Stock Market News: Strike Spares GM; More Red Ink for Shopify
Tuesday morning was relatively quiet on Wall Street as market participants largely continued to focus on earnings results from some prominent companies. From a big-picture perspective, investors are waiting to see if any significant progress comes on the trade front and whether central banks will keep supporting economic growth. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 53 points to 27,144. The S&P 500 (SNPINDEX: ^GSPC) climbed 7 points to 3,046, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) was lower by 19 points to 8,307.
Among some of the better-known names releasing their latest quarterly results, General Motors (NYSE: GM) performed reasonably well but had to deal with headwinds from its ongoing labor strike. Meanwhile, Shopify (NYSE: SHOP) took a hit after it disappointed investors with a surprise loss for the period.
Shares of General Motors climbed 5%, defying naysayers with its third-quarter financial results. Although the automaker has had to deal with a United Auto Workers strike since mid-September, GM's numbers weren't nearly as bad as many had expected.
Source Fool.com
