Markets closed flat on Wall Street: DJI +0.04% SP500 -0.04% Nasdaq +0% Gold +1.12%
The markets were flat because:
- GDP grew at an annual pace of 2% in the third quarter, better than the 1.7% GDP number in Q2.
- Earnings were mixed. Microsoft (MSFT) reported a 25% increase in revenues year-over-year, while Merck (MRK) and Chevron (CVX) shares faded with lackluster results. Don’t Miss: Today’s Earnings Cheat Sheets >>
- The last trading day of the month for October 2010 was recorded. Investors and traders are nervously watching for upcoming election results right around the corner.
- UAE Flight 201 from Yemen to JFK raised flight security concerns on the minds of Americans on day after Airlines hit the headlines with record profits.
- A minor uptick on the VIX fear index correlated with a rise in Gold (GLD) prices today.