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    Home»Stock Market»Stock market today: Wall Street sees little movement as GM surge offsets losses
    Stock Market

    Stock market today: Wall Street sees little movement as GM surge offsets losses

    October 23, 20242 Mins Read


    U.S. stock markets saw minimal changes on Tuesday as General Motors surged 10.4% on strong earnings offset a steep drop in GE Aerospace shares.

    • S&P 500: 5,851.20 ⬇️ down 0.0047%
    • Nasdaq Composite: 18,573.13 ⬆️ up 0.18%
    • Dow Jones Industrial Average: 42,924.89 ⬇️ down 0.016% 
    • STOXX Europe 600: 520.40 ⬇️ down 0.21%
    • CSI 300: 3,957.78 ⬆️ up 0.57%
    • Nikkei 225: 38,411.96 ⬇️ down 1.39%
    • Bitcoin: $67,466.16 ⬆️ up 0.15%

    U.S.: Stocks slip amid rising yields and earnings anticipation
    Tuesday’s trading session was quiet, with the S&P 500 edging down by less than 0.1%, continuing Monday’s slight decline after a six-week winning streak. The Dow Jones Industrial Average dipped 0.016%, while the Nasdaq Composite managed a 0.18% gain, led by tech stocks. General Motors had its best day since 2020, jumping nearly 10% after reporting stronger-than-expected profit and revenue. But GE Aerospace tumbled 9%, dragging down the markets after reporting weaker-than-expected revenue, despite solid profits.

    Europe: Modest declines despite SAP earnings beat
    European markets slipped on Tuesday, with the Stoxx Europe 600 falling by 0.21%, as concerns over U.S. Treasury yields weighed on investor sentiment. SAP provided a bright spot, with shares surging 5% after the German software giant exceeded earnings expectations. However, the broader market remained under pressure as other sectors, particularly healthcare and utilities, continued to lag.

    China: Marginal gains amid broader market caution
    Chinese markets showed resilience, with the CSI 300 rising 0.57%, led by gains in real estate stocks. Despite global market uncertainty, China’s indexes floated higher as traders awaited upcoming corporate earnings reports. Meanwhile, Hong Kong’s Hang Seng inched up 0.1%, as investors remained cautiously optimistic about further economic support from the government.

    Japan: Shares fall ahead of national and U.S. elections
    The Nikkei 225 fell 1.39%, as polls showed that the ruling coalition may lose its majority in Oct. 27 elections. The drop was led by broad declines in financials and technology stocks, while Uniqlo-owner Fast Retailing also took a big hit, with a 3.18% cut. Investors also worried that Trump’s rise in U.S. polls could herald more inflation.

    And earnings season continues…

    It’s a huge earnings week, with 112 of the S&P 500 reporting. Tesla, Coca-Cola, IBM and Boeing report Wednesday.



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