Economy Country October 29, 2024

US Stocks Decline Amid Mixed Earnings Reports

US stocks experienced a decline on Tuesday, with McDonald's shares rising despite lower global sales, and Ford Motor stocks dropping significantly after cautious guidance for the year.


McDonald's shares rose by 1.52%, despite the overall being significantly less than expected, due to a decline in sales in stores worldwide. Ford Motor shares fell initially by 9.10% after the automotive company presented a forecast for the next year, which turned out to be on the lower end of its previous range.

It can be highlighted that the Dow Jones Industrial Average index broke a series of five days of losses, while the S&P 500 index fell by 0.32%, and Nasdaq dropped by 0.23%. These market movements occurred after a profitable session for three major indexes on Wall Street.

The profits of American stocks declined on Tuesday, as traders prepared for the earnings reports of major tech companies.