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US stock market opens mixed, indices retreat from record highs

US stock market opens mixed, indices retreat from record highs
Microsoft, Alphabet up after strong earnings in Q3

By Ovunc Kutlu

ANKARA (AA) - US stocks opened mixed Wednesday as the Dow Jones and the S&P 500 continued to decline from record highs.

The blue-chip Dow Jones was down 18 points, or 0.05%, to 35,739 at 9.47 a.m. EDT after it hit an all-time high of 35,892.92 in the previous session.

The S&P 500, on the other hand, was up 6 points, or 0.14%, to 4,580 but was below its all-time high of 4,598.53 posted Tuesday. Tesla's stock price was up 3%.

The Nasdaq rose 85 points, or 0.56%, to 15,321 with Novavax jumping 8.9%. Microsoft and Alphabet rose 2.9% and 2.5%, respectively, after announcing strong income and revenue results for the third quarter late Tuesday.

Microsoft's net income rose to $20.5 billion, up 47.5% from $13.9 billion in the same period of 2020. Revenue increased 22% to $45.3 billion, from $37.1 billion.

Google’s parent company Alphabet saw revenue increase 41% to $65.1 billion in the July-September period from nearly $46.2 billion in the same period last year. Its net income climbed to more than $18.9 billion from $11.2 billion for a 69% increase year-on-year.

The yield on 10-year US Treasury notes was down 3.5% to 1.561%, and the dollar index fell 0.17% to 93.79.

The VIX volatility index, known as the fear index, was down 1.9% to 15.68.

International benchmark Brent crude was trading at $84.82 with a 1% loss and US benchmark West Texas Intermediate was down 0.9% to $83.89.

Precious metals were slightly up with gold adding 0.16% to $1,795 per ounce and silver increasing 0.2% to $24.2.


source: News Feed
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