Microsoft (MSFT) reported its quarterly earnings on Tuesday, October 24, 2023, after the closing bell, beating analysts’ expectations on revenue and earnings per share. The tech giant announced revenue of $56.5 billion in the quarter, above consensus estimates of $54.5 billion. Adjusted earnings per share (EPS) topped out at $2.99...
Stocks Rise as Investors Await Big Tech Earnings
Stocks gained ground on Tuesday amid a revival in the benchmark 10-year Treasury yield, as investors awaited an avalanche of earnings from tech giants and other major companies. The Dow Jones Industrial Average (^DJI) popped more than 0.6%, the S&P 500 (^GSPC) rose above 0.7%, and the Nasdaq Composite (^IXIC)...
Stocks fall slightly amid Powell’s remarks on inflation and bond yield surge
The U.S. stock market closed slightly lower on Thursday as investors weighed the comments from Federal Reserve Chair Jerome Powell on inflation and the economy, while also monitoring the rise in the 10-year Treasury yield to near 5%. Powell says inflation is still too high and growth may slow In...
China’s Economy Outperforms Expectations in Q3 Amid Recovery
China’s economy grew by 4.9% year-on-year in the third quarter of 2023, surpassing market expectations and accelerating from the previous quarter, according to data released by the National Bureau of Statistics (NBS) on Wednesday. The strong performance reflects the continued recovery of the world’s second-largest economy from the impact of...
How rising oil prices are boosting European stocks, according to Bank of America
Oil prices have been on a strong upward trend in recent months, reaching their highest levels since 2014. The main drivers behind this rally are a global supply crunch and a robust demand recovery as the world economy rebounds from the pandemic. The supply crunch is caused by several factors,...