News updates from October 31: S&P 500 ends winning streak on tech sell-off; Apple beats expectations on higher iPhone sales

Quick Summary:

The moves, which marked the biggest daily drops for the indices since September 6, left the S&P 500 and Nasdaq down 0.7 per cent and 0.1 per cent, respectively, month to date.Microsoft fell 5.8 per cent after its quarterly earnings outlook disappointed.

The Paris-listed lender reported quarterly net income of €2.87bn, 5.9 per cent higher than a year ago, and a 2.7 per cent increase in revenues to €11.9bn. Both figures were in line with analysts’ expectations.

Revenue growth of 36 per cent year on year was propelled by a 63 per cent jump in income from options trading.“Although the headline results were disappointing, operating results were strong,” said Mizuho analyst Dan Dolev, who attributed the miss to likely mis-modelling by forecasters of one particular item.

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Author / Journalist: Peter Wells

Category: MarketsFinanceInvesting

Markets: United StatesChinaFranceGeorgiaGermanyHong KongIndiaIsraelJapanNorth KoreaSouth KoreaLebanonMaliSpainTaiwanUkraineUnited Kingdom

Topics: Year Fell Thursday Earnings Cent Sales Data Company Quarter Trading Stocks

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 23:23:42 (2 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 6445 words

Reading Time: 36 minutes read

Sentences: 245 lines

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Copyright Owner: © Financial Times

News ID: 23370688

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