US closes lower ahead of another batch of earnings

Thursday, 03. November 2022 21:00

Major stock market indexes in the United States closed lower on Thursday as companies such as Coinbase Global Inc., PayPal Holdings Inc., and Amgen Inc. were about to reveal their financial results in the third quarter. Earlier, two different reports on the country's services in October showed that the sector's activity either declined or slowed the pace of growth. Meanwhile, Amazon.com Inc. said it will halt corporate hiring, while Stripe Inc. confirmed it will cut its workforce by 14%.

The Dow Jones Industrial Average was 0.47% or 148 points lower at the close as Apple Inc. dropped by 4.24%. The Nasdaq 100 fell by 1.98% or 215 points, with Cognizant Technology Solutions Corp. plunging by 13.77%. The S&P 500 declined by 1.06% as Lincoln National Corp. plummeted by 33.15%.

The euro lost 0.70% to the dollar at 3:58 pm ET to sell for $0.97495.

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Author:
Baha Breaking News (BBN) / JR