Stock Market Reporting Weekend 10/30/20

October 30, 2020 21:30 NYDT – Despite the fact, stocks put up a resistance on Thursday, the potential for gains fell flat at the closing bell Friday as the DOW Jones Industrial composite index (image above) fell 157 points (0.6%), the NASDAQ fell 274 points (2.5%), and the Standard & Poor’s (S&P 500) fell 40 points (1.2%).

Amazon (AMZN) and Apple (AAPL) surprised Wall Street today by reporting lower than expected earnings corresponding to stock losses of 5.5% and 5.6%, respectively.

Google (GOOG) was then left to hold up the fort of Big Tech with slightly better than expected earnings as businesses are resuming advertising through their platform. Google (GOOG)’s parent company stock profile is more modest than Amazon (AMZN), through benefiting from trading stock at 36 times its earnings. While, Amazon (AMZN) trades at 119 times its earnings.

Facebook (FB) is forecasting a difficult 2021 from the results of the upcoming election, causing its stock shares to sell off Friday with losses of 6.3%.

And lastly, the ripple effect of plunging oil prices this week are affecting gasoline producers, Chevron (CVX) and Exxon Mobile (EOM), with losses of 2.8% and 3.5%, respectively for the month of October @nyse.

@nytimes @CNN

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