Daily Shocker Recap of Today Business News October 24, 2023

Daily Shocker Recap of Today Business News October 24, 2023

With the benchmark 10-year Treasury yield on the upswing on Tuesday, investors were encouraged to buy stocks as they anticipated a flood of earnings announcements from tech giants and other important firms. The Dow Jones Industrial Average, the Standard & Poor’s 500 Index, and the Nasdaq Composite all rose by about 0.5%.

Two elderly Israeli women, among more than 200 hostages captured during Hamas’s onslaught against Israel on October 7, have been released following the release of a mother and daughter from the United States last week.

Almost a third of all car owners in the United States are at least 30 days behind on their payments. Rising pricing and interest rates have made purchasing a new car more expensive to finance.

The business reported quarterly earnings and revenue that exceeded analyst projections on Tuesday. This came as consumers shrugged off price rises for Coca-Cola and other items. The actual profit was $11.91 billion, which is higher than the $11.44 billion that was expected.

Former Fox News host Tucker Carlson has signed his first major advertising contract with his own media company. The app that caters to conservatives has signed a deal with PublicSq. for at least $1 million, according to the company’s CEO.

The purchase price for Hess by Chevron is $53 billion. Just last month, we saw ExxonMobil acquire Pioneer for $60 billion, another industry-altering deal. This shows that the two major oil companies in the United States, Exxon and Chevron, are still making substantial investments in fossil fuels.

Tesla claims in a filing with the SEC that the DOJ is looking into the company and has issued subpoenas about the company’s compensation practices, employee benefits, and the safety of its self-driving technology.

For the first time since May 2022, the price of bitcoin briefly rose above $35,000 due to a rush in short liquidations prompted by optimism about a bitcoin exchange-traded fund and a flight to safety.

Verizon raised its annual free cash flow forecast on Tuesday, citing the success of the company’s advertising and its rapid 5G network expansion in the United States as reasons for the increase.

Spotify’s (SPOT) fiscal third quarter revenue and earnings came in higher than predicted on Tuesday, as the music streaming company tries to enhance profitability by decreasing spending in podcasting and increasing prices for its premium features.

General Electric raised its full-year profit forecast on Tuesday for the third time this year, citing strong demand for jet engine parts and services and improved performance in its renewable sector.

Companies making over a trillion dollars a year in sales are pressuring governments to stop using fossil fuels. More than 130 companies, including Nestlé and Unilever, have signed a letter to world leaders urging them to enhance their clean energy promises in advance of the upcoming U.N. climate summit.

Two lawsuits have been filed against broker fees due to the high rates and prices that are hindering the real estate market. The leading brokers and the National Association of Realtors (NAR) have been targeted in antitrust class-action lawsuits that aim to reform the home-buying process in the United States.

On Tuesday, October 24, earnings reports are scheduled to be released by General Electric (GE), Texas Instruments (TXN), Alphabet (GOOG), Visa (V), Coca-Cola (KO), and Microsoft (MSFT).

On Wednesday, October 25, investors will get to hear from Meta Platforms (META), T-Mobile US (TMUS), Thermo Fisher Scientific (TMO), Boeing (BA), and General Dynamics (GD).

On Thursday, October 26, the following companies will release financial results: Amazon.com (AMZN), Mastercard (MA), Merck & Co. (MRK), Intel (INTC), Altria (MO), Chipotle Mexican Grill (CMG), Northrop Grumman (NOC), and UPS.

There will be a lot of attention paid to the earnings releases of four major companies on Friday, October 27: Exxon Mobil (XOM), Chevron (CVX), AbbVie (ABBV), and Charter Communications (CHTR).

Stocks to watch

SNDL Group (SNDL), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT)GOOGL, Apple (AAPL), Pay Pal (PYPL), Walmart (WMT), Amazon (AMZN), Facebook (META), Tesla (TSLA), Carnival Corporation (CCL), PepsiCo (PEP), Wells Fargo (WFC), Johnson & Johnson (JNJ), Philip Morris International (PM)

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Daily Shocker Recap of Today Business News October 23, 2023

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