Today's stock market news focuses on earnings and the release of a backlog of economic data that was delayed due to the federal government shutdown.
September's U.S. home sales report weighed on stocks this morning. Sales fell 1.9% last month as prices rose along with mortgage rates, according the National Association of Realtors. Sales fell to an annual rate of 5.29 million, a tad lower than the 5.3 million economists expected.
Crude oil futures have sunk about 1% to $99.86, breaking below $100, while gold is up slightly at $1,317 per ounce for December delivery after ending last week up 3.7%, the strongest weekly gain since August.
Nonfarm payroll data, traditionally released on Fridays, will be released tomorrow, along with the unemployment rate. Weekly jobless claims will be released Oct. 24.
Major top stock market news today also includes JPMorgan's (NYSE: JPM) deal reached Friday to settle with the Department of Justice for $13 billion. The settlement's size is stirring discussion among analysts today, as is the fact that it exposes the bank to criminal charges. JPM is down 0.3% at $54.21.
Among the major movers today, First Solar Inc. (Nasdaq: FSLR) shares are up more than 10% as JPMorgan analysts choose the stock as one of their top choices in the clean-tech sector. SolarCity Corp. (Nasdaq: SCTY), also among the top picks, is up about 4%.Consumer Stocks in the News Today
Among consumer stocks, McDonald's Corp. (NYSE: MCD) is claiming headlines today. The fast food retailer released its quarterly earnings this morning, disappointing investors with fairly flat sales, although earnings did top estimates for the first time in several quarters. McDonald's stock is down about 1% today.
Meanwhile, Hasbro Inc. (Nasdaq: HAS) is up about 5% on its quarterly earnings. The toymaker's profit climbed 17%, with sales boosted in part on improved sales in its girls' segment.
Finally, VFC Corp. (NYSE: VFC) reported Q3 revenues up 5% to $3.3 billion and adjusted earnings per share up 11% to $3.91. Full-year adjusted earnings guidance is unchanged after incremental investments of $0.25 per share are expected to drive future growth. Analysts expected $3.78 on $3.3 billion.Apple, Netflix Boost Technology Sector
Apple (Nasdaq: AAPL) is preparing to reveal its latest version of the iPad tomorrow, and shares are up 2.4% today on the anticipation of an iPad mini with high-definition Retina display and a thinner design of the 9.7-inch iPad. For a look at how Money Morning Defense & Tech Specialist Michael A. Robinson values Apple stock, check out this recent analysis.
Netflix Inc. (Nasdaq: NFLX) is up about 5% in trading today as the company prepares to release its quarterly earnings today after the closing bell. Analysts expect $0.49 per share in earnings on $1.1 billion in revenue for the third quarter.
And Google (Nasdaq: GOOG) stock, fairly flat today, is holding Friday's roughly 10% gain on the heels of the company's earnings report. GOOG broke past $1,000 per share Friday, with shares today trading around $1,011.34.Healthcare Sector Movers Today
Cell Therapeutics Inc. (Nasdaq: CTIC) is up about 3% after the biopharmaceutical company said the results from its study on a drug for lymphoma proved it is "unique" in inducing tumor cell death. PIXUVRI would be the first approved drug in a new class of anti-cancer agents in the United States. It's already approved in Europe.
In other healthcare movers today, EntreMed Inc. (Nasdaq: ENMD) shares are up 5% today after the company said preclinical data on a family of tumor suppressors was effective in mediating response to ENMD-2076 in triple-negative breast cancer. The company said the data demonstrated "robust anticancer activity."
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