US close: Dow retreats from record high as traders digest Q3 earnings

(Sharecast News) - Wall Street stocks were in the red at the close of trading on Tuesday as Q3 earnings season kicked up a gear. At the close, the Dow Jones Industrial Average was down 0.75% at 42,740.42, while the S&P 500 lost 0.76% to 5,815.26 and the Nasdaq Composite saw out the session 1.01% weaker at 18,315.59.

The Dow closed 324.80 points lower on Tuesday, more than reversing gains recorded in the previous session.

Earnings were Tuesday's primary focus, with UnitedHealth revealing that medical costs had exceeded Wall Street estimates during Q3, while Johnson & Johnson delivered a Q3 earnings beat and upped its full-year guidance.

As far as banks were concerned, Goldman Sachs reported a 45% quarterly profit jump on a solid investment banking performance, while Bank of America also exceeded profit estimates thanks to stronger-than-expected investment banking, and Citigroup delivered Q3 profits that fell far less than expected.

On the macro front, the New York Federal Reserve's Empire State manufacturing index crashed to -11.9 in October, down from a reading of +11.5 in September to surprise economists who were expecting a reading of +3.8. October's print, which marked the worst reading since May, came as new orders slumped 20 points to -10.2 and shipments dropped 21 points to -2.7.

No major data points were released on Tuesday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Walgreens Boots Alliance, Inc. (WBA) $10.42 15.78% Boeing Co. (BA) $152.35 2.26% Walmart Inc. (WMT) $81.65 1.69% Merck & Co. Inc. (MRK) $111.53 1.68% Johnson & Johnson (JNJ) $164.10 1.55% Verizon Communications Inc. (VZ) $43.76 1.27% McDonald's Corp. (MCD) $313.34 1.13% Apple Inc. (AAPL) $233.85 1.10% Nike Inc. (NKE) $82.12 0.64% Procter & Gamble Co. (PG) $173.52 0.61%

Dow Jones - Fallers

Unitedhealth Group Inc. (UNH) $555.18 -8.11% Intel Corp. (INTC) $22.68 -3.23% Chevron Corp. (CVX) $147.73 -2.67% Dow Chemical Co. (DOW) $52.57 -1.81% Caterpillar Inc. (CAT) $387.99 -1.51% Salesforce.Com Inc. (CRM) $288.35 -1.13% International Business Machines Corporation (CDI) (IBM) $232.96 -0.98% Walt Disney Co. (DIS) $94.22 -0.79% Visa Inc. (V) $279.50 -0.50% Cisco Systems Inc. (CSCO) $54.08 -0.35%

S&P 500 - Risers

Walgreens Boots Alliance, Inc. (WBA) $10.42 15.78% Carnival Corp. (CCL) $21.55 6.63% Charles Schwab Corp. (SCHW) $71.93 6.10% Nordstrom Inc. (JWN) $24.08 5.11% Norwegian Cruise Line Holdings Ltd (NCLH) $24.30 4.07% Sba Communications Corp. (SBAC) $249.39 3.99% Cencora Inc (COR) $233.12 3.70% Under Armour Inc. Class A (UAA) $9.39 3.64% Foot Locker Inc. (FL) $24.60 3.49% American Tower Corp (Reit) (AMT) $229.43 3.49%

S&P 500 - Fallers

KLA-Tencor Corp. (KLAC) $707.72 -14.70% Lam Research Corp. (LRCX) $76.36 -10.90% Coty Inc. Class A (COTY) $8.18 -10.80% Applied Materials Inc. (AMAT) $191.02 -10.69% Unitedhealth Group Inc. (UNH) $555.18 -8.11% Apache Corp. (APA) $24.86 -6.87% Centene Corp. (CNC) $68.48 -6.06% Diamondback Energy Inc. (FANG) $179.72 -5.76% Helmerich & Payne Inc. (HP) $34.09 -5.36% Advanced Micro Devices Inc. (AMD) $156.64 -5.22%

Nasdaq 100 - Risers

Walgreens Boots Alliance, Inc. (WBA) $10.42 15.78% Ross Stores Inc. (ROST) $146.25 2.04% Monster Beverage Corp (MNST) $52.62 1.82% Mondelez International Inc. (MDLZ) $71.80 1.80% Electronic Arts Inc. (EA) $146.40 1.55% Dollar Tree Inc (DLTR) $67.73 1.39% American Airlines Group (AAL) $12.03 1.35% Incyte Corp. (INCY) $66.30 1.31% Apple Inc. (AAPL) $233.85 1.10% Kraft Heinz Co. (KHC) $35.72 1.02%

Nasdaq 100 - Fallers

Asml Holdings N.V. (ASML) $730.43 -16.26% KLA-Tencor Corp. (KLAC) $707.72 -14.70% Lam Research Corp. (LRCX) $76.36 -10.90% Applied Materials Inc. (AMAT) $191.02 -10.69% JD.com, Inc. (JD) $40.16 -9.02% Trip.com Group Limited (TCOM) $58.02 -8.83% Baidu Inc. (BIDU) $93.97 -5.19% Synopsys Inc. (SNPS) $517.56 -5.11% Microchip Technology Inc. (MCHP) $75.23 -4.76% Nvidia Corp. (NVDA) $131.60 -4.69%