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Home / Business / The S&P 500 leads the record as the busiest season with the earnings season

The S&P 500 leads the record as the busiest season with the earnings season



Stocks threaten record highs Monday morning as the busiest week for the third quarter revenue season is underway.

The S&P 500 came within 0.59 points after matching its intraday record high on Friday, before finishing 3.31 points from a record high. The Dow Jones Industrial Average ended about 440 points off its own record high.

Early sentiment was helped by the EU agreeing to postpone Britain's exit from the bloc for three months, paving the way for a departure or before 31

January 2020. This is the third time Brexit has been delayed. The UK was originally to leave the E.U. March 29, 2019.

All three major averages opened high by about 0.3 percent.

Ticker Security Last Change Change%
In: DJI DOW JONES AVERAGES 26958.06 +152.53 + 0.57% [19659016] SP500 S&P 500 3022.55 +12.26 [1965901519601] 0.61%] I: COMP NASDAQ COMPOSITE INDEX 8243.119014 +57.32 + 0.70% [1965] The earnings season kicks into high gear this week, which will be the busiest in the 3Q season. Six of the thirty Dow Industrial companies and 147 companies in the S&P 500, or about 30 percent of the benchmark index, are eligible to report.

The Tiffany & Co. shares rose sharply after the LVMH power plant made a takeover bid of approx. $ 120 per share, or $ 14.5 billion, according to The Wall Street Journal.

STOCKER, BONDER, GOLD AND OIL ON TRACK FOR RECORD YEARS

Microsoft pointed to a higher open after winning a $ 10 billion Pentagon cloud computing contract. Amazon was lower after losing.

Meanwhile, Pacific Gas and Electric Company shares were under pressure as hurricane storms led the San Francisco-based utility to cut power to 2.4 million people. The early sales belt is set to push PG & E's market value below a record low of $ 2,646 billion, which was set on Friday.

Ticker Security Last Change Change%
TIF TIFFANY & CO 98.55 +0.88 + 0, 90%
MSFT MICROSOFT CORP. 140.73 +0.79 + 0.56%
AMAZON.COM INC. 1,761.33 -19.45 -1.09%
PCG PG&E CORP. 5.00 -2.20 -30.56%

On the income front, AT & T's quarterly revenue and revenue fell one year ago, but the shares were higher ahead of the opening clock when the company said that it received 101,000 wireless subscribers, up from 69,000 the year before.

Elsewhere, Walgreens Boot Alliance was higher after turning on both top and bottom lines.

Beyond Meat will be in focus as the results in the third quarter will be out after the closing clock. Apple, Facebook and Google will report later this week.

Ticker Security Last Change Change%
T AT&T INC. 36.91 + 0.09 + 0.24%
WBA WALGREENS BOOTS ALLIANCE INC. 55.42 +0.97 + 1.78%
BYND BEYOND MEAT INC. 100.81 19659049] -0.89 -0.88%

Nearly 40 percent of the companies in the S&P 500 have reported earnings, and so far the results are better than expected, with more than three-quarters as beating profit forecasts and nearly two-thirds topping revenue estimates.

In European trade, the most important averages were mixed with the UK's FTSE down 0.1 percent and Germany's DAX higher by 0.4 percent.

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Benchmarks in Shanghai, Tokyo and Hong Kong all rose with fear of US-Chinese trade tensions and Brexit withdrew.

CLICK HERE TO READ MORE ON FOX BUSINESS [1 9659003] Shanghai Composite Index ended the day with a gain of 0.9 percent, Tokyo's Nikkei closed up 0.3 percent to a 1-year high and Hong Kong's Hang Seng closed session up 0.8 percent.

Investors look to the Federal Reserve for another US interest rate cut this week. Investors expect the Fed to cut the reference rate by 0.25 percent following signs of US economic weakness.

Ken Martin and the Associated Press contributed to this article.


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