Economists expected a massive rebound in economic growth for the third quarter and they got one.
 | FRI, OCT 30, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 108.86 | -6.46 | -5.60% | | INTC | 44.28 | +0.17 | +0.39% | | MSFT | 202.47 | -2.25 | -1.10% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 108.86 | -6.46 | -5.60% | | GE | 7.42 | +0.05 | +0.68% | | TWTR | 41.36 | -11.07 | -21.11% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 108.86 | -6.46 | -5.60% | | AMD | 75.29 | -2.73 | -3.50% | | AAL | 11.28 | +0.12 | +1.08% | |
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Wall Street ended the week, and the month, down and battered. The Dow Jones Industrial Average closed more than 150 points, or 0.6%, lower Friday. At one point, the Dow was down more than 500 points. The S&P 500 and Nasdaq Composite lost 1.2% and 2.5%, respectively. Stocks were pressured by declines in major tech names. Facebook, Amazon, Apple and Twitter all fell on the back of mixed results for the previous quarter. Those drops led the major averages to their worst weekly performance since March. The Dow retreated more than 6% for the week and the S&P 500 slid 5.6%. The Nasdaq also lost more than 5% over that time period.  "The usual market demons are back: COVID cases have returned to all-time highs, Europe is locking down again, and a vaccine remains crucial but elusive," Lindsey Bell, chief investment strategist at Ally Invest, wrote in a note. "Combined with a political landscape devoid of stimulus but rife with election worry, it's enough to spook even the steadiest of markets." Friday's session also marked the end of a downbeat month on Wall Street. The Dow, S&P 500 and Nasdaq all closed lower for October. It was their first consecutive monthly decline since February and March. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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