Casino stocks dropped on China worries. Walgreens completed the purchase of its remaining stake in CareCentrix. Leggett & Platt lowered its annual outlook. Gig-worker centric companies after the proposed rule change by the Department of Labor.
Rate anxieties, elevated inflation and recession worries dominated stock trading. Treasury bond yields rose and traded near 14-year peak. The dollar continued its advance against all major currencies.
Major averages post weekly advance despite Friday's sell-off. The U.S. dollar gained and crude oil jumped 5% on stronger-than-expected September's jobs report. World markets brace for higher commodities and stronger dollar in the week ahead.
Ambac agreed to settle a case with Bank of America linked to Countrywide Financial prior to its acquisition. AMD lowered its annual outlook. Credit Suisse plans to buyback senior debt.
European markets confront slowing retail sales and industrial output in Germany and elevated home prices in the U.K. Major averages in Europe dropped on Friday but gained in the week.
Major averages dropped more than 3% after September jobs report confirmed labor market strength, fueling rate hike fears. The U.S. dollar advanced and crude oil jumped 4%.
Treasury yields rose and 30-year bond yields inched near a 14-year peak ahead of September jobs report on Friday. The British pound weakened on deeper rating downgrade worries.
Major averages traded sideways as market rally falters on Wall Street and investors await the monthly jobs report Friday. Crude oil lacked momentum despite a large production cut announced by the OPEC and allies.
Stocks on Wall Street rebounded from the lows of the day as investors digested a barrage of reports on the economy, labor market and international trade. Crude oil gained after OPEC+ agreed to cut larger-than-expected production.
Major averages on Wall Street declined after surging for two days in a row. Bond yields rose. UK Prime Minister Truss doubled down on tax and borrow policy, putting more pressure on the pound.
The S&P 500 and the Nasdaq soared more than 3% after investors stepped up and increased stock exposure. Markets in Europe jumped nearly 4% and commodities advanced.
In a broad rally, stocks in all industrial sectors gained. Energy sector jumped nearly 4% and resource, financial services and consumer discretionary sectors jumped more than 3%.
