Dow, S&P end down as Treasury yields rise, investors eye earnings

Dow, S&P end down as Treasury yields rise, investors eye earnings

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

Mon October 21, 2024 4:27 PM

All three indexes took huge dives this morning only to recover most losses by close. The exception was the Dow that took a particularly big 3-digit dive and then stayed there all day.  But nary a worry, not after six straight weeks of gains and a string of record highs, the consensus being that a pullback is quite normal after such a substantial run up.  

This is going to be a huge earnings week with 141 companies reporting so a little profit-taking based on some mild trepidation that lofty valuations will continue to be justified also contributed to the slide. “A little bit of a breather” is what one expert said. As election day approaches, the markets are expected to be erratic reacting to every tiny little change in the tight polls. Volume of 11.3 billion is just a little below the 11.6 billion average. 

DJ: 43,275.91  +36.86       NAS: 18,489.55  +115.94      S&P: 5,864.67  +23.20        10/18

DJ: 42,931.60  -344.31      NAS: 18,540.01  +50.45        S&P: 5,853.98  -10.69         10/21

Mon 10-21-24 4:27 p.m. Dow, S&P end down as Treasury yields rise, investors eye earnings | Reuters