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Home / Business / Stock Market News: October 18, 2019

Stock Market News: October 18, 2019



U.S. stocks fell on Friday as investors assessed mixed company's earnings and new reports of sluggish growth in the Chinese economy.

Tax capital rates fell over the curve amid speeches by three Federal Reserve officials Friday in their final public remarks before officials enter a quiet period before the central bank's meeting on May 29-30. October. During a speech in Boston, Fed Deputy Richard Clarida reiterated that monetary policy is not "at a pre-set rate" and that officials will consider the economic outlook when making their interest rate decisions. He characterized the US economy Friday as being "in a good place."

Here were the main features during the session, starting at 2:03 p.m. ET:

  • S&P 500 (^ GSPC): -0.47%, or 13.95 points

  • Dow (^ DJI): -0.69%, or 186.91 points

  • Nasdaq (^ IXIC ): -1.02%, or 83.5 points

  • 10-year Treasury Rate (^ TNX): -1 bps to 1.745%

  • Crude Oil (CL = F): -0.8% to $ 53, 50 per barrel

  • Gold (GC = F): -0.24% to $ 1,494.70 per ounce

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 cm) – sm "type =" text "content =" Shares of Boeing ( BA ), a Dow component, slid about 4% during afternoon trading following a & nbsp; Reuters report suggested that the aircraft manufacturer mislead the Federal Aviation Administration about its 737 Max security system, citing direct messages between employees from 2016 obtained by Reuters. "Data-reactid =" 25 "> Shares of Boeing (BA), a Dow- component, slipped about 4% during afternoon trading after a Reuters report suggested that the aircraft manufacturer misled the Federal Aviation Administration about 737 Max's Safety system. The report cited direct messages between employees from 2016 obtained by Reuters.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Dow dropped almost 200 points mid fall Boeing shares, enhanced by a slide in Johnson & Johnson shares ( JNJ ) after some baby powder bottles were found to contain small amounts of asbestos. "data-reactid =" 26 "> Dow fell nearly 200 points amid falling Boeing stock, boosted by a slide of Johnson & Johnson (JNJ) shares after some bottles of baby powder were found to contain small amounts of asbestos.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Meanwhile, another Dow component has Coca – Cola ( KO ) & nbsp; had stronger-than-expected sales for the fiscal third quarter, & nbsp; sending stocks higher even though comparable earnings per share fell below expectations. Organic revenue, which removes variables like currency effects, grew 5%, against analysts' expectation of 4.1%, according to consensus analysts Coca-Cola emphasized double-digit volume growth in Coca-Cola Zero Sugar as a key factor in driving results , reflects the company's recent shift to meet consumer demands & nbsp; for less sugary, health-conscious beverages. "data-reactid =" 27 "> Meanwhile, another Dow component Coca-Cola (KO) has sold stronger than expected sales for the fiscal third quarter figures, and sent shares higher even though comparable earnings per share fell below expectations. The beverage giant has closely monitored organic revenue, removing variables such as currency effects, grew 5%, against a 4.1% gain expected by analysts, according to consensus analysts. Coca-Cola emphasized double-digit volume growth in Coca-Cola Zero Sugar as a key factor in helping results, reflecting the company's recent shift to meeting consumer demands for less sugary, health-conscious drinks.

Coca-Cola updated its full-year guidance to see at least 5% organic revenue growth for the entire fiscal year, leaving the door for growth beyond the straight 5% increase it had previously expected. The company reiterated guidelines for full-year earnings per share (EPS) to decline or rise by 1% over $ 2.08 in comparable EPS released last year.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "Overseas, other business revenue was mixed. Swedish carmaker Volvo ( VOLV-B.ST ) reported a 45% reduction in heavy truck orders in the third quarter, saying that they expect these declines to extend to next year. " = "29"> Overseas, other company revenue was mixed. Swedish carmaker Volvo (VOLV-B.ST) reported a 45% drop in orders for heavy trucks in the third quarter and said it expects these drops to reach next year.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "“ Over the last couple of years, Customers in Europe and North America renewed and expanded their truck parks, but with the volume of goods having leveled off and the current uncertainty about future economic developments, they are now holding back on investment, "& nbsp; Volvo said in the results report. "data-reactid =" 30 ">" Over the last couple of years, customers in Europe and North America have renewed and expanded their truck parks, but with the volume of goods has leveled off and with current uncertainty about the future economic they are now holding back on investment, "Volvo said in its earnings report.

