Oct 25, 2019

The broader stock market hasn't moved much for most of the year

Illustration: Lazaro Gamio/Axios

Big moves in well-known companies like Tesla, Twitter, JPMorgan Chase and Ford have generated headlines this week but the broader market has been little moved. That's been true for the month, the quarter and the majority of the year.

By the numbers: As of market close Thursday, the S&P has risen 0.8% from its closing level a week ago; is up 1.1% so far in October; and up 2.3% since the end of Q2.

  • Excluding the first quarter's rebound from December's historic selloff, the S&P has risen 6.2% this year, according to data from FactSet.
  • Year-to-date the index is up 20.1%.

Watch this space: While a number of companies have posted surprise earnings beats, overall earnings now are expected to have declined 2.3% year-over-year in the quarter, according to IBES data from Refinitiv.

Go deeper

Palantir CEO reflects on work with ICE

Palantir CEO Alex Karp told "Axios on HBO" that there have "absolutely" been moments he wished the company hadn't taken a contract with Immigration and Customs Enforcement (ICE).

  • "Did I suffer? ... I've had some of my favorite employees leave," Karp told "Axios on HBO."

Michigan governor won't apologize for coronavirus lockdown

Michigan Gov. Gretchen Whitmer defended the strictness of her state's coronavirus lockdown in an interview with "Axios on HBO," saying it was necessary — despite the protests that have drawn national attention — because of how quickly the state's cases were rising.

The big picture: Whitmer, who has been a frequent target of President Trump, insisted that she had to act in the face of a lack of federal leadership — and that thousands more people in her state would have died without the lockdown.

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand now has only one novel coronavirus patient in hospital and just 22 active cases in the country, top health official Ashley Bloomfield confirmed at a briefing. He's "confident we have broken the chain of domestic transmission," with no new cases reported for most of May, he added.

By the numbers: Brazil on Monday recorded for the first time more deaths from the novel coronavirus in a single day than the United States, Reuters notes. Brazil reported 807 deaths from COVID-19 in the past 24 hours, compared to 620 in the U.S. for the same period.