Retail sales unexpectedly gain in September as consumers keep spending

Retail sales unexpectedly gain in September as consumers keep spending

October 16, 2021 Joan Grumbles 0

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 crushes analysts’ estimates on strong investment banking and trading results

Goldman Sachs crushes analysts’ estimates on strong investment banking and trading results

October 16, 2021 Clora Pecora 0

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…

Fatal stabbing of British lawmaker David Amess called terrorist incident by UK police

Fatal stabbing of British lawmaker David Amess called terrorist incident by UK police

October 16, 2021 Michele Byron 0

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…

Biden says DOJ should prosecute those who defy Jan. 6 committee subpoenas

Biden says DOJ should prosecute those who defy Jan. 6 committee subpoenas

October 16, 2021 Randy Paris 0

(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…

Dow jumps more than 400 points after better-than-expected earnings reports

Dow jumps more than 400 points after better-than-expected earnings reports

October 15, 2021 Becki Center 0

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…