Real-time updates of stock market news: stocks shake as earnings come in, yields pre-charged

U.S. stocks continued a streak of uneven trading on Thursday as companies’ third-quarter financial results continued to plummet against the backdrop of continued growth concerns on Wall Street. The S&P 500 (^GSPC) was down about 0.2% in the early afternoon, while the Dow Jones Industrial Average (^DJI) rose 50 points by the same margin. The technology-focused Nasdaq Composite Index (^IXIC) was 0.1% higher than the breakeven point. Meanwhile, yields on Treasury bonds hit a multi-year high for the first time since 2007, with the yield-sensitive two-year government bond exceeding 4.6% and the 10-year government bond well above the last seen level in 2008 of 4.1%. Interest from US investors who resigned Thursday morning after the Leeds Truss administration announced a failed economic package, including a tax cut plan that shook financial markets, is again drawing attention. The pound strengthened and British bonds rose on news that Truss is set to step down by the end of next week. Returning to the United States, the Department of Labor reported an unexpected decrease in the number of Americans applying for unemployment insurance during the week ending October 15. Claims fell to 214,000 from last week’s revised 226,000, a sign that the labor market remains tight despite efforts to contain the economy to quell inflation. Economists surveyed by Bloomberg expected a total of 230,000 applications. “The decline in initial jobless claims supports our view that the increase over the past two weeks has been a noise rather than a signal from seasonal adjustment problems,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics. note. Mike Loewengart, Head of Model Portfolio Construction at Morgan Stanley’s Global Investment Office, said, “A low claim doesn’t guarantee a high salary. First, when asking for flexibility, companies reduce the total number of new hires before laying off existing employees.” . He also said the numbers may not be enough to divert investors from earnings, but strong employment data and hot inflation figures over the next few weeks will boost the forecast for a 75 basis point rate hike through the end of the year. The story continues. In an email commentary, Loewengart said, “We expect volatility to continue to rise as the earnings season is in full swing as investors analyze with additional eyes for guidance. AT&T Inc. (T) and American Airlines (AAL) were the latest names on that note. Better-than-expected third-quarter earnings report by analysts asserts confidence in gaining new subscribers and providing previously estimated cash flow for the remainder of the year: Shares rose nearly 5% Thursday morning, and American Airlines Group reported earnings for the current quarter on Thursday. Travel demand remained robust despite airfare hikes as it raised its earnings forecast for Korea, a week where airline stocks were stronger as stocks rebounded 1.5% at the start of trading on Thursday, demonstrating that the financial sector has recovered from the pandemic. -The automaker disappointed Wall Street late Tuesday, reporting earnings-per-share but falling short of expectations for quarterly sales, the company reiterated its previous guidance of a 50% average annual growth rate for vehicle deliveries this year. Acknowledging the headwinds from rising raw material costs and inefficiencies at Gigafactory Berlin: β€œIt cannot be overemphasized that demand for the fourth quarter is very high,” said CEO Elon Musk. Interest rates are being raised above the above, but North America is pretty healthy. t and bring them down again.” German Chancellor Olaf Scholz, Brandenburg Chancellor Dietmar Boydke and Elon Musk attend the opening ceremony of the new Tesla Gigafactory electric vehicle plant in Gruhenheide, Germany on March 22, 2022. St. Louis President Patrick Pleul/Pool via REUTERSFederal Reserve Bank St. Louis President James Bullard told Bloomberg TV on Wednesday that policymakers will stop the “head” of massive rate hikes until early next year and move on to smaller moves as needed until inflation eases. He said he expects to move. In a separate comment Thursday, his fellow Philadelphia Fed President Patrick Harker said the central bank could halt its tightening process next year, but was more adamant about raising short-term interest rates to prevent inflation. High interest rates and the macroeconomic stage of the policy tig showed that businesses remain largely resilient. Thanks to our strong pricing power. However, some have struggled to continue raising wages due to consumer backlash against price hikes and inflation. Corporate earnings so far have reflected resilience, but Wall Street strategists have warned that earnings-per-share forecasts will continue to decline,” said Mike Wilson, chief equity strategist at Morgan Stanley, in a podcast earlier this week. “We are skeptical about whether we will be able to make enough profit on the stock market, so the final price of this bear market will hit a trough,” he said. The final low price for this bear will be close to 3000-3200 when it succumbs.” – Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc. Click here for the latest trending stock quotes on the Yahoo Finance platform. 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