3M rains on Microsoft parade

3M rains on Microsoft parade

Dow Jones Industrial Average falls 28 points

The Dow fell 28.42 points, or 0.11% to 26,805.53. The S&P 500 gained 0.19% to close at 3,010.29. The Nasdaq Composite advanced by 0.81% to 8,185.80. A mixed bag of corporate earnings led to a directionless session for the major indexes.

3M rains down on Microsoft’s parade

Shares of 3M fell more than 4% after the company cut its full-year earnings guidance. The stock’s losses pressured the Dow for most of the session and outweighed positive results from Microsoft. The tech giant climbed nearly 2% after reporting earnings and revenue that topped analyst expectations. Microsoft’s results were driven in part by strong sales from the company’s cloud business. Wall Street digested these results — along with reports from Twitter, Tesla, and Dow Inc — during the busiest day of the earnings season.

Twitter tumbles, Tesla surges

Twitter’s stock tumbled more than 20% on earnings that missed analyst expectations. The social media company said it faced product issues along with advertising “headwinds” during the previous quarter. Meanwhile, Tesla surged more than 17% after the electric car maker posted a surprise profit.

What happens next?

Investors will keep an eye on how Amazon shares react to the e-commerce giant’s quarterly results. Wall Street will also digest consumer sentiment data for October. Read more here.

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