Stock Market News Today

Analysts polled by Reuters estimated on average that crude inventories rose by 200,000 barrels in the week to Oct. 21. “The intraday price swings aside, Brent and WTI futures are stuck in a relatively narrow band since Thursday,” said Vandana Hari, founder of oil market analysis provider Vanda Insights. Last week, the Dow notched its best three-week stretch since November 2020, offering investors a reprieve from the selling pressure that has whipsawed portfolios this year.

stock market news today

Meanwhile, shares were mostly lower Tuesday in Asia as markets remained jittery over the outcome of a Communist Party congress in China, where key reformers were excluded from the highest ranks of ruling party leadership. The rally was kicked off, in part, by a batch of corporate earnings — particularly from banks and airlines — that offered an encouraging outlook on the U.S. economy. Stocks gained on Monday as investors focused on encouraging signs from corporate earnings and hopes that the Federal Reserve would slow the pace of interest-rate increases. Stocks rallied sharply on Tuesday, finding support as investors weighed a stream of earnings and a retreat in Treasury yields. The Dow Jones Industrial Average DJIA, +1.07% rose nearly 340 points, or … Amid the current economic environment of inflation and rising rates, Wall Street bonuses are projected to decrease by 22% this year, according to a new report.

Oil prices rose on Tuesday as the U.S. dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish dotbig economic data from key oil importing economies such as China. Investors digest GM and Coke earnings as well as mixed quarters from Microsoft and Google.

Is The Fed Doing Enough To Bring Down Inflation?

The S & P Small Cap 600 was up 2.2% Tuesday, and 9% for the month of October, versus a gain of around 7% for the S & P 500. Paulsen said another sign of the changing trend is that the spread between high yield debt and Treasurys is also narrower than it was in June. He said by one measure, MA the spread is now at 5.36 basis points, versus 6.05 in June. The S&P has gained 1.63% and moderated its year-to-date losses to 19%. That rally has pushed the index up just out of bear territory. Despite these gains, at least one major bear believes that the index hasn’t bottomed out yet.

  • Home prices in August fell 1.6%, the biggest monthly drop since August, as reported by Case-Shiller.
  • Always try not to trade blind on any stocks, better to be here on updates are here by all members…
  • Bitcoin is trading above $20,000 Tuesday to the highest level since Oct. 6, amid renewed hopes among investors that the Federal Reserve may slow t…
  • Jeremy Siegel thinks the Fed funds rate could ultimately fall to 2% by the end of 2023 as the economy begins to slow down.
  • In the broader markets, the BSE MidCap index added 0.45 per cent, but the BSE SmallCap index slipped 0.35 per cent.
  • Tech M, Maruti Suzuki, L&T, NTPC, Dr Reddy’s Labs, SBI, M&M, and Infosys were the top gainers on the Sensex index.

Get the inside scoop on what traders are talking about — delivered daily to your inbox. It indicates a way to close an interaction, or dismiss a notification. Follow The Wall Street Journal’s full markets coverage. U.S. West Texas Intermediate crude futures for December delivery rose 11 cents to $84.69 per barrel, after a previous decline of 0.6%. One week ago, a gallon of diesel cost $5.304, while a month ago, the cost was $4.905. One year ago, a gallon of diesel nationwide sold for 3.606. For the month, however, the crypto was lower by more than 6.37%.

The Dow Jumps 300 Points As Stocks Post Third Day Of Gains

Stocks then raced higher on Friday after The Wall Street Journal reported that Fed officials are likely to consider the possibility of shifting to smaller interest-rate increases in December. US stocks turned lower early Tuesday after staying in positive territory throughout much of the overnight.

stock market news today

Consumer confidence dropped in October after rising the past few months as inflation — and particularly the cost of gas and groceries — has taken a toll. Tech earnings will impact trading as shares of both Alphabet and Microsoft declines in extended trading following results.

Steve Case Says, ‘in Five Years, There Won’t Even Be A Tech Sector’

Northwestern Mutual Wealth Management Company CIO Brent Schutte joins Yahoo Finance Live anchors Dave Forex Briggs and Seana Smith to weigh in on the Federal Reserve’s next moves fighting inflation and how …

Dow Sinks On The Back Of Junes Hot Inflation Report

News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Analysts estimated stockpiles of gasoline fell by about 1.2 Forex news million barrels and distillate inventories, which include diesel and heating oil, were expected to have dropped by 1.1 million barrels last week. U.S. crude oil inventories are also expected to rise this week, which may limit price gains.

Retail giant Adidas terminated its partnership with rapper Ye, formerly known as Kanye West, following his recent anti-semitic remarks. MARKETS Elon Musk pledges to close Twitter acquisition by Oct. 28 deadline Banks have committed to providing approximately $13 billion in debt financing for Musk’s $54.20 per share buyout of the social media giant. Profits, however, fell short coming in at $2.35 per share or $17.56 billion, less than $20.51 a year-ago and short of Wall Street’s $2.71 per share target. Software giant Microsoft reported revenue of $50.12 billion, higher than the same-period dotbig a year ago and besting Wall Street estimates of $49.6 billion. Yahoo Finance’s Brad Smith and Brian Sozzi discuss a preliminary consumer sentiment reading for October. John Waldron, Goldman Sachs president and COO, joins ‘Power Lunch’ to discuss what different executives are telling him about the state of the economy, where inflation ranks on the list of problematic… U.S. Senate Banking Committee Chair Sherrod Brown on Tuesday urged Federal Reserve Chair Jerome Powell to be careful about tightening monetary policy so much that millions of Americans already sufferi…

He also expects that the 10-year yield may be close to peaking out, as inflation looks like it is starting to roll over. He says the historic correlation between stocks and bonds may be breaking, at least in recent sessions. When yields go up, stocks often react negatively as investors worry about valuations, particularly of high-flying tech and growth shares.

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