Industrial Stocks Decline - Adviser Investments

Industrial Stocks Decline

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Thursday, October 18. Major U.S. stock indexes fell, with the Dow Jones Industrial Average, S&P 500 and NASDAQ down 1.3%, 0.5% and 2.1%, respectively. Midterm election uncertainty and geopolitical tension contributed to today’s decline, and tariff-related issues particularly impacted industrial stocks: Caterpillar, which is scheduled to report earnings next week, declined nearly 4%; United Rentals, Snap-on and Textron each fell more than 5%. Meanwhile, American Express gained about 1% after the company beat analysts’ earnings and revenue expectations and announced an expansion of its PayPal partnership.

 

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