Wall Street Rebounds, General Electric Plunges - Adviser Investments

Wall Street Rebounds, General Electric Plunges

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, October 30. Major U.S. stock indexes enjoyed solid gains today, with the Dow Jones Industrial Average up 1.8% and the S&P 500 and NASDAQ both gaining 1.6%. Meanwhile, General Electric plunged nearly 9%—down to its lowest level since 2009—after announcing that quarterly earnings and revenue fell short of analyst expectations. The company also cut its dividend from $0.12/share down to just $0.01/share and revealed that the Securities and Exchange Commission has expanded its accounting investigation related to the GE Capital insurance portfolio.

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