Goodyear Tire net dropped on rising product costs and strong dollar. Uber Technologies gross monthly booking rose driven by higher demand for transportation and delivery.
The latest JOLT survey showed job openings increase in September and a private survey showed manufacturing growth slowed to the slowest pace since May 2020.
On the final day of October, benchmark indexes eased after strong advances in the previous week. Treasury yields edged higher ahead of the widely anticipated rate hike on Wednesday.
Benchmark indexes jumped after a measure of inflation was steady. Despite the challenging economic fundamentals, indexes closed higher for the third time in the last four weeks.
Benchmark indexes powered ahead on the back of stable inflation and rising earnings from energy companies. Tech stocks eased after Amazon.com forecasted weak fourth quarter sales.
Deckers Outdoor reiterated its full-year outlook. Intel net income plunged and lowered its 2022 sales outlook. Chevron net income more than doubled. Exxon Mobil net income jumped nearly three-fold.
Facebook parent plunged on earnings and future revenue growth worries. Teladoc Health said quarterly loss narrowed. Shopify gross merchandise volumes and payments rose.
U.S. GDP rebounded to 2.6% annual rate after falling for two previous quarters in a row. The rebound was helped by the improvement in net trade and resilient consumer spending and business investment.
European stocks turned lower and bond yields fell after the European Central Bank revised rates and held out for more increase at the next meeting in December.
Benchmark indexes turned volatile after Google and Microsoft confirmed widely anticipated digital advertising revenue slowdown. Treasury bond yields eased but mortgage rates jumped above 7%.
Stocks traded higher and energy prices eased on China-demand worries. Market sentiment was positive after GM, JetBlue, Coca-Cola and UPS reported better-than-expected quarterly results.
