Breaking News
Nov 5, 2022
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The U.S. benchmark indexes trimmed weekly losses to between 2% and 6% but rate path and slowdown worries dominated market sentiment.
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European markets extended weekly gains on the back of earnings optimism despite the deepening energy crisis and rising rates.
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Non-farm payrolls increased 261,000 in October from the revised 315,000 in September, the Department of Labor reported.
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The Bank of England lifted its key lending rate by 75 basis points to 3.0%, the largest rate increase in 33 years.
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Norges Bank lifted its key rate by 25 basis points to 2.5% and said rates will keep rising citing inflation above its target range.
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Starbucks said fiscal fourth quarter results were negatively impacted by travel restrictions in China but North America comparable sales jumped 11%.
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Coinbase swung to a quarterly loss of $545 million after revenue plunged more than 50% to $590 million as cryptocurrencies transactions fall.
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Twilio plunged 11% after third quarter revenue growth slowed to 33% and the company guided fourth quarter revenue growth between 18% and 19%.
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Carvana plunged 8% after the online used car retailer said total sales fell 3% and vehicle sales dropped 8% and net loss margin increased to 15%.
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Doordash said Sept quarter orders rose 27% to 439 million, gross order volume jumped 30% to $13.5 billion and revenues gained 33% to $1.7 billion.
Nov 4, 2022
Nov 3, 2022