Market Overview - Stocks experienced significant volatility, with major averages fluctuating throughout the trading day [1] - The Nasdaq and S&P 500 ended positively, while the Dow posted a slight loss of 17.15 points, closing at 46,253.31 [2] Company Performance - Morgan Stanley's shares surged by 4.7% to a record closing high following better-than-expected third-quarter results [3] - Bank of America saw a 4.4% increase in its stock price after reporting third-quarter results that exceeded analyst expectations [3] - ASML's U.S.-listed shares showed strength despite mixed third-quarter results, with expectations for 2026 net sales to exceed 2025 [4] Economic Indicators - The New York Fed reported a significant turnaround in manufacturing activity, with the general conditions index rising to 10.7 in October from a negative 8.7 in September [5] - The Federal Reserve's Beige Book indicated little change in U.S. economic activity since early September, with mixed reports across the twelve Fed districts [6] Sector Performance - Gold stocks rose sharply, with the NYSE Arca Gold Bugs Index increasing by 4.1% to a record high [7] - Computer hardware and semiconductor stocks also performed well, with the NYSE Arca Computer Hardware Index and the Philadelphia Semiconductor Index rising by 4.0% and 3.0%, respectively [7] - Commercial real estate, oil service, and biotechnology stocks showed notable strength, closing higher along with most major sectors [8] International Markets - In the Asia-Pacific region, stocks mostly moved higher, with Japan's Nikkei 225 Index up by 1.8% and China's Shanghai Composite Index up by 1.2% [9] - European markets showed mixed performance, with the French CAC 40 Index rising by 2.0%, while the German DAX Index and the U.K.'s FTSE 100 Index fell by 0.2% and 0.3%, respectively [9] Bond Market - Treasuries moved lower, leading to a rise in the yield on the benchmark ten-year note by 2.4 basis points to 4.046% [10]
Nasdaq, S&P 500 Close Higher After Another Volatile Session