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Wall Street closed mostly higher on Tuesday following strong third-quarter 2026 earnings results. A fall in crude oil prices also bolstered market participants’ sentiment. The Dow and the S&P 500 ended in positive territory while the Nasdaq Composite closed marginally lower.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) advanced 1% to close at 52,494.88 after a choppy session. Notably, 22 components of the 30-stock index ended in positive territory, while eight ended in negative territory. At the intraday low, the blue-chip index was down 55 points.
The tech-heavy Nasdaq Composite ended at 26,424.82, declining 0.02% on weak performance by technology bigwigs. At the intraday low, the index was down more than 250 points and at intraday high, the index was up nearly 171 points.
The S&P 500 gained 0.3% to finish at 7,712.57. At the intraday low, the benchmark index was down 0.3%. However, eight out of 11 sectors of the broad-market index ended in negative territory while three finished in positive territory.
The Utilities Select Sector SPDR (XLU) and the Real Estate Select Sector SPDR (XLRE) fell 2% and 1.2%, respectively. On the other hand, the Consumer Discretionary Select Sector SPDR (XLY) and the Information Technology Select Sector SPDR (XLK) rose 1.8% and 1.4%, respectively.
The fear gauge CBOE Volatility Index (VIX) was down 6.1% to 17.31. A total of 15.91 billion shares were traded on Tuesday, lower than the last 20-session average of 17.15 billion. Advancers outnumbered decliners by a 2.04-to-1 ratio on the NYSE. On the Nasdaq, a 2.02-to-1 ratio favored advancing issues.
Fall in Crude Oil Prices
Crude oil prices fell as investors continued to monitor developments in the Middle East geopolitical conflicts. U.S. benchmark – West Texas Intermediate crude futures price – declined1.8% to settle at $101.79 per barrel. The international benchmark – Brent crude futures price – fell 0.7% to settle at $108.79 per barrel.
Strong Third-Quarter Earnings Results
3M Co. (MMM - Free Report) posted third-quarter 2026 adjusted earnings of $2.50 per share, which surpassed the Zacks Consensus Estimate of $2.40. Quarterly, adjusted net revenues of $6.6 billion were in line with the Zacks Consensus Estimate and grew 4.2% year over year.
Northrop Grumman Corp. (NOC - Free Report) reported third-quarter 2026 adjusted earnings of $7.89 per share, which beat the Zacks Consensus Estimate of $7.22. Quarterly total sales of $11.12 billion beat the Zacks Consensus Estimate of $11.06 billion. The top line also improved 6.7% year over year.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly reported that housing starts came in at 1.221 million units in September, significantly below the Zacks Consensus Estimate of 1.308 million units. The metric for August was revised upward to 1.288 million units from 1.275 million units reported earlier.
Building permits came in at 1.4 million units in September, beating the Zacks Consensus Estimate of 1.397 million units. The metric for August was revised upward to 1.403 million units from 1.394 million units reported earlier.
The National Association of REALTORS reported that pending home sales in September tumbled 7.3%, well above the Zacks Consensus Estimate of a drop of 0.3%. In contrast, the metric rose 0.3% in August. Year over year, pending home sales tumbled 11.3% in September.
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Stock Market News for Oct 21, 2026
Wall Street closed mostly higher on Tuesday following strong third-quarter 2026 earnings results. A fall in crude oil prices also bolstered market participants’ sentiment. The Dow and the S&P 500 ended in positive territory while the Nasdaq Composite closed marginally lower.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) advanced 1% to close at 52,494.88 after a choppy session. Notably, 22 components of the 30-stock index ended in positive territory, while eight ended in negative territory. At the intraday low, the blue-chip index was down 55 points.
The tech-heavy Nasdaq Composite ended at 26,424.82, declining 0.02% on weak performance by technology bigwigs. At the intraday low, the index was down more than 250 points and at intraday high, the index was up nearly 171 points.
The S&P 500 gained 0.3% to finish at 7,712.57. At the intraday low, the benchmark index was down 0.3%. However, eight out of 11 sectors of the broad-market index ended in negative territory while three finished in positive territory.
The Utilities Select Sector SPDR (XLU) and the Real Estate Select Sector SPDR (XLRE) fell 2% and 1.2%, respectively. On the other hand, the Consumer Discretionary Select Sector SPDR (XLY) and the Information Technology Select Sector SPDR (XLK) rose 1.8% and 1.4%, respectively.
The fear gauge CBOE Volatility Index (VIX) was down 6.1% to 17.31. A total of 15.91 billion shares were traded on Tuesday, lower than the last 20-session average of 17.15 billion. Advancers outnumbered decliners by a 2.04-to-1 ratio on the NYSE. On the Nasdaq, a 2.02-to-1 ratio favored advancing issues.
Fall in Crude Oil Prices
Crude oil prices fell as investors continued to monitor developments in the Middle East geopolitical conflicts. U.S. benchmark – West Texas Intermediate crude futures price – declined1.8% to settle at $101.79 per barrel. The international benchmark – Brent crude futures price – fell 0.7% to settle at $108.79 per barrel.
Strong Third-Quarter Earnings Results
3M Co. (MMM - Free Report) posted third-quarter 2026 adjusted earnings of $2.50 per share, which surpassed the Zacks Consensus Estimate of $2.40. Quarterly, adjusted net revenues of $6.6 billion were in line with the Zacks Consensus Estimate and grew 4.2% year over year.
Northrop Grumman Corp. (NOC - Free Report) reported third-quarter 2026 adjusted earnings of $7.89 per share, which beat the Zacks Consensus Estimate of $7.22. Quarterly total sales of $11.12 billion beat the Zacks Consensus Estimate of $11.06 billion. The top line also improved 6.7% year over year.
Consequently, stock prices of 3M and Northrop Grumman surged 5.8% and 4.6%, respectively. Both stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Economic Data
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly reported that housing starts came in at 1.221 million units in September, significantly below the Zacks Consensus Estimate of 1.308 million units. The metric for August was revised upward to 1.288 million units from 1.275 million units reported earlier.
Building permits came in at 1.4 million units in September, beating the Zacks Consensus Estimate of 1.397 million units. The metric for August was revised upward to 1.403 million units from 1.394 million units reported earlier.
The National Association of REALTORS reported that pending home sales in September tumbled 7.3%, well above the Zacks Consensus Estimate of a drop of 0.3%. In contrast, the metric rose 0.3% in August. Year over year, pending home sales tumbled 11.3% in September.