• A mixed reaction from the market. US stocks recovered from session lows on Tuesday but finished the day mixed. Investors have been reacting to recent bond market sell-off as more earnings reports come in. It was the first back-to-back negative days for the S&P 500 since Sept. 6th.
• The 10-year Treasury yield held steady. The 10-year Treasury steadied around 4.2% after Monday's sharp gains helped push it above that level for the first time since July.
• Oil prices stood out. WTI crude rose about 3% to trade above $72.50 a barrel. Brent crude, the international benchmark, rose more than 2% to trade just above $76 a barrel.
• McDonald's shares sank on E. coli outbreak news. The stock sank nearly 10% in after-hours trading on Tuesday after the Centers for Disease Control and Prevention said the company's quarter pounder burgers had been linked to an E. coli outbreak in some states, with most illnesses in Colorado and Nebraska.
• Starbucks shares dropped on preliminary disappointing Q4 results. The company also pulled guidance for 2025 after sales plunged for a third consecutive quarter.
• Trump Media & Technology Group stock hit its highest level since July. The stock rose as much as 10% on Tuesday as investors bet on former President Donald Trump's improved odds of winning the November election in exactly two weeks.
• GM shares jumped. The automaker delivered a third quarter earnings beat while raising its full-year guidance for the third time this year. The stock has seen a 50% YTD climb.
• Anticipation builds for the next wave of earnings. Tesla and Boeing will report today while PayPal will report on Thursday. Earnings results have already come in for GE Aerospace, Philip Morris, Verizon, Lockheed Martin, Sherwin Williams, and 3M.

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Tesla reports their 3rd quarter, ’24 financial results after the closing bell today.  Consensus analyst expectations are looking for $0.58 in EPS, $25.37 billion in revenue, for expected y-o-y growth of -12% for EPS and +9% revenue growth.

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Most Active Stocks

• Polaris Inc. (PII)
• Philip Morris International (PM)
• Wingstop, Inc. (WING)
• McDonald's (MCD)
• Nvidia (NVDA)
• Trump Media & Technology Group (DJT)
• Starbucks (SBUX)
• GE Aerospace (GE)
• Tesla (TSLA)
• General Motors (GM)

In the Spotlight

 Walmart Announces Same-day Delivery for Prescriptions

Big box retailer Walmart announced on Tuesday that the company will offer same-day prescription delivery services in six states, with a plan to roll out to all 49 states (North Dakota excluded) in which it operates a pharmacy by January. The first six states are Arkansas, Missouri, New York, Nevada, South Carolina, and Wisconsin.  

McDonald's Plummets on E-Coli Outbreak News

McDonald's shares dropped on Tuesday after the Centers for Disease Control and Prevention linked the fast-food chain's Quarter Pounder burgers to an E. coli outbreak. The CDC said the outbreak has hit 10 states, with 10 hospitalizations and one death. "Most" of the 49 people reported falling sick said they ate a McDonald's Quarter Pounder.