Stocks closed on a sour note as traders anticipate earnings reports from Chevron and Exxon Mobil, with both CEOs scheduled to appear on CNBC. General Motors saw a 13% rise in the last month, while Ford and Stellantis faced declines. Apple reported strong iPhone sales but saw a slight drop in stock after hours, despite a 22.7% year-to-date increase. Financials outperformed in October, while health care and consumer durables struggled.
Stocks experienced a decline on Wednesday, with notable movements expected in the upcoming trading session. Apple reported a 5% increase over three months but fell nearly 4% in after-hours trading, while Microsoft and other tech stocks showed mixed performance. Ingersoll Rand and W.W. Grainger are set to report earnings, with Grainger being a standout performer in its sector.
Stocks continued to decline, with the Dow and S&P 500 marking a third consecutive losing day. American Airlines and Southwest Airlines are set to report earnings, with American up 22% and Southwest up 13% over the past three months. In the utilities sector, Entergy and Consolidated Edison reached all-time highs, while Honeywell is next to report in a week filled with industrial earnings. Microsoft and Nvidia are also in focus, with both companies showing significant gains this year.
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