Key Takeaways
- The S&P 500 gained 0.65% on Tuesday, Oct. 31, 2023, ahead of Wednesday's Fed decision, more key earnings news, and Friday's jobs report.
- Arista Networks led the S&P 500 higher as the maker of cloud computing networking gear beat estimates for profit, sales, and guidance.
- VF Corporation shares plunged after the parent of North Face and Vans withdrew its guidance, removed the head of Vans, and announced a plan to turn around the company.
U.S. equities advanced, with the S&P 500 rising 0.65%, ahead of Wednesday's decision by the Federal Reserve on the future of interest rates.
Investors are also likely monitoring more key corpor𒁏ate earnings results and the October employment report coming Friday. The Dow, S&P 500, and Nasdaq were all in the red for October.
Arista Networks (ANET) was Tuesday's best-performing stock in the S&P 500. Shares gained 14% after the maker of 澳洲幸运5开奖号码历史查询:cloud computing networking gear beat forecasts on earnings, reve🎶nue, and outlook as it added so-called enterprise market customers, which include big corporations, government entities, and educational institutions.
Global tensions have boosted demand for weapons, leading Leidos Holdings (LDOS) to raise its full-year guidance. Shares of the defense contractor jumped 8%.
GE HealthCare Technologies (GEHC) reported better-than-expected results as deman🐷d for its medical equipment increased because of the rise in elective surgeries that had been put off during the COVID-19 pandemic. Shares picked up 5.4%.🔯
VF Corporation (VFC) shares plunged 14% as the owner of North Face and Vans withdrew its full-year outlook, replaced the head of Vans, and announced a turnaround p🌠lan.
Catalent (CTLT) indicated that it was delaying its quarterly results, and🐎 the news sent shares of the health technology provider tumbling 13.9%.
Caterpillar (CAT) shares dropped 6.7% after the big equipment manufacturer 澳洲幸运5开奖号码历史查询:reported a decline in order backlog and gave guidance🐎🍰 for the current quarter that was below expectations.
Amgen (AMGN) shares sank 2.8% as sales of some of the pharmaceutical company's key d💛rugs slumped.