Despite suggestions for weakening demand for the cars, Volvo's shares reversed initial losses and increased on the Stockholm Stock Exchange as investors assessed the company's stronger-than-expected adjusted operating profit and margin for the quarter, and Managing Director Martin Lundstedt's later comment on a roadmap for tepid demand.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "French auto group Renault also emphasized a decline in the global automotive industry with a & nbsp; gloomy earnings advance announcement, that sent its shares lower by more than 12% on Euronext Paris. "data-reactid =" 43 "> French auto group Renault also emphasized a decline in the global automotive industry with a dismal earnings advance announcement, sending the shares lower by more than 12% in Euronext Paris.

Renault revised down expected group revenues to see a decline of 3-4% for the year, compared to previous guidance for small change compared to 2018. It also reduced operating margin guidance to 5%, compared to the 6% seen previously. The car maker cited "an economic environment that was less favorable than expected and in a regulatory context that requires ever-increasing costs."

<h2 class = "canvas atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " China's growth drops to near 30 -year low "data-reactid =" 45 "> China's growth drops to a near 30-year low

Growth in the world's second-largest economy was even more anemic than expected in the third quarter, as trade tensions and a continued decline in investment outweighed Beijing's recent stimulus measures.

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = " China's & nbsp; gross domestic product grew & nbsp; only 6% in the three months ended in September, the slowest pace since 1992. This was lower than the consensus expectation of 6.1% growth. " reactid = "51"> China's gross domestic product grew only 6% in the three months ended in September, the slowest pace since 1992. This was lower than the consensus growth expectations of 6.1%.

However, other areas of the Chinese economy showed signs of picking up in September. Industrial production grew 5.8% in September compared to last year, better than the 4.9% consensus. And retail sales rose 8.2% for the year to September in the country, topping expectations by 10 basis points.

<p class = "canvas atomic canvas text Mb (1.0em) Mb (0) – -sm Mt (0.8 em) – sm" type = "text" content = "In the US, meanwhile fell , & nbsp; Conference Board & # 39; s Leading Index, a measure of the health of the domestic economy for a second consecutive month in September, which fell 0.1% to a downward 0.2 % decline in August, which was below consensus expectations for a flat reading for the month, according to Bloomberg data. "data-reactid =" 53 "> In the US, the Conference Board & # 39; s Leading Index, a measure of health in the domestic economy, fell , for the second consecutive month in September. This index fell 0.1% following a downward 0.2% decline in August. This was below consensus expectations for a flat reading for the month, according to Bloomberg data.

"The US LEI [Leading Economic Index] went down in September due to industry weaknesses and interest rates spreading only partially offset by rising stock prices and a positive contribution from the leading credit index," said Ataman Ozyildirim, senior director of economic research at conference board, in a statement. "LEI reflects uncertainty in the outlook and falling business expectations, caused by the decline in the industrial sector and trade disputes."

"LEI is looking ahead, and is in line with an economy that is still growing, albeit slower, through the end of the year and into 2020," added Ozyildirim.

<p class = "canvas -at canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – -sm "type =" text "content =" Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck "data-reactid =" 57 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

< p class = "canvas atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read more from Emily: " data -reactid = "58"> Read more from Emily:

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Follow Yahoo Finance on Twitter Facebook [19659026] Instagram Flipboard LinkedIn and reddit . "data-reactid =" 65 "> Follow Yahoo Finance on Twitter Facebook Instagram Flipboard LinkedIn and [19659042] reddit


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