Dow Snaps Losing Streak as Earnings Impress

Earnings from Alphabet and Microsoft are due out after the close

Laura McCandless

Deputy Editor

Oct 24, 2023 at 4:25 PM

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The Dow surged 204 points today, snapping a four-day losing streak thanks to a slew of earnings reports -- including a big quarterly win from Coca-Cola (KO) -- that encouraged investors about the health of the stock market. The Nasdaq scored a triple-digit pop as well, while the S&P 500 (SPX) snapped its five-day skid, as the 10-year Treasury yield pulled back from 5%. Wall Street is now looking ahead to Big Tech earnings from Alphabet (GOOGL) and Microsoft (MSFT), due out after the close today.

Logitech stock surged after profit announcement.
Zoom stock hanging around its April lows.
Plus, two stocks drawing analyst attention; and more on KO's post-earnings pop.

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5 Things to Know Today

Morgan Stanley is in the midst of a leadership transition, with three potential chief executive successors. In the meantime, the lack of news appears to be weighing on the bank stock.
Britain today got rid of a decade-old cap on bank bonuses. This move diverges from pre-Brexit European Union (EU) rules. (MarketWatch)
Analyst looking forward to DraftKings earnings.
Energy drink stock showing signs of life.
Call traders buzzing over Coca-Cola earnings.

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Commodities Pull Back

Oil prices moved lower for a third-straight session, as investors await updates regarding the Israel-Hamas war and tomorrow's U.S. petroleum supplies data. The new front-month contract, December-dated West Texas Intermediate (WTI) crude, fell $1.75, or 2.1%, to settle at $83.74 a barrel.

Gold futures was mostly static with a marginal drop. December-dated gold lost $8.10 to settle at $1,986.30 an ounce Friday.

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