ADVFN US – Market Content Editor
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U.S. Stocks Finish Volatile Session Firmly Negative After Powell Remarks
After ending Wednesday’s session sharply lower, stocks saw significant volatility over the course of the trading day on Thursday. The major averages swung back and forth across the unchanged line before ending the day firmly in the red. The major averages fell to new lows going into the close of trading. The Dow fell 250.91…
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Crypto This Thursday: Tesla Holds BTC in 3Q, Coinbase Picks Ireland as European Hub, and More
Bitcoin breaks above $28,500 ahead of Powell speech On October 19, Bitcoin (COIN:BTCUSD) displayed a 1.45% increase, reaching $28,734, as investors eagerly awaited a crucial speech from Federal Reserve Chairman Jerome Powell. Uncertainty surrounding US economic policy and high 10-year bond yields kept investors on alert. BTC volatility has persisted, driven by optimistic outlooks, amid speculation that…
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Evidence May Justify a More Stringent monetary Policy, says Powell
Federal Reserve (Fed) Chairman Jerome Powell said on Thursday that evidence of additional strength in the US economy could put the progress of inflation at risk and that the US central bank could tighten its monetary policy further if it remains resilient. . Powell stated, in a speech during an event at the Economic Club…
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Oil Trading Lower as Fears Over an Escalating Middle East Conflict Ease
Oil prices weakened on Thursday morning as concerns about an escalating war in the Middle East eased, although tight supply and low inventories offered support. West Texas Intermediate (CCOM:OILCRUDE) crude for November delivery last fell 17 cents to $87.61 per barrel, while December Brent (CCOM:OILBRENT) crude, the global benchmark , fell $0.80 to $90.70. Prices…
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Thursday’s Wall Street Highlights: Netflix, Tesla, SAP, TSMC, Costco, Rentokil, Nokia, and more
US index futures showed mixed sentiment in early trading on Thursday. This comes amid a rise in long-term interest rates, reaching their highest levels since 2007 due to expectations of sustained high rates. Investors are digesting another batch of quarterly earnings while closely monitoring the evolving conflict between Israel and Hamas, which begins to influence…
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US Jobless Claims Stand At 198,000, Well Below Consensus
For the week ending October 14, the anticipated value for seasonally adjusted initial claims was 198,000, a decrease of 13,000 from the previous week’s revised level. The previous week’s level was revised upward by 2,000, from 209,000 to 211,000. The 4-week moving average was 205,750, a decrease of 1,000 from the previous week’s revised average.…
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American Airlines Reports Quarterly Loss Amid Rising Costs
American Airlines (NASDAQ:AAL) Reports Quarterly Loss Due to Aviation Fuel and New Labor Contracts. The company’s net loss in the third quarter ended on September 30 was $545 million, or 83 cents per share, compared to a profit of $483 million, or 69 cents per share, a year earlier. US airline investors fear travel boom…
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AT&T Raises Annual Free Cash Flow Target and Exceeds Subscriber Addition Estimates
The mobile telecommunications operator AT&T (NYSE:T) raised its annual free cash flow forecast on Thursday as its quarterly subscriber additions exceeded estimates due to promotions and phone upgrades. The company said it expects full-year free cash flow of around $16.5 billion, up from the previous forecast of $16 billion or more. Its value of $5.2…
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Third Quarter Results from Nokia Decline, Cutting Up to 14,000 Jobs; Stock Falls
Nokia Corp’s (NYSE:NOK) shares were losing about 4 percent in morning trading in Helsinki, as well as approximately 3 percent in pre-market activity on the NYSE, after the leading Finnish telecommunications company reported a sharp drop in its third-quarter profit and revenue on Thursday amid ongoing macroeconomic challenges. Additionally, the company maintained its financial outlook…
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TSMC’s Third-Quarter Profit Falls 24.9%, Exceeds Market Expectations
Taiwanese chipmaker TSMC (NYSE:TSM) reported a 24.9% drop in third-quarter net profit on Thursday as global economic problems hit demand for chips used in applications ranging from cars to cell phones and servers, coming off a high base last year. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a key supplier…