NYSE Trader October 28, 2022
Source: NYSE
Here are the most important news investors need to start the trading day:
1. Green October
US stock markets are poised to end a stellar month at the end of October. In fact, the Dow could be on track for its best month since 1976, while the Nasdaq and S&P 500 should also finish in the black. Investors are preparing to analyze the latest wave of earnings this week, as well as the latest announcement from the Federal Reserve. The Fed’s meeting begins on Tuesday, and the central bank is expected to raise rates by another three-quarters of a point in its latest attempt to cool inflation, which has been at a decade high. Market watchers will be looking for signals from Chairman Jerome Powell that the Fed may begin to ease the pedal a bit in the coming months. Read live market news here.
More from CNBC PRO: How to trade for the last half of the profit season
2. Terrible time for technology
It’s Halloween, so it’s a good time to dwell on the scary things in life, like haunted housesof John Carpenter horror movies and a recent speech by Big tech stocks. US stock indexes rose despite a lackluster performance by technology companies. Amazon, Microsoftthe father of Google Alphabet and the father of Facebook Meta – especially Meta – had a tough time for everyone last week as their earnings and recommendations were generally soft. Only an apple did everything well – on Friday the stock was its own best day since 2020. All in all, poor performance, a slowing advertising market, lower demand for PCs, and declining market presence are causing Silicon Valley to run cold.
3. Welcome to Elon Musk’s Twitter
In this photo illustration, an image of Elon Musk is displayed on a computer screen and the Twitter logo on a mobile phone in Ankara, Turkey, on October 6, 2022.
Muhammad Selim Karkutata | Anadolu Agency | Getty Images
Days after closing the $44 billion purchase deal TwitterElon Musk gratuitously tweeted, an anti-LGBTQ conspiracy theory, from a website known to post false information about an attack on Paul, the husband of House Speaker Nancy Pelosi. Musk, who has more than 112 million Twitter followers, linked to the site in a Sunday morning response to former Secretary of State Hillary Clinton, who criticized the Republican Party for spreading conspiracy theories like those attacking Pelosi online. The billionaire CEO of Tesla and SpaceX eventually took down his tweet Sunday afternoon, but not before it had more than 24,000 retweets and 86,000 likes, according to NBC News. Musk’s critics, worried that Twitter’s content moderation would suffer after his takeover, pointed to the incident as evidence that their fears were coming true.
Read more: GM suspends paid advertising on Twitter after Musk takeover
4. Kyiv is under attack
Workers walk as they repair equipment near power lines destroyed after a missile struck a power plant, in an undisclosed location in Ukraine, on October 27, 2022, during Russia’s invasion of Ukraine.
Siarhei Supinsky | AFP | Getty Images
Russian missiles struck Ukraine’s capital, Kiev, on Monday morning as the Kremlin sought to further cripple Ukraine’s utility infrastructure. “There is no water supply in some areas,” Kyiv Mayor Vitaly Klitschko said. Russian forces have also struck targets in other parts of Ukraine as they are believed to be disrupting daily life across the country. “The Russians struck the energy infrastructure facilities in Dnieper and Pavlograd. Serious damage was recorded. All services are working on the spot,” said the regional Ukrainian military officer. Read live war news here.
5. No deferment in the euro zone
The headquarters of the European Central Bank (ECB) are pictured before a press conference of the bank’s governing council after their meeting in Frankfurt am Main, western Germany, September 8, 2022. The European Central Bank’s recent rate hike of 75 basis points The bank will not be alone increase in the short term, but the next ones will not be so high, said Edward Scikluna, a member of the ECB.
Daniel Roland | Afp | Getty Images
Inflation cannot be avoided in the euro zone. The European Statistical Office published preliminary figures on Monday, according to which inflation rose 10.7% per annum in October, which would be a record for the 19-member bloc. Russia’s war in Ukraine is the main catalyst for the rapid and aggressive rise in prices, with energy prices jumping 41.9% year-on-year, while food, alcohol and tobacco prices rose 13.1% year-on-year. calculations. Inflation is high everywhere, but it is especially terrible in Estonia, Latvia and Lithuania, where prices have risen by more than 20% compared to the same period last year. The reading will put further pressure on the European Central Bank, which raised rates by three-quarters of a point last week – and has promised more hikes.
– CNBC’s Jesse Pound, Jordan Naveth, Holly Elite and Sylvia Amaro contributed to this report.
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