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Stocks pull back down the stretch, but October is a big gainer

  • Stocks closed out a big October with modest losses in quiet trading, as investors sorted out generally upbeat corporate earnings against the potential for the Fed to taper its stimulus efforts before year's end.
  • The market could continue to treat positive economic news as bad for stocks; today's session hit its low point when the Chicago PMI registered its largest one-month spike in more than 30 years.
  • Stocks also may have been weighed late by news of Israeli airstrikes on Syria.
  • Consumer discretionary stocks led gainers, supporting by media names after Time Warner Cable (+2.8%) beat earnings estimates, and internet retailers after Expedia's (+18%) big quarter.
  • The yield on the 10-year Treasury note rose to 2.542%, while the dollar rose against major currencies; gold and crude oil futures both fell.
Comments (2)
  • The Geoffster
    , contributor
    Comments (4066) | Send Message
     
    "Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months."
    - Irving Fisher, Ph.D. in economics, Oct. 17, 1929
    31 Oct 2013, 08:16 PM Reply Like
  • al roman
    , contributor
    Comments (9329) | Send Message
     
    Their are some strong after hour's #'s.
    31 Oct 2013, 08:40 PM Reply Like
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