Analysts Expect Third Quarter Profits for the S&P 500 to Increase 33.7% YoY, when the balance sheets of that period of approximately 100 companies were already presented, according to the latest data from Refinitiv.
For its part, The Dow Jones industrial index was hurt by IBM’s stock slump after hitting an intraday high on Wednesday. The shares of the technology company fell because it did not meet the estimates of Wall Street for your quarterly income.
“For the most part, this is a low-risk day where people go back to the more defensive sectors,” including big tech companies, said Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance, completing: “Oil is down a bit today, so there may be some concern about global growth. There is also some concern about inflation.”
The CBOE volatility index, also known as the Wall Street fear measure, reached its lowest point since early July during the session.
The move suggests investors don’t see a big decline or rally for stocks going forward, despite concerns about cost-increasing supply chain issues, according to Shawn Cruz, senior market strategist at TD Ameritrade.
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