Wall Street entered the new session today riding a 4 week winning streak but then came the news that there’s not much support for a bullish view of U.S. growth prospects in the fourth quarter of the year. Four-fifths of the experts surveyed by the National Association of Business Economics expect fourth-quarter growth of at least 2 percent. But only 7 percent predicted growth will top 3 percent, down from 16 percent in July. Apple helped drag down the Dow Jones industrial average. Apple fell more than 3 percent after its supplier Dialog Semiconductor plunged 20 percent after reporting preliminary earnings that missed expectations. Apple’s 4th quarter results come out tomorrow.
Brian Blair, principal and co-founder of Grays Peak Capital told CNBC:
“Today’s drop suggests Apple’s fourth-quarter units may not be as strong as many expect”
There was also a report in CNBC that-
“Over the past year investors have lost $20 billion dollars in publicly traded drilling partnerships or $8 of every $10 they had invested, according to a report prepared by FactSet for The Associated Press. That figure does not include losses from $37 billion of bonds sold by the partnerships in the five years since 2010, many down by half in last 12 months, or losses from bets on private partnerships that don’t trade publicly and are difficult to track.”
Here are the final numbers for Monday, 10/26/15 on Wall Street:
Dow Jones Industrial Average: 17, 623.05 (-23.65/ -0.13%)
NASDAQ: 5.034.70 (+2.84 / +0.06%)
S&P 500: 2,071.18 (-3.97 / -0.19%)
