Benchmark indexes advanced after the second measure of inflation showed a slight cooling. The lighter-than-expected wholesale inflation follows the declining pace of consumer price inflation released last week.
Benchmark indexes sold-off in the final hour of trading and large tech stocks led the decliners. Bond yields rebounded after Fed officials reaffirm central bank's commitment in fighting inflation.
After a week of surge, stocks lacked direction on Wall Street and debate on the future rate path raged on. Treasury yields edged up higher and the dollar inched lower.
World markets extended weekly gains in Friday's trading and major indexes advanced for the second day in a row on the hopes of slower future interest rate hikes. The collapse of FTX reverberates around the world with billions of losses.
Beazer Homes said gross margin rose on higher average home sale price. Doximity launched a stock repurchase plan. Duolingo offered a cautious outlook. LegalZoom quarterly loss shrank.
Major averages soared after inflation moderated in October and raised the prospects of slower interest rate hikes. The dollar eased and gold advanced. Treasury yields fell for short and long durations.
ZipRecruiter expanded its stock repurchase program. Tapestry lowered its annual outlook. Rivian reported quarterly loss shrank and reiterated its annual production outlook.
Consumer inflation eased in October on a monthly and annual basis but stayed elevated as rapid price increase spread to the cost of housing and services with no sign of abating.
Major averages dropped more than 2% after Republican lawmakers anticipated broader sweep of the Senate and the House failed short of expectations. Crude oil dropped 3% and Treasury yields edged lower.
Disney forecasted streaming services to become profitable in the current fiscal year after losses surged. D R Horton new home backlog and orders rose despite rising cancellation rates.
Republicans expected the Red wave to sweep midterm elections but voters disagreed. Stocks dropped. Energy prices extended losses for the third day. Meta Platforms began mass layoffs.
Major averages extend gains for the third day in a row ahead of midterm election results. Crude oil eased 3% and natural gas plunged 10% on China demand worries. Bond yields remained elevated.
