The Commerce Department’s advance report for September revealed that U.S. consumers defied expectations by showing robust spending, with retail sales rising 0.7%, exceeding the estimated 0.3%. Excluding auto sales, the increase was 0.6%, far surpassing the projected 0.2%. The control group, a measure used in GDP calculations that strips out various categories, also rose by… Continue reading Retail sales rose 0.7% in September, much stronger than estimate

Goldman Sachs reported third-quarter earnings and revenue that surpassed analysts’ expectations, largely due to stronger-than-expected trading revenue. Here are the key points from the article: For the full original article on CNBC, please click here: https://www.cnbc.com/2023/10/17/goldman-sachs-gs-earnings-3q-2023.html

Bank of America has exceeded third-quarter profit expectations, reporting a 10% increase in profit to $7.8 billion, equivalent to 90 cents per share, compared to $7.1 billion, or 81 cents per share, in the previous year. The company’s revenue also rose by 2.9% to $25.32 billion, slightly surpassing the expected estimate. Notably, the bank’s interest… Continue reading Bank of America tops profit estimates on better-than-expected interest income

Stocks experienced a strong rally on Monday as investors eagerly anticipated a wave of corporate earnings reports, showing resilience despite a rise in Treasury yields. The Dow Jones Industrial Average surged 352 points (1%), while the S&P 500 and Nasdaq Composite also climbed 1%. Companies like Nike and Intel played a significant role in propelling… Continue reading Stocks rally to start the week, Dow up more than 300 points: Live updates

Stocks saw an increase on Monday as investors prepared for a wave of corporate earnings reports and monitored Treasury yields. The Dow Jones Industrial Average rose by 250 points (0.6%), the S&P 500 climbed by 0.7%, and the Nasdaq Composite advanced by 0.6%. Tech giants like Intel, Microsoft, and Cisco led the gains in the… Continue reading Dow climbs 200 points as busy earnings week kicks off: Live updates

Israel is anticipated to launch a major ground offensive into Gaza to target the Palestinian militant group Hamas following coordinated attacks on southern Israeli border towns. In response to these attacks, Israel has urged 1.1 million residents in northern Gaza to evacuate south in preparation for a large-scale ground invasion, but the United Nations has… Continue reading ‘A very unique battle’: How geography could shape Israel’s expected ground offensive in Gaza

The article discusses Americans’ perceptions of wealth and their attitudes toward achieving it. A recent survey conducted by LendingTree reveals that nearly 60% of Americans believe they will never be wealthy, and only 20% currently feel wealthy. Interestingly, wealth, for most respondents, is defined more by financial security and comfort than by specific financial milestones… Continue reading 45% of Americans say this is the best way to build wealth—but only a fraction are doing it

The article discusses the escalating conflict in the Gaza Strip and the potential for it to spread regionally, with a focus on the involvement of the Lebanese militant group Hezbollah. The exchange of fire between Hezbollah and Israeli armed forces in northern Israel has raised concerns that the conflict could expand to include other regional… Continue reading Iran-backed Hezbollah joining Israel-Hamas conflict would be a ‘game-changer’

Citigroup’s third-quarter financial results have showcased strong growth in its institutional and personal banking sectors, surpassing Wall Street’s expectations and generating higher-than-anticipated revenue. Here’s a comprehensive analysis of the key points and implications of Citigroup’s Q3 report: 1. Earnings and Revenue Beat Expectations: 2. Strong Revenue and Net Income Growth: 3. Performance in Key Business… Continue reading Citigroup stock jumps on better-than-expected revenue for the third quarter

JPMorgan Chase reported third-quarter financial results that exceeded analysts’ expectations, demonstrating strong performance in both profit and revenue. The bank’s earnings per share stood at $4.33, while revenue reached $40.69 billion, surpassing the LSEG estimate of $39.63 billion. JPMorgan’s profit saw a notable 35% increase, reaching $13.15 billion or $4.33 per share, although it included… Continue reading JPMorgan Chase tops profit expectations as bank benefits from higher rates, benign credit

Comcast and Disney have taken the next step in their ongoing process of determining the future ownership of Hulu, a popular streaming service. Comcast, which owns a one-third stake in Hulu, has hired Morgan Stanley, while Disney, with a two-thirds ownership, has enlisted JPMorgan Chase to assess the fair value of Hulu. This move is… Continue reading Comcast, Disney hire investment banks to value Hulu as sale process makes progress

Delta Air Lines reported a nearly 60% increase in profit for the third quarter, driven by strong travel demand that persisted through the summer, especially for international trips. However, the airline revised its full-year earnings forecast to the lower end of its previous estimate due to a surge in fuel prices. Delta now anticipates adjusted… Continue reading Delta Air Lines profit jumps almost 60% after strong summer