99.5 expected. JOLTS Job Openings came in under estimates, in the lead-up to major Nonfarm Payroll data coming out Friday.
SECTORS
Within industries tracked by moomoo, movement was normal save for election-based tickers. $Trump Media & Technology (DJT.US)$ is facing high volatility, following the media attention generated by its chief and majority shareholder as he runs for a comeback presidential election. It hit +14% before running into a volatility trade pause, before falling to -3%. The equity finished up +8%.
Nasdaq Hits Record High While Wed Earnings Are Mixed | Wall Street Today
$Crude Oil Futures(JAN5) (CLmain.US)$ climbed to $67/barrel after falling nearly 6% Monday. $Bitcoin (BTC.CC)$ climbed to $72k, approaching all time high prices set above $73k. Gold climbed to a record again. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ both fell.
MOOVERS
$D.R. Horton (DHI.US)$ shares dropped 12% after reporting earnings and revenue Tuesday that came in below estimates. Earnings were $3.92/share compared to estimates of $4.17 on revenue of $10B compared to estimates of $10.22B. The single-family home builder was the lowest decliner on the S&P 500, followed by $Stanley Black & Decker (SWK.US)$, that fell 10% after it reported a third-quarter sales decline of 5.2% from last year.
$SoFi Technologies (SOFI.US)$ shares fell 7% Tuesday despite earnings that were described by Chief Anthony Noto as "the best ever." EPS was just 5C /share, but Q3 revenue rose 30% from last year, and the company raised its guidance.
$PayPal (PYPL.US)$ fell about 4% after its Q3 revenue grew less than expected, but the firm raised its forward guidance and beat adjusted earnings estimates. The firm posted revenue up to $7.85B but below the $7.89B estimate.
$Ford Motor (F.US)$ shares dropped 8% Tuesday after the company released its third-quarter financial results post-market on Monday, beating revenue estimates but showing its Model E electric vehicle and Ford Pro services segments underperformed. Ford projects that Model E will lose $5B in the year.
The news was not all bad- the top of the S&P 500 Tuesday saw $Cadence Design Systems (CDNS.US)$ and $F5 Inc (FFIV.US)$ climbing of more than 10% after their Monday night earnings impressed.
$Alphabet-A (GOOGL.US)$ reported Q3 earnings of $2.12/share Tuesday after the bell, vs estimates of $1.84/share, on revenue of $88.27B vs estimates of 86.45B. According to the report, every segment of the search giant beat estimates. Google advertising revenue climbed to $65.85B, compared to estimates of $65.50.
$Advanced Micro Devices (AMD.US)$ shares tumbled more than 5% after market, when the chipmaker's fourth quarter revenue outlook missed analysts' estimates. Revenue for the fourth quarter ending in December is expected to reach about $7.5 billion, plus or minus $300 million. That midpoint is lower than the $7.55 billion expected by analysts, according to estimates by Bloomberg.
$Visa (V.US)$ reported fiscal Q4 non-GAAP earnings after the bell Tuesday with earnings per share and revenue exceeding analysts' estimates. Q4 earnings per share was $2.71 per diluted share, up from $2.33 a year earlier. Analysts polled by Capital IQ expected $2.58.
$Snap Inc (SNAP.US)$ reported quarterly earnings of $0.08 per share which beat the analyst consensus estimate of $0.05 by 60 percent.
Who will win the Presidential Election, and how will it affect the market?
Nasdaq Hits Record High While Wed Earnings Are Mixed | Wall Street Today
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
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