S&P Dips from Record Friday, but Enjoys Winning Week

The S&P 500 edged lower a day after the benchmark closed at a record.

The Dow Jones Industrials recovered from several hours in negative territory to gain 73.94 points to 35,677.02, helped by a 4% rise in shares of American Express, which reported strong quarterly earnings Thursday. The ascent on the week was 382 points, or 1.1%.

The S&P 500 lost 4.88 points on the day to 4,544.20, still strengthening 73 points, or 1.6%, on the week.

The NASDAQ Composite fell 125.5 points to 15.090.20, after poor results from two technology companies. Still, the rise on the week was 193 points, or 1.3%.

Shares of Intel retreated more than 11% following a weaker-than-expected sales report. The semiconductor company blamed an industry-wide chip shortage for its revenue miss.

Social media stocks also dropped after Snap said its advertising business declined due to Apple’s privacy changes. Snap shares sunk more than 25%. … Read more

Central Bank Reports Wednesday

Central Bank Reports Wednesday

Monday

U.S.

Featured Earnings

Facebook Inc. (NASDAQ:FB) (Q3) EPS projected to $3.16, compared to $2.71 in the prior-year quarter.

Southern Copper Corporation (NYSE:SCCO) (Q3) EPS projected to $1.13, compared to 65 cents in the prior-year quarter.

Kimberly-Clark (NYSE: KMB) (Q3) EPS projected to $1.66, compared to $1.72 in the prior-year quarter.

Canada

Tuesday

U.S.

Economic Lookahead

S&P Case-Shiller home price index (Aug.)

Consumer confidence index (Oct.)

New home sales (Sept.)

Featured Earnings

Alphabet Inc. (NASDAQ:GOOGL) (Q3) EPS projected to $23.13, compared to $16.40 in the prior-year quarter.

Microsoft Corporation (NASDAQ:MSFT) (Q1) EPS projected to $2.06, compared to $1.82 in the prior-year quarter.

VISA Inc. (NYSE:V) (Q4) EPS projected to $1.53, compared to $1.12 in the prior-year quarter.

Canada

Featured Earnings

Canfor Corporation (T.CFP) (Q3) EPS projected to $1.75, compared to $5.76 in the prior-year quarter.

Canfor Pulp Products Inc. (T.CFX) (Q3) EPS projected to 28 cents, … Read more