The S&P 500 telecom services sector tumbled 2.2%, the biggest loser among the 11 major S&P 500 indexes. The mostly dour reports could dent the chances of S&P 500 companies having snapped a four-quarter earnings recession in the third quarter. About 80% of the 70 S&P 500 companies that had reported results until Wednesday beat profit estimates. But, Thursday's round of earnings reports could lower the estimated increase. The S&P 500 index showed three new 52-week highs and two new lows, while the Nasdaq recorded 25 new highs and 22 new lows.

Source: The Edge Markets October 20, 2016 14:48 UTC