AllMarket Update
logoArgusOctober 21, 2020

Market Update: CP, KEY, PG, PPG, TXN

Sector(s)
Financial Services, Basic Materials, Technology, Industrials, Consumer Defensive
Summary

Stocks gave up early gains on Wednesday morning amid mixed earnings reports, as investors awaited new developments in the fiscal stimulus talks. Verizon posted better-than-expected adjusted 3Q earnings and raised its full-year guidance, but missed the consensus revenue estimate. Abbott Labs, which received approval for its rapid COVID-19 test in August, reported stronger-than-expected 3Q revenue and earnings and boosted its full-year guidance. The Dow fell 0.3%, the S&P 0.2%, and the Nasdaq 0.2%. Crude oil traded near $40 per barrel, while gold rose $18 to $1933 per ounce.

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