Dow Jones Now Slumps as FAANG Stocks Prepare to Report Earnings

The Dow Jones now is struggling to rebound as four mega-cap stocks are reporting earnings. Today could be an important pivot point after the worst sell-off in several months.

Look for earnings reports from Apple Inc. (NASDAQ: AAPL), Amazon.com Inc. (NASDAQ: AMZN), Alphabet Inc. (NASADAQ: GOOGL), and Facebook Inc. (NASDAQ: FB).

Before we dive into the latest stories and more, here are the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:

Index	Previous Close	Point Change	Percentage Change
Dow Jones	26,519.95	-582.19	-1.63
S&P 500	3,26.66	-1.63	-1.63
Nasdaq	11,004.87	-226.03	-226.03

Now here's a closer look at what I'm following today. These are the most important market events and stocks.

Top Stock Market Stories for Thursday

• On Thursday, we're looking for an update on U.S. GDP. The figure could be historic. Economists anticipate that Q3 growth will hit an annualized basis of 32%. While that figure could be eye-popping, let's remember that the economy still has a very long way to go before it fully recovers. Investors are going to also want to pay attention to the weekly jobless claims. This week, just 751,000 Americans filed for unemployment. That is the lowest figure since March.

• Johns Hopkins University reported a third consecutive day of increasing COVID-19 cases across the United States. The average number of cases over seven days has nearly touched 72,000, which puts the contraction rate at a new record. That figure represents about a 21% jump from the previous week.
• Last, we are just a few days away from the election. Already, 77 million people have voted. Roughly 50.8 million people have mailed in their votes, and another 26.5 million people have voted in person. This could be one of the highest turnouts in a century.

Stocks to Watch Today

• Shares of Comcast Corp. (NASDAQ: CMCSA) added 2.5% after the company topped Wall Street earnings expectations before the bell. The firm reported earnings per share of $0.65. That figure beat expectations by $0.13. Revenue also came in higher than expectations thanks to the addition of 663,000 new customers during the quarter.
• Shares of Visa Corp. (NYSE: V) were off 1.3% after the company beat earnings expectations before the bell. The firm reported a profit decline of 23%.
• Shares of Moderna Inc. (NASDAQ: MRNA) are in focus as the company prepares to launch its global COVID-19 vaccine. The company said that it has taken in $1.1 billion in deposits from global governments. The firm said that it has supply agreements with North America, the Middle East, and other areas around the globe. "We are actively preparing for the launch of mRNA-1273 and we have signed a number of supply agreements with governments around the world," Moderna CEO Stephane Bancel said in a press release. "Moderna is committed to the highest data quality standards and rigorous scientific research as we continue to work with regulators to advance mRNA-1273."

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