By Christiana Sciaudone
Investing.com — The and the S&P 500 slipped while Nasdaq rose thanks to tech, the usual suspect.
It’s all about Covid-19 infections growing in the U.S. and Europe, while stimulus talks are done until after the Nov. 3 election. Consumers are also failing to do their part, with the Conference Board saying the index of slipped to a reading of 100.9 this month from 101.3 in September, missing economists’ forecast for a reading of 102.
Industrials and financials led the selling as banks and airlines, respectively, extended losses from a day earlier amid concerns parts of the U.S. may see reopening measures rolled back.
Microsoft (NASDAQ:) reported profit that easily beat estimates after the market close. The company reported earnings per share of $1.82 on revenue of $37.2 billion. That compares to estimates for EPS of $1.54 on revenue of $35.76 billion. Let’s see how investors take that news tomorrow morning.
Here are three things that may move markets tomorrow:
1. Earnings galore in the morning
We hope you like corporate results, because Wednesday serves up a ton. Highlights before the market opens include pandemic standout United Parcel Service Inc (NYSE:)., up more than 40% so far this year, General Electric (NYSE:) Co., Mastercard Inc (NYSE:)., Anthem Inc. and Amgen Inc (NASDAQ:). We’ll also get a check on the health of beleaguered plane maker Boeing (NYSE:) Co.
2. And then some more earnings in the afternoon
The earnings deluge continues post-market. Speaking of beleaguered, we’ll hear from struggling carmaker Ford Motor (NYSE:) Co. Like buying stuff online? eBay Inc (NASDAQ:)., Etsy (NASDAQ:) Inc., and Pinterest (NYSE:) Inc. are all reporting. Visa Inc (NYSE:). is up, as is remdesivir maker Gilead Sciences Inc (NASDAQ:).
3. Tech on the Hill
The CEOs of tech titans Facebook (NASDAQ:), Alphabet (NASDAQ:) and Twitter are expected to testify before the Senate Commerce Committee. The hearing will focus on their liability protections for user content under Section 230 of the Communications Decency Act. But don’t be surprised if the New York Post’s Hunter Biden stories come up. This hearing was scheduled before Mark Zuckerberg and Jack Dorsey agreed to appear before the Judiciary Committee to discuss that kerfuffle.
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