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Stocks open lower, but still head for a winning week on better-than-expected earnings


Friday, 18 October 2019 20:53 WIB

Standard & Poor's 500Saham AS


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Stocks opened lower on Friday as investors were set to wrap up the first week of the earnings season.

The Dow Jones Industrial Average traded 46 points lower, or 0.2%. The S&P 500 and Nasdaq Composite slid 0.1% each.

More than 70 S&P 500 companies have reported calendar third-quarter earnings this week. Of those companies, 81% have posted better-than-expected results, FactSet data shows.

Weak data from China weighed down the market on Friday.

Some of the companies posting stronger-than-forecast results this week include Bank of America, Netflix, J.P. Morgan Chase and Morgan Stanley. Coca-Cola continued that trend on Friday, rising more than 1%. Their results helped push the major indexes higher for the week.

Source: CNBC


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