FYI: U.S. stocks inched higher Wednesday, extending a streak of listless trading for markets.
Major indexes opened little changed and drifted along in a narrow range throughout the trading session.
Many of the biggest moves of the day stemmed from companies that had recently reported quarterly earnings. S&P 500 companies have largely managed to beat analysts’ estimates so far in the reporting season--although investors note that expectations were low for the quarter, due to factors including a slowing global economy and a still unresolved U.S.-China trade fight.
UBS expects that, even if the two countries manage this year to strike a firmer deal to roll tariffs back, there will still be “a meaningful slowdown going into the first half of next year,” said Seth Carpenter, chief U.S. economist at UBS.
The S&P 500 gained 0.28% Wednesday. The Nasdaq Composite was up 0.19% and the Dow Jones Industrial Average edged higher by 45 points, or 0.17%, to 26833.
Semiconductor stocks trailed behind major indexes, with Texas Instruments dropping 7.8% after giving a downbeat outlook for the fourth quarter.
Health-care stocks were mixed: Eli Lilly fell 2.2% after posting revenue that missed analysts’ expectations and medical-device maker Boston Scientific climbed 5.4% after it raised its revenue growth target.
Among industrials, Boeing shares added 0.2% after the aerospace giant said profits more than halved in the latest quarter but indicated it still expects its 737 MAX to return to service by the end of the year.
Elsewhere, the Stoxx Europe 600 ticked up 0.1% after British lawmakers endorsed the terms of a Brexit agreement but rejected the government’s proposed timetable.
The pound, which had fallen sharply after Tuesday’s votes, edged up 0.3% against the U.S. dollar.
In Hong Kong, the Hang Seng Index fell 0.8%, posting its biggest one-day decline since the start of the month, following reports that China is preparing to replace the city’s leader, Carrie Lam.
Worries about months of protests in the city and the resulting economic fallout have made the Hang Seng one of the worst-performing indexes in the region this year.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-10-23/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/dow-futures-fall-100-points-as-caterpillar-results-disappoint-and-boeing-microsoft-on-deck-2019-10-23/printWSJ:
https://www.wsj.com/articles/brexit-uncertainty-weighs-on-stocks-11571821969Bloomberg:
https://www.bloomberg.com/news/articles/2019-10-22/asia-stock-futures-mixed-pound-slips-after-vote-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-move-higher-sp-500-all-time-high/CNBC:
https://www.cnbc.com/2019/10/23/stock-market-earnings-and-economic-data-in-focus-on-wall-street.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/apple-boeing-keep-wall-street-afloat-weak-earnings-stoke-growth-fears-idUSKBN1X21KKU.K:
https://uk.reuters.com/article/uk-britain-stocks/brexit-tussle-bogs-down-uk-midcaps-idUKKBN1X20RKEurope:
https://www.reuters.com/article/europe-stocks/corrected-update-1-tech-stocks-weigh-on-europe-brexit-delay-looms-idUSL3N2781V2Asia:
https://www.cnbc.com/2019/10/23/asia-markets-oct-23-brexit-oil-and-currencies.htmlBonds:
https://www.cnbc.com/2019/10/23/us-bonds-treasury-yields-in-focus-amid-economic-data-auctions.htmlCurrencies:
https://www.cnbc.com/2019/10/23/forex-market-brexit-developments-in-focus.htmlOil
https://www.cnbc.com/2019/10/23/oil-markets-us-inventory-output-cut-prospects-in-focus.htmlGold:
https://www.cnbc.com/2019/10/23/gold-markets-brexit-trade-war-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
