Stocks soar on hopes that Fed will slow rate hikes CNN Business Banking HEAD TOPICS

Stocks soar on hopes that Fed will slow rate hikes CNN Business

10/21/2022 11:31:00 PM

The Dow rose for the third straight week its longest weekly winning streak of the year with some blue-chip stocks hitting all-time highs

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The Dow rose for the third straight week its longest weekly winning streak of the year with some blue-chip stocks hitting all-time highs A disastrous earnings report from Snap and less than inspiring results from Dow components American Express and Verizon weren't enough to keep the Wall Street bulls at bay Friday. Stocks surged on hopes that the Federal Reserve may soon come to the rescue by slowing the pace of its rate hikes. A disastrous earnings report from Snap and less than inspiring results from Dow components American Express and Verