U.S. stocks edge up as data, earnings pour in
Major U.S. indexes slightly green
Comm Svcs leads S&P sector gainers; Healthcare weakest group
Euro STOXX 600 index slides ~1%
Dollar dips, gold slightly higher; crude up ~1.5%; bitcoin dips
U.S. 10-Year Treasury yield falls to ~4.23%
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U.S. STOCKS EDGE UP AS DATA, EARNINGS POUR IN
U.S. stocks are slightly higher in early trade on Wednesday as investors digest the latest barrage of economic data and corporate earnings reports.
On the economic front, the ADP National Employment Report showed private payrolls increased by 233,000 jobs last month after rising by an upwardly revised 159,000 in September. The report is the latest labor market indicator out this week ahead of Friday's key payrolls report.
In addition, the Commerce Department advance estimate of third-quarter gross domestic product showed a 2.8% increase, slightly below the 3.0% estimate of economists polled by Reuters, as consumer spending increased at its fastest pace in 1-1/2 years and inflation slowed sharply.
The Dow Industrials .DJI is slightly outperforming the S&P 500 .SPX and Nasdaq Composite .IXIC in the initial stages of the session, as gains in Visa V.N are able to offset a decline in Caterpillar CAT.N after the Dow components reported quarterly results.
Elsewhere on the earnings front, Eli Lilly LLY.N shares plunged more than 12% as its high profile weight-loss and diabetes drugs fell short of Wall Street sales estimates.
Meanwhile, Super Micro SMCI.O shares collapsed about 30% after Ernst & Young resigned as its auditor.
Below is your market snapshot:
(Chuck Mikolajczak)
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FOR WEDNESDAY'S EARLIER LIVE MARKET POSTS:
S&P 500 INDEX: CAN IT REKINDLE ITS SPIRIT? - CLICK HERE
A GOLDEN YEAR - CLICK HERE
TRUMP MEDIA PRIMED FOR SHORT SQUEEZE DAYS BEFORE U.S. ELECTION - CLICK HERE
SMALL CAPS' STRUGGLES - CLICK HERE
STOXX AT FIVE WEEK LOW - CLICK HERE
EUROPE BEFORE THE BELL: RESULTS FIRST, BUDGET LATER - CLICK HERE
BUDGET, GDP AND TECH EARNINGS - CLICK HERE
Early trade Oct 30 https://tmsnrt.rs/3Yth4lm
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