Stocks turned in a mixed day as the
(INDEXSP:.INX) finished in positive territory, but the action below
the surface was a bit ugly.
(INDEXRUSSELL:RUT), which is considered more economically
sensitive, sold off, underperforming by 0.7%, while the tech-heavy
(INDEXNASDAQ:.IXIC) slumped as
Additionally, crude oil broke below the $95 mark, dragging down
We saw a piece of positive economic data as the September ISM Index
came in at 56.4, beating the 55.0 consensus and slightly exceeding
last month's figure of 56.2.
However, we also saw October auto sales from the major carmakers
today, which were generally below expectations.
) managed to beat expectations, but
all disappointed. However, the government shutdown may have had a
negative impact on their results, so it's too early to declare the
month a disaster.
In earnings news,
(FSLR) was a notable winner, rising 18% after reporting much better
than expected earnings after the close Thursday. And on the
negative side, energy giant
(CVX) missed on both the top and bottom lines, though part of its
sell-off can be explained by the aforementioned slump in oil
Tomorrow's Financial Outlook
Earnings season will continue winding down next week, but we have
some big names on the calendar.
(K) will report before the open, with
(CF) delivering numbers after the close.
On the economic front, the ISM-New York Report will be reported at
9:45 a.m. EDT. And at 10:00 a.m., August and September Factory
Orders will be released. Consensus stands at 0.3% and 1.8%,