Live Markets: Wall Street indexes close to flat with earnings weighing

Intuitive Surgical

22/10/2025 15:33

Updates after U.S. markets open

S&P 500, Nasdaq, Dow edge down

Energy leads sector gainers, consumer discretionary is biggest loser

STOXX 600 up ~0.14%

Gold falls >1%, dollar flat, crude rises >2%

U.S. 10-year Treasury yields up to ~3.97%

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WALL STREET INDEXES CLOSE TO FLAT WITH EARNINGS WEIGHING

Wall Street  indexes were falling slightly on Wednesday with some of the latest earnings reports falling short of investor hopes and the U.S. government shutdown dragging on.

While White House economic adviser Kevin Hassett said on Monday that 20-day U.S. federal government shutdown is likely to end this week, President Donald Trump on Tuesday rebuffed a request by top Democratic lawmakers to meet until the three-week-old U.S. government shutdown ends.

Netflix NFLX.O shares fell 8.9% after it missed Wall Street's third-quarter earnings targets because of an unexpected expense from a Brazilian tax dispute. While its forecast for the rest of the year was a touch ahead of Wall Street projections, it failed to impress investors accustomed to fast-paced growth from the streaming video pioneer.

Shares of Texas Instruments TXN.O sank 4.9% after the chipmaker's downbeat fourth-quarter profit and revenue outlook deepened worries over a drawn-out recovery in the analog chip market as tariff uncertainty plagues the wider industry.

Other heavyweight stocks that dragged on the S&P 500 included Amazon.com AMZN.O and Apple AAPL.O.

But countering the weakness were Microsoft MSFT.O, Nvidia NVDA.O and Alphabet GOOGL.O plus shares of Intuitive Surgical ISRG.O rose more than 16%, providing a strong boost after its Q3 results handily beat expectations.

Among the S&P 500's 11 major sectors consumer discretionary .SPLRCD, down 0.7%, was the biggest loser with heavyweight Tesla TSLA.O falling slightly ahead of its quarterly results due later in the day. The biggest sector gainer was energy .SPNY, which rose 0.9% as oil prices climbed.

Spot gold prices XAU= extended their declines on Wednesday to a near two-week low, following their sharpest single-day drop in five years in Tuesday's session, as investors booked profits ahead of key U.S. inflation data due this week.

Here is your morning snapshot from about 10:15 a.m ET/ 1415 GMT

(Sinéad Carew)

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EARLIER ON LIVE MARKETS:

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WHY US TARIFFS DO NOT SEEM TO HURT CHINA CLICK HERE

SOFTWARE STOCKS: "GUILTY UNTIL PROVEN INNOCENT" CLICK HERE

MINERS' BOUNCE HELPS LONDON, TECH AND LUXURY SLIDE CLICK HERE

BEFORE THE BELL: MIXED START, L'OREAL MISSES, BARCLAYS UPBEAT CLICK HERE

INFLATION WILL WIPE AWAY UK'S RATE-CUT BETS CLICK HERE

Wall Street edges into the red https://fingfx.thomsonreuters.com/gfx/mkt/egpbqzlxqvq/Pasted%20image%201761142533115.png