*Very Good Morning!!!*
*US Markets in Detail....*
*SGX Nifty: 18,201 (-12) (-0.06%)*
*Last Heard: NYKAA: 615-625 (IPO px 1125); PB 175-180 (Ipo Px 980)*
*Today's Major Corporate Results:*
AAVAS, ADANIGREEN, ATGL, AUBANK, BAJAJFINSV, BLUESTARCO, CARTRADE, CCL, CHEMCON, DCAL, DLF, EDELWEISS, ESABINDIA, GHCL, GMM, GNFC, GSFC, GUJGAS, INDIANB, INDIGO, IONEXCHANG, JCHAC, JKTYRE, JMFINANCIL, JSLHISAR, JSWHL, KTKBANK, LAURUSLABS, M&MFIN, MARICO, MMTC, MOTILALOFS, NTPC, PAUSHAKLTD, PREMEXPLQ, RBLBANK, RELINFRA, RENUKA, SAINTGOBAIN, SBICARD, SCHAEFFLER, SUDARSCHEM, TATAPOWER, TCI, UCOBANK, UTIAMC, VALIANTORG, VGUARD, WELCORP, WELENT, ZYDUSWELL, etc
Sensex: 61,143 (-207) (-0.34%)
Nifty: 18,211 (-57) (-0.31%)
Dow: 35,491 (-266) (-0.74%)
S&P: 4,552 (-23) (-0.51%)
Nas: 15,236: flat
Brazil: 106,363 (-56) (-0.05%)
Ftse: 7,253 (-24) (-0.33%)
Dax: 15,706 (-51) (-0.33%)
Cac: 6,754 (-13) (-0.19%)
WTI Oil: $82.66 (-2.35%)
Brnt: $84.25 (-2.49%)
Gold: $1,799: +5: +0.30%
Silver: $24.19: +0.43%
Copper: $439 (-10) (-2.15%)
Zinc:3,425 (-35) (-1%)
Alluminum: 2,829 (-47) (-1.62%)
Eur-$: 1.1603
GBP-$: 1.3742
Jpy-$: 113.82
Re: 75.0262: +0.09%
US10yr: 1.54%
GIND10YR: 6.336 (-0.41%)
$ Index: 93.86 (-0.09%)
Vix: 16.98: +6.26%
BalticDry: 4,056 (-201) (-4.72%)
*ADR/GDR*
Cogni (-1.32%)
Infy (-0.62%)
Wit (-0.22%)
IciciBk: +0.09%
HdfcBk (-0.78%)
DrRdy (-0.47%)
TataMo (-2.44%)
Vedanta (-5.93%)
TatSt (-0.27%)
Axis (-5.86%)
SBI: +1.45%
RIGD (-0.84%)
INDA (-0.44%) (IShares MSCI INDIA ETF)
INDY (-0.81%) (IShares MSCI INDIA 50 ETF)
EPI (-0.57%) (Wisdom Tree India Earning)
PIN (-0.42%) (Invesco India Etf)
*Dow snaps 3-session win streak as stock indexes slip from records while bond yields slide. Cyclicals drag S&P 500 lower; Microsoft, Alphabet keep Nasdaq flat. The Russell 2000 slumped 1.9%, the biggest decline since late September. Treasuries gained on an uptick in growth concerns.*
The Dow Jones Industrial Average and S&P 500 index finished lower Wednesday, while the Nasdaq ended flat, as investors absorbed a huge batch of earnings from technology heavyweights. Drop in oil prices and a pullback in Treasury yields weighed on cyclical sectors and pulled the S&P 500 lower.
*Microsoft Corp reporting quarterly earnings that shot over $20 billion for the first time, late Tuesday. Shares rose 4.2% to a record close of $323.17. Google parent Alphabet Inc. GOOGL reported earnings that topped estimates amid resilient advertising sales. Its shares rose 5%.*
*The gains in the two stocks accounted for nearly 90 points to the upside in the tech-heavy Nasdaq while Microsoft was the biggest boost to the Dow Industrials, S&P 500 and Nasdaq.*
*A pullback in longer-term U.S. Treasury bond yields and a flattening of the yield curve also helped support growth names such as those in consumer discretionary and communications services, which were the only advancing S&P sectors on the day.*
*The benchmark 10-year U.S. Treasury yield declined for a fourth straight day, dropping more than 6 basis points to put it on track for its biggest one-day decline since Aug. 13.*
On Tuesday, the Dow and S&P 500 both finished at records, while the Nasdaq Composite finished less than 1% below its record close from Sept. 7.
Stocks tumbled into the closing bell Wednesday, with only two days of trade left in October, after earlier notching a string of record closes in a robust week for third-quarter earnings.
While earnings have been “particularly strong,” posting a sixth straight quarter of double-digit beats, investor willingness to pay more for higher earnings has been a key to a rally that’s taken the S&P 500 up by more than 6% so far this month. While pointing to the rise in stock multiples from 20 times earnings to 21.1 as being “the real driver of the market’s advance.”
Earnings are one of the bigger factors with better than expected results out of a lot of sectors. Some of the fears of inflation or margin pressure are not yet being realized despite the problem being so well-known and probably discounted by the market a bit.
By: via @AlliesFin Serve Stock Market
