AllMarket Update
logoArgusOctober 22, 2020

Market Update: DFS, ERIC, FE, FITB, ISRG, LOW, ES, ES, BKR

Utilities, Financial Services, Energy, Technology, Healthcare, Consumer Cyclical

Stocks fluctuated on Thursday morning amid mixed earnings reports, new weekly employment data, and diminishing prospects for a pre-election stimulus deal. Tesla shares rose after the company posted stronger-than-expected 3Q earnings and reiterated its full-year forecast of 500,000 vehicle deliveries. Coca-Cola shares also rose following above-consensus results, reflecting strength in at-home sales. On the employment front, the Labor Department said that initial claims for state unemployment benefits fell to 787,000 for the week ended October 17, down from 842,000 a week earlier and below the Bloomberg consensus forecast of 870,000. The Dow rose 0.1%, the S&P rose 0.1%, and the Nasdaq fell 0.2%. Crude oil traded near $41 per barrel, while gold fell $29 to $1900 per ounce.

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