S&P 500 Rebounds to 7,690 With SpaceX and Meta on Deck
By Damilola Esebame
AI summary of the source article
The S&P 500 rose 0.4% to 7,690.73 on October 19, snapping a two-session decline amid strong third-quarter earnings. The Nasdaq Composite advanced 1.1%, led by technology shares ahead of earnings reports from major companies including Meta Platforms.
Why it matters
Equity strategists noted that the earnings season could override macro headwinds if results continue to surprise to the upside.
Key facts
- On October 19, the S&P 500 rose 0.4% to 7,690.73 and the Nasdaq Composite climbed 1.1% to 26,430.89.
- Of the 9% of S&P 500 companies reporting by October 16, 84% beat EPS estimates and blended earnings growth reached 29.0%.
- The 10-year Treasury yield closed at approximately 5.15% on October 19 as markets assessed inflation at 3.7%.
Source excerpt · FinanceFeeds
The S&P 500 closed on October 19 at 7,690.73, gaining 0.4% and snapping a two-session losing streak that had rattled investor confidence. The Nasdaq Composite surged 1.1% to finish at 26,430.89, while the Dow Jones Industrial Average slipped 0.07% to 51,966.03, and the rebound followed a bruising stretch for equities. The prior week saw the Nasdaq tumble 4.5%, and the S&P 500 fell nearly 2% as dou…