Major averages extend gains for the third day in a row ahead of midterm election results. Crude oil eased 3% and natural gas plunged 10% on China demand worries. Bond yields remained elevated.
Take Two Interactive plunged on weaker outlook for the next quarter and revised higher fiscal year loss. Norwegian Cruise estimated rising travel demand. Tesla announced a voluntary recall. Tripadvisor fell on guidance.
Apple said China's Covid-19 restrictions have impacted iPhone production. Palantir dropped on an earnings miss. Berkshire Hathaway operating earnings rose. Carvana extended recent declines.
After a week of twists and turns, benchmark indexes trimmed week's losses and Treasury bond yields inched closer to 5.0%. Elevated energy prices, rapidly rising rates and looming recession worries are overshadowing global market sentiment.
Stocks advanced after non-farm payrolls rose more-than-expected highlighting labor market strength but jobless rate rose from the 29-month low as more people initiated job search.
Stocks declined for the fourth day in a row and treasury bond yields inched closer to a 15-year high as central banks in the U.S., U.K. and Norway lifted rates.
Global bond market sell-off accelerated after the Federal Reserve quashed hopes of rate-pause in the near future. Tech stocks led the decliners on Wall Street.
The Federal Reserve lifted its key lending rate range by 75 basis points and suggested a language that may signal a policy shift to slower future rate hikes.
Rogers plunged after the engineering materials company ended its merger agreement with DuPont. CVS earnings improved excluding opioid settlement. Estee Lauder lowered outlook on strong dollar and persistent China travel restrictions.
Stocks eased and bond yields were on hold ahead of the widely anticipated rate increase. Service sector led the job growth in the private sector in October.
World markets await the Federal Reserve rate-path direction and views on the inner working of the U.S. economy and inflation drivers. Investors are also looking for more clues on the Fed's plan to shrink its balance sheet.
