Earnings season: Exxon and Chevron, two of America’s oil giants, brought in billions in profit. How much profit are we talking? Also, Apple’s earnings rounded out the Big Tech earnings, leaving investors feeling optimistic.
Microsoft and Alphabet Miss In Early Tech Earnings. Analysts were hoping for better. Both stocks fell by more than -7% on Wednesday.
Chinese leader Xi Jinping won an unprecedented third term as the leader of the world’s second-largest economy, breaking with recent convention meant to prevent China’s one-party rule from returning to dictatorship.
Earnings surprises, that means that it’s time to reflect on the health of the markets, and the broader economy as well.
Major banks reported earnings to close the week, marking the beginning of Q3 2022 earnings season.Blackrock reported yesterday, teeing up a slew of bank earnings today from JPMorgan Chase, Wells Fargo, Citigroup, Morgan Stanley, PNC, and U.S. Bancorp.
Last week, Fed leaders and politicians suggested that the Fed’s interest rate hikes might have not had enough time to create impact. The Price Index rose by +0.4% in the month of September, more than double what analysts expected.
Mortgage rates climbed in conjunction with the Fed hikes, which has led to plunging home sales and price gains starting to reverse. In spite of that, housing prices have stayed hot.
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