October 27, 2020
22:04
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The US markets closed in the red on Tuesday, weighed down by several disappointing quarterly results.
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Wall Street ended down on Tuesday, penalized by the publication of results deemed disappointing and by the political deadlock in Washington where the case for the plan to support the economy is not moving forward. The Dow lost 0.80% to 27,463.19 points. The S&P 500 lost 0.30% to 3,390.68 points. The Nasdaq advanced 0.64% to 11,431.35 points. If the White House has expressed confidence in reaching an agreement with the Democrats on a plan to support the economy battered by the coronavirus epidemic by “the next few weeks”, this schedule seriously questions the hypothesis a compromise before the November 3 elections.
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In terms of values, Tiffany finished up 4.93% after news was released reporting discussions of lowering the price LVMH could pay to capture it, boosting hopes for a takeover bid. Xilinx jumped 8.56% in the wake of the announcement of its takeover by Advanced Micro Devices (-4.07%) for $ 35 billion. On the decline, Caterpillar finished down 3.24% after reporting a 54% drop in third-quarter profit.
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