Market Wrap for Monday, October 21: Dow Closes Down, S&P and Nasdaq Close Up
Toward the end of trading Monday, the Dow closed down 0.05 percent to 15,392.01 while the NASDAQ surged 0.15 percent to 3,920.05. The S&P closed up, rising 0.01 percent to 1,744.65.
McDonald's (NYSE: MCD) reported a 4.6 percent rise in its third-quarter profit. McDonald's quarterly profit surged to $1.52 billion, or $1.52 per share, from $1.46 billion, or $1.43 per share, in the year-ago period. Its revenue climbed 2.4% to $7.32 billion.
However, analysts were expecting earnings of $1.51 per share on revenue of $7.34 billion. Its same-store sales in the US increased 0.7%.
Shares of First Solar (NASDAQ: FSLR) also closed up, gaining 7.80 percent to $53.87 after Bank of America gave SolarCity, a peer play, a $70 price target this morning.
Equities Trading DOWN
Shares of Osiris Therapeutics (NASDAQ: OSIR) closed down 16.90 percent to $14.53 on 8-K announcing agreement with the FDA on regulatory pathway for Grafix and Ovation.
Gannett Co (NYSE: GCI) shares tumbled 2.40 percent to $26.83 after the company reported a fall in its Q3 profit.
In commodity news, oil closed down 1.74 percent to $99.06, while gold traded up 0.16 percent to $1,316.50. Silver traded up 1.44 percent Monday to $22.18, while copper rose 0.11 percent to $3.30.
European shares were mixed today. The Spanish Ibex Index rose 0.36 percent, while Italy's FTSE MIB Index dropped 0.04 percent. Meanwhile, the German DAX rose 0.02 percent and the French CAC 40 declined 0.21 percent while U.K. shares climbed 0.48 percent.
US existing home sales declined 1.9 percent to an annual rate of 5.29 million in September, versus 5.39 million in August. However, economists were expecting sales to fall to a rate of 5.30 million last month.
Crude stockpiles climbed four million barrels for the week ended October 11, the US Energy Information Administration.
However, analysts were expecting a rise of 2.25 million barrels. The Treasury was set to auction 3-and 6-month bills.
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