Well, 25 years ago today the Dow fell 22.6% in what came to be known as Black Monday. Not happening today though,and it is Friday.
General Electric (GE) reported third-quarter net income increased to $3.49 billion, or 33 cents per share, from $3.22 billion, or 22 cents per share, a year earlier. Factoring out one-time items, the profit was 36 cents per share, meeting the analysts’ average estimate. Revenue rose 2.8 percent to $36.35 billion from $35.36 billion. Expectations were for $36.94 billion.
McDonald’s (MCD) reported third-quarter earnings excluding items of $1.43 a share, below last year’s $1.45 per share and beneath the analyst target of $1.47. Revenue edged higher to $7.2 billion from $7.17 billion a year ago. Analysts expected McDonald’s to post $7.16 billion in revenue.
European stocks are lower and Asian markets ended mixed.
The national average price of gasoline is down 2.2 cents to $3.715 per gallon.
Earnings reports (estimates): GE-General Electric ($0.36), SLB-Schlumberger (1.06), MCD-McDonalds (1.47), HON-Honeywell (1.14), BHI-Baker Hughes (0.83), APD-Air Products (1.44), IR-Ingersoll-Rand (0.98), PH-Parker Hannifin (1.72), CBE-Cooper Industries (1.13), EW-Edwards Life (0.54), KSU-Kansas City Southern (0.84), Indexx Labs (0.73), NVR-NVR Inc (9.44), SEIC-SEI Investments (0.30), VMI-Valmont (2.05), SHAW-Shaw Group (1.38).
1000 ET Sep existing home sales expected -1.5% to 4.75 mln, Aug +7.8% to 4.82 mln.
1500 ET USDA Sep Cattle-on-Feed report.