New York, NY – In the stock market today, the Dow Jones Industrial Average and small caps experienced declines, while the Nasdaq reached a new all-time high. The Dow dropped by 0.4% and ended near its session lows, while the Nasdaq composite rose by 0.8%. The S&P 500 saw a slight increase of 0.2% before experiencing a late pullback.
The small-cap Russell 2000 fell by 0.3%, giving back some of the previous day’s gains. Meanwhile, the Innovator IBD 50 ETF (FFTY) added 0.4%. Trading volume on both the New York Stock Exchange and the Nasdaq increased, based on unconfirmed data.
Despite the Nasdaq’s gain, falling stocks on the exchange outnumbered rising stocks by 9-to-7. On the New York Stock Exchange, losers surpassed gainers by about 12-to-5. Alphabet (GOOGL) saw a 4% increase in after-hours trading following the release of the company’s third-quarter earnings report, which surpassed expectations.
In other market news, the 10-year Treasury yield remained steady at 4.27%, while crude oil prices fell by around 0.3%, closing at $67.14 per barrel on the Nymex. Nu Holdings (NU), a stock endorsed by Warren Buffett, climbed more than 1% and entered a buy zone. Meanwhile, Stanley Black & Decker (SWK) plummeted over 8% after missing sales estimates for the third quarter.
In the midst of market volatility, Trump Media & Technology (DJT) surged by nearly 14% with former President Donald Trump owning a majority stake in the company. Alphabet (GOOGL) and other tech giants like Microsoft (MSFT) and Amazon.com (AMZN) also saw positive movements in their stock prices.
Stocks like Commvault (CVLT), Rubrik (RBRK), Incyte (INCY), and Harmonic (HLIT) experienced varied reactions to their earnings reports, with some soaring and others plummeting. Footwear stocks like VF Corp (VFC) and Crocs (CROX) also showed mixed results in the market.
Amid fluctuating market conditions, job openings in September fell short of estimates, while consumer confidence increased in October. Companies like F5 (FFIV), Boot Barn (BOOT), and TransMedics Group (TMDX) experienced significant price movements following their earnings reports.
Additionally, PayPal Holdings (PYPL) and D.R. Horton (DHI) faced challenges after their earnings reports, leading to declines in their stock prices. On the other hand, stocks like Corning (GLW) and Leidos Holdings (LDOS) surged following positive earnings results, with Corning reaching a new high and Leidos Holdings setting an all-time high in the market.
For more stock market news and updates, follow Kimberley Koenig on Twitter @IBD_KKoenig.