U.S. Stocks Lack Momentum as Earnings Pour In; Precious Metals' Brutal Two-Day Sell-Off Continues

Barry Adams
22 Oct, 2025
New York City

Benchmark indexes on Wall Street struggled to advance, following strong gains in the previous session. 

The S&P 500 index increased 0.1%, and the Nasdaq Composite decreased 0.1%, and they hovered near record highs ahead of key earnings reports.

Market indexes traded near record highs despite worries about the regional bank's exposure to non-bank finance lending. 

Investors are hopeful that corporate earnings are likely to stay ahead of market expectations, despite Trump's tariff whiplash and ongoing macroeconomic uncertainties. 

For now, investors have shrugged off the prolonged federal government shutdown, but economists are worried that the U.S. economy is likely to shrink amid contracting international trade, a shrinking labor pool, and a steady increase in already elevated federal government debt. 

Gold dropped 1.1% to $4,076 an ounce and extended its two-day losses to over 8% as traders booked profit.

 

U.S. Stock Movers 

Netflix Inc. dropped 7% to $1,154.23 after the streaming services provider reported mixed third-quarter results. 

Revenue in the period increased to $11.5 billion from $9.8 billion, net income advanced to $2.5 billion from $2.4 billion, and diluted earnings per share rose to $5.87 from $5.40 a year ago. 

The streaming service provider attributed weaker-than-estimated earnings to the ongoing $619 million tax expense with the Brazilian tax department. 

Western Alliance Bancorp rose 2.4% to $78.06 after the regional bank reported better-than-expected third-quarter earnings. 

Net revenue increased 10.9% to $938.2 million, net income advanced 9.5% to $260.5 million from $237.8 million, and diluted earnings per share rose 10.1% to $2.28 from $2.07 a year ago. 

Coca-Cola Company jumped 4% to $71.22, and the beverage company reported better-than-expected revenue and earnings in the third quarter. 

The resilient demand for zero-sugar beverages and Fairlife, ultra-filtered milk, in the U.S. supported the 1% increase in global unit sales, while the price rose 6% from a year ago. 

Revenue in the period increased 5% to $12.5 billion from $11.8 billion, net income advanced to $3.8 billion from $2.9 billion, and diluted earnings per share rose to 86 cents from 66 cents a year ago. 

The company reiterated adjusted revenue growth between 5% and 6%, and comparable adjusted earnings per share to increase 3% to $2.88. 

The Atlanta-based beverage company is set to launch the U.S. launch of the 7.5-ounce single-serve sugarcane drink this fall, priced at less than $2 in convenience stores.