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.
Meta, parent of Facebook, dropped after the company reported second quarterly sales decline in a row and offered a weak guidance. Raymond James quarterly revenues rose 5%. Morningstar swung to a quarterly loss. Ford reported larger-than-expected loss.
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%.
Parent of Google missed sales and earnings outlook. Microsoft earnings dropped on currency headwinds. Chipotle Mexican Grill earnings and revenues rose more-than-expected. Visa Inc revenues and earnings rose on higher payment volume and transactions.
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.
Major averages build on gains of the last week and bond yields stayed elevated on Monday. Energy prices eased and natural gas plunged to seven-month low.
Major averages extended weekly gains on the hopes that the Fed may moderate rate hikes and avoid a recession. Bond yields stayed near 14-year highs but energy prices softened.
Stocks on Wall Street advanced but yields stayed near 14-year highs as investors speculated future rate hikes may be slower than anticipated. The latest batch of mixed-earnings also sapped market sentiment.
Benchmark indexes closed down after persistent rate path and economic slowdown worries overshadowed corporate earnings. The rising U.S. dollar continue to wreak havoc around the world.
Benchmark indexes traded higher supported by a fresh batch of positive corporate earnings. Crude oil advanced but natural gas dropped to a three-month low.
