Finance
10-Year Treasury Yield Falls Below 5% for First Time Since September as AI Stocks Slide; Brent Oil Settles at $113.17
Bond prices jumped on Thursday, Oct. 22, after Meta's earnings set off a tech selloff. Reuters put market pricing for a December Fed rate hike at about 85%, though other trackers showed lower odds, even as a Middle East flare-up sent oil to its highest close since May.
FAA Certifies Boeing 737 Max 10, the Largest Max Model, With 1,555 Orders Waiting
The U.S. regulator approved the jet on Oct. 20, 2026, more than five years after its first flight. Boeing says deliveries begin in the coming months, but some reports place the first deliveries in 2027.
Netflix Third-Quarter Profit Tops Estimates; Company Lowers 2026 Ad Revenue Forecast to About $2.7 Billion From $3 Billion, and Shares Fall About 6% Premarket
Netflix earned 87 cents a share against an expected 82 cents on $12.87 billion in revenue, but its fourth-quarter revenue and profit forecasts came in below analyst estimates the same week the company cut about 1,000 jobs and replaced its top content executive.
SpaceX Reports Q3 Revenue of $14.6 Billion, Up 161%, and $4.4 Billion Net Income; Musk Says SpaceX and Tesla Boards Formed Committees to Study a Merger
SpaceX shares rose roughly 9% to 10% in premarket trading. Musk says he is recused from the talks, the committees have not agreed on terms, and a Tesla deal would need votes from a majority of all outstanding Tesla shares.
Kospi Closes Down 3.73% and Nikkei About 1.3% on AI-Spending Doubts as Brent Trades Near $110 and Traders Price a December Fed Hike
SK Hynix fell 4.23% in Seoul on Tuesday, to its lowest close since April. On Monday, the S&P 500 rose 0.41% to 7,690.73, ahead of the Federal Reserve's Oct. 27-28 meeting.
U.S. Stock Futures Rise as AI Shares Rebound From Biggest Weekly Drop Since Late June; Brent Falls to About $107 and 10-Year Yield to 5.085%
On Sunday, Treasury Secretary Scott Bessent called September's 3.7% inflation an 'energy shock' tied to the Iran war. Fed-funds futures show a hold at the Oct. 27-28 meeting as most likely, with an estimated 78% to 84% chance depending on the reading. They also show close to a 90% chance of a rate hike by December.
Nasdaq Falls 2.1% Friday and 4.5% for the Week, Its Worst Week Since June; Chip Index Ends Week Down 11.4%
On Friday the S&P 500 fell 1.1% to 7,659.44 and CoreWeave dropped nearly 12%. News outlets pointed to worries about AI-related debt, a Chinese memory-chip rival, high oil prices and interest rates. The Dow finished the week up 0.7%.
Fed Chair Warsh Declines to Signal October Rate Move as Brent Oil Touches $110, First Time Since May
Speaking in Bangkok a month after the Fed's first rate hike since 2023, Warsh said he does not prejudge meetings, while futures traders priced roughly an 82% to 85% chance the Fed holds rates steady on Oct. 27-28.
Treasury and OCC Fine Bank of America $1.21 Billion Over Money-Laundering and Sanctions Failures; Shares Fall About 5% After Third-Quarter Revenue Misses Estimates
FinCEN set a $1.2 billion penalty, the OCC set a record $750 million penalty that counts toward it, and OFAC settled for $11.6 million on Oct. 13. A day later the bank reported quarterly revenue below Wall Street forecasts.
Social Security Sets 3.6% Cost-of-Living Increase for 2027, Largest Since 2023
The raise adds about $75 a month to the average retired worker's check starting in January; advocates say it trails what older Americans actually pay, and fiscal watchdogs say it adds to the program's long-term gap.
S&P 500 Falls 1.1% and Nasdaq 1.9% After September CPI Shows 3.7% Annual Inflation; Traders Raise Odds of an October Fed Hike
Gasoline rose 9.1% in a month and core prices beat forecasts by a tenth of a point. Tech and AI-infrastructure stocks led Wednesday's decline, while health care and consumer staples rose.
JPMorgan Reports Third-Quarter EPS of $5.57, Below Analyst Estimates, as Bond-Trading Revenue Comes In at $5.37 Billion; Shares Down About 3.5% Premarket
The largest U.S. bank earned $15.31 billion. Its fixed-income trading desk brought in less than the roughly $6 billion analysts expected, and the size of the revenue miss depends on which of the bank's two revenue figures is used. Goldman Sachs, Citigroup and Wells Fargo also reported Tuesday.