U.S. stocks closed mixed, with the S&P 500 and the Nasdaq recording losses on Thursday.
The Dow Jones, however, recorded gains in the previous session as investors digested economic reports along with corporate earnings results.
Shares of Meta Platforms, Inc. META tumbled around 25% on Thursday after the company reported weaker-than-expected Q3 earnings and issued Q4 revenue guidance with a midpoint below estimates.
Apple Inc. AAPL reported better-than-expected quarterly results after the closing bell on Thursday.
As far as the earnings season is concerned, 227 S&P 500 companies have released quarterly results so far, with around 74% of those exceeding market estimates.
Economic data released Thursday showed that US economy returning to growth in the third quarter.
The Nasdaq 100 dipped 1.88% to close at 11,191.63 on Thursday amid a decline in Alphabet Inc. GOOG and Apple Inc. AAPL shares, while the S&P 500 fell 0.61%. The Dow Jones gained around 194 points to settle at 32,033.28 in the previous session.
Major sectors on the S&P 500 closed on a mixed note, with industrials stocks recording the biggest surge on Thursday. However, communication services and information technology stocks dropped sharply in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 0.4% to 27.39 points on Thursday.
What is CBOE Volatility Index?
The CBOE Volatility Index, popularly known as VIX, is a measure of the equity market’s expectation of volatility based on S&P 500 index call and put options.
Image and article originally from www.benzinga.com. Read the original article here.