Stocks trade mixed at market open as third-quarter earnings pour in

Tuesday, 22 October 2019 20:57 WIB

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U.S. stocks mostly edged higher at the start of trade Tuesday as investors parsed a bevy of third-quarter earnings reports and continued to monitor developments in U.S.-China trade negotiations.

The Dow Jones Industrial Average fell about 5 points, or less than 0.1% to 26,824, the S&P 500 index added roughly 3 points, or 0.1% to 3,009 and the Nasdaq Composite index advanced 22 points, or 0.3% to about 8,186.

The Dow's advance was held back by declines in McDonald's Corp. shares after the fast-food retailer reported profits that fell more than analysts expected and Travelers Cos. Inc.'s stock which declined 7.5% on third-quarter earnings that also fell more than analysts hoped.

The blue-chip index was supported, however, by advances in United Technologies Corp. shares which beat estimates for earnings and revenue and Proctor & Gamble Co. shares which rose about 4% after issuing third-quarter results. On the trade front, U.S. Trade Rep. Robert Lighthizer said that the Trump administration aims to wrap up "phase one" trade talks with China by the middle of next month.

Source : MarketWatch


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