Month: October 2021

U.S. stocks rose Friday as better-than-expected third-quarter earnings reports boosted the Dow Jones Industrial Average to its best weekly performance since June.The Dow Jones Industrial Average gained 382.20 points, or about 1.1%, to 35,294.76. The S&P 500 added roughly 0.8% at 4,471.37, and the Nasdaq Composite rose 0.5% to 14,897.34.The three major indexes closed the…

Consumers spent at a much faster pace than expected in September, defying expectations for a pullback amid pervasive supply chain problems, the Census Bureau reported Friday.Retail sales for the month increased by 0.7%, against the Dow Jones estimate for a decline of 0.2%. Excluding auto-related sales, the number rose 0.8%, better than the 0.5% forecast.Compared…

Goldman Sachs posted Friday third-quarter results that exceeded analysts’ expectations, as investment banking revenue surged nearly 90%, and the bank reaped record fees from equities financing.Here are the numbers:Earnings: $14.93 a share vs. $10.18 consensus estimate, according to RefinitivRevenue: $13.61 billion vs. $11.68 billion consensus estimateProfit at the bank surged 63% to $5.28 billion, or…

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Leigh-on-Sea, England (CNN)Counter-terrorism police in the United Kingdom have formally declared the fatal stabbing of British lawmaker David Amess an act of terrorism.”The early investigation has revealed a potential motivation linked to Islamist extremism,” according to a statement from the Metropolitan Police overnight.Authorities said they believed the suspect acted alone and they are “not seeking…

(CNN)President Joe Biden on Friday said those who refuse subpoenas from the House select committee investigating the January 6 riot at the US Capitol should be prosecuted by the Justice Department.Asked by CNN’s Kaitlan Collins what his message is to those who refuse subpoenas from the panel, Biden said, “I hope that the committee goes…

U.S. stocks rallied Thursday after better-than-expected earnings reports from Walgreens Boots Alliance, UnitedHealth, Bank of America and other major companies.The S&P 500 rose 1.7% to 4,438.26 in its biggest jump since March. The Dow Jones Industrial Average jumped 534.75 points, or 1.6%, to 34,912.56. The Nasdaq Composite added 1.7% at 14,823.43.The three averages are now…

Pete Cannito, Redwire Corporation at the New York Stock Exchange, September 8, 2021.Source: NYSEPrivate investment in space companies hit $3.9 billion in the third quarter, propelling this year to a new annual record of $10.3 billion, according to a report this week by New York-based firm Space Capital.”This quarter sets a new record for yearly…

Morgan Stanley on Thursday topped expectations for third-quarter profit and revenue as the firm posted record results in investment banking and asset management.Here are the numbers:Earnings: $1.98 a share vs the $1.68 a share estimate of analysts surveyed RefinitivRevenue: $14.75 billion vs. the $14 billion estimateRevenue and net income jumped more than 25% from a…