Tuesday Market Falls on Tough Earnings, With AMD and Alphabet Reporting Tonight | Live Stock

Kevin Travers wrote a column · Oct 29 10:06

Good morning, traders. Happy Tuesday, October 29th. The market is falling overall, but the indexes are trying to turn the direction around- a lot of earnings came in this morning on the negative side. Investors are awaiting for $Alphabet-C (GOOG.US)$ and $Advanced Micro Devices (AMD.US)$ earnings after the bell today.

My name is Kevin Travers; here is the news about animal spirits moving markets.

$D.R. Horton (DHI.US)$ 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.

Within industries tracked by moomoo, movement was normal save for election-based tickers. $Trump Media & Technology (DJT.US)$ is facing high volatility, of the media attention generated by its chief and majority shareholder as he runs for a comeback presidential election.

Tuesday Market Falls on Tough Earnings, With AMD and Alphabet Reporting Tonight | Live Stock

$Crude Oil Futures(JAN5) (CLmain.US)$ climbed from two-week lows again.

$Bitcoin (BTC.CC)$ climbed to $71k, Gold $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.

Just past 11:01 am ET the $S&P 500 Index (.SPX.US)$ traded 0.15%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.02%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.33%.

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.

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Yesterday, users said they were looking forward to Apple earnings the most, due after the market closes Thursday. Overall, users voted that the market would close higher after this week's crazy earnings.

Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

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