Stock market slump, tribute before Halloween?

U.S stock market is in trouble today as selling continues to overshadow Wednesday session. Dow Jones Industrial Averages down 329.94 points (-1.31%), Nasdaq composite down 224.36 points (-3.02%), S&P 500 down 53.72 points (-1.96%).

Combination of latest earnings news which is lower than expected and weak home sales become the trigger of today slump. New home sales released at 553k vs. 627k expectation which is much lower. October situation is grim and might be the starting point for traders Halloween.

Notable Earnings & Corporate reports

AT&T (NYSE: T) reported earnings per share of $0.90 vs. $0.94 expectation. Revenue comes out at $45.7 billion vs. $45.4 billion expectation. Despite more than expected subscribers, the boost could not help the company earnings result. AT&T currently down 7.09%

United Parcel Services (NYSE: UPS) meets earnings expectation but suffer on trade wars. The company posted earnings per share of $1.82. Revenue comes out at $17.44 billion vs. $17.46 billion expectation. Share prices down 5.28% as the company attributed the disappointing result to U.S-China trade war situation.

Boeing (NYSE: BA) up 2.72% on earnings beat and rising full year guidance. Earnings result come out better than expected at $3.58 vs. $3.45. Revenue comes out at $25.15 billion vs. analyst expectation $23.72 billion.

Other markets

Gold down $2.80 (-0.23%) to $1,234.00, Crude oil down $0.09 (-0.14%) to $66.34. U.S dollar index up 0.46 (+0.48%) to 96.41

Asian stock market closed mixed. Nikkei up 80.40 points (+0.37%) to 22,091.18, Shanghai Composite up 8.47 points (+0.33%) to 2,603.30, Australia ASX closed for the day.

European stock market takes U.S cue and slightly lower. DAX Germany down 0.73%, FTSE UK up 0.11%, and Euro STOXX 600 down 0.22%.