A wave of key earnings reports out overnight and this morning made for a choppy and unsettled session. Crude also pressured markets, sliding to its lowest settlement since April. Mobileye (MBLY) sank after announcing the end to its partnership with Tesla (TSLA) . The company had lent its driver-assistance technology to Tesla's autopilot feature. Mobileye topped quarterly earnings estimates earlier in the day. Goldman Sachs added Starbucks to its Conviction Buy list, citing a favorable valuation and anticipated acceleration in comparable-store sales. The coffee chain missed quarterly sales estimates when it reported last week. Linear Technology (LLTC) soared after Analog Devices (ADI) confirmed it would buy the circuitmaker. The deal values Linear at $14.8 billion. TheStreet's Keris Lahiff has details from Wall Street.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.