Economy | News-Opinion
CLOSING BELL: October 10th: DJIA: 13,344.97 | DOWN 128.56 | -0.95%
OIL: $91.25 DOWN 1.14, -1.23%
GOLD: $1,765.10, UP 0.1, + 0.01%
GASOLINE (US Avg): $3.813, DOWN 0.002
Blue chips Chevron, Alcoa lead Wall Street’s sell-off
Rodrigo Campos, Reuters – The S&P 500 fell for a fourth day on Wednesday, weighed down by disappointing news from Chevron and Alcoa as earnings season got under way.
Chevron (CVX.N) shares dropped 4.2 percent to $112.45 after it said third-quarter profits would be “substantially lower” than the previous quarter, while Alcoa (AA.N) fell 4.6 percent to $8.71 after it posted a quarterly loss. The company cut its outlook for global aluminum demand, citing a slowdown in China.
Both stocks are Dow components, and the blue-chip average posted its biggest daily percentage drop since early July.
Read the full story at Reuters [here]
The Common Good publishes a financial market wrap-up every weekday after markets close, available here.
