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Dow member American Express Company (AXP $140) reported adjusted Q3 earnings-per-share of $2.47, besting FactSet’s $2.40 estimate, as revenues rose 6.5% year-over-year (y/y) to $13.56 billion, just airbnb stock above the expected $13.52 billion. Looking forward, AXP said it expects full-year EPS to be above its previous guidance of between $9.25 to $9.65 and continues to see revenue growth of 23% to 25%.
Daily market snapshot
Treasury yields were mixed following the WSJ report, and as the economic calendar was quiet today. The yield on the 2-year note declined stock market news today 11 basis points to 4.49%, the yield on the 10-year note was unchanged at 4.22%, and the 30-year bond rate rose 12 bps to 4.34%.
When looking for the best artificial intelligence stocks to buy, identify companies using AI technology to improve products or gain… Oil stocks are doing well, thanks to a recent uptrend in crude prices and expectations for further gains over the winter. Natural gas producers are struggling as natgas futures plunge. ALB stock rebounded almost 14% last https://dotbig.com/markets/stocks/ABNB/ week to 270.01, after plunging nearly 13% in the prior week as some analysts bet on lower lithium prices. Prices for the metal used in EVs have been surging to record highs with supply seen outstripping demand for years to come. Albemarle, no recent IPO, is reaping the benefits from higher-priced contracts while ramping up production over time.
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Markets rebound after promising COVID-19 vaccine trial
The relative strength line is holding near all-time high levels, despite SWAV stock’s retreat from late https://dotbig.com/ August highs. Clearly, there is a slew of economic data between now and the Dec. 14 Fed meeting.
- Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day.
- With Treasury yields backing off weekly highs and the Bank of Japan apparently intervening to prop up the yen, the U.S. dollar fell solidly for the week, mostly on Friday.
- So far, companies are reporting positive results, especially in the banking and tech industries.
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- Market volatility is normal, yet unpredictable and emotional.
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Stocks Finish the Week Higher on Hopes of Slower Fed Rate Hikes
It’s impossible to time the market, and historically speaking, it’s always recovered. Stay the course through the dips and peaks, and remember why you’re investing. The stock market rally attempt jumped to start the week, pared gains then rebounded again on Friday. The 10-year Treasury yield spiked to fresh 14-year highs during the week.
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For now, it’s holding stronger than desired for the Fed, which wants to see the unemployment rate closer to 4%. The Covid-19 pandemic also brought global supply shortages and bottlenecks, plus extra cash injected into the economy through stimulus programs, which spiked inflation in mid-2021. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. IBD Videos Get market updates, educational videos, webinars, and stock analysis. When looking for the best artificial intelligence stocks to buy,… Some biotech, drug, and health services firms continue to show strength, including Merck, Vertex, Cardinal Health , Humana and more.
The U.S. dollar dropped amid a rally in the British pound and the Euro, while crude oil and gold prices increased. Stocks in Europe ended the day mostly lower, with the political chaos surrounding the U.K. In focus, while markets in Asia were mixed, as economic uncertainty continues to weigh on sentiment. Stocks rise as the rally in yields reverses -Equity markets rebounded strongly to end the week after the rally in the 10-year Treasury yield to a fresh 14-year high faded midday, providing some relief. Investors are also paying close attention to earnings reports, with the focus today on the social media company Snap, which reported disappointing results amid a tough advertising environment. Stocks in Europe traded mostly lower as the markets continued to react to yesterday’s sudden resignation of U.K. Disappointing economic data in the nation did not help matters, as the reports joined a host of hot inflation reports this week that upped recession worries and has sapped sentiment.