Stock Market Today, Oct. 13: Markets Edge Lower as Earnings Season Kicks Off
The S&P 500 (SNPINDEX:^GSPC) slipped 0.02% to 7,805, remaining near record levels as investors parsed the first major batch of corporate results. The Nasdaq Composite (NASDAQINDEX:^IXIC) fell 0.15% to 27,204, and the Dow Jones Industrial Average (DJINDICES:^DJI) lost 0.35% to 51,670.
Gold prices fell 0.21% to $4,181.80 as of U.S. market close, and the 10-Year Treasury yield rose 0.02% to 5.24% as energy led all sectors while industrials and healthcare trailed.
Johnson & Johnson shares plummeted approximately 6% after its MedTech division missed sales estimates. Micron Technology and Sandisk tumbled 3.62% and 0.34%, respectively, following news of a breakthrough in competitive DRAM architecture in China. Additionally, Blackstone fell 4.18% as rising yields and analyst price target cuts weighed on the alternative asset manager.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.