Major averages lacked direction and bond yields advanced after another campaign of higher rates by the Fed officials. Tesla earnings doubled and IBM lifted annual sales outlook.
Winnebago plunged after the backlog plunged. United Air guided positive outlook. Netflix new accounts jumped. Generac lowered its annual sales outlook.
Stocks extended rally but trimmed morning gains. Goldman Sachs earnings were ahead of expectations. Microsoft confirms recent jobs as the company tackles slower growth.
Major averages soared more than 3% as investors searched for bargains in beaten down sectors. Natural gas dropped to a three-month low on the rising supply and falling demand due to Hurricane Ian.
Stocks trade higher after a wild week of trading and bond yields turn lower. With the start of the earnings season, investors hope corporate results beat the lowered expectations.
Major averages closed down for the week and extended this year's loss. Bond yields rose to new 14-year highs and crossed 4%, adding pressure to rates and currencies worldwide.
JPMorgan Chase increased its loan loss provision in the latest quarter. Citigroup said investment banking revenues plunged 55%. Kroger agreed to acquire Albertsons.
In a stunning reversal, major averages rebounded from morning losses of 3% to close up above 2% on the hopes of peaking inflation. September inflation stayed near the recent highs, despite five rate hikes in the last seven months.
Applied Materials lowered its quarterly sales outlook on new China export restrictions. TSMC reported a surge in revenue, gross margin and profit. Victoria's Secret guided operating earnings towards the upper end of the guidance.
Major averages reversed 3% losses to jump as high as 1.4% on the hopes of peaking inflation despite the core consumer prices inching higher to a new four-decade high.
Wholesale inflation remained elevated as cost of services jumped and inflation seeped deeper in the economy. Consumer price increases are also expected to show wider reach of inflation in the economy on Thursday.
Benchmark indexes extend losses for the fifth day in a row ahead of the inflation report on Wednesday. Crude oil dropped 3% but lumber rebounded to a 3-week high. The British pound faces more headwinds.
