Stocks posted with modest gains, with investors reluctant to make major moves a day ahead of the U.S. presidential election. Oil and gold gained modestly, the U.S. dollar also edged up against the euro. The ISM’s nonmanufacturing activity index fell to 54.2 in October from 55.1 the month before, but still above 50. Apple gained 1.36% on reports that the co. sold 3 million units of its iPad mini and iPad 4 during the first weekend. Also, Time Warner Cable fell 6.36% on disappointing earnings. Netflix climbed 1.74% after the co. instituted a shareholder-rights plan to protect against a possible hostile takeover. Meanwhile, 75% of S&P 500 companies reported earnings, 63% topped earning expectations, but just 45% reported sales that beat estimates. Looking at guidance, 57% of the companies reporting third-quarter results have either lowered their fourth-quarter forecasts, fourth-quarter estimates were down 3.2% on average.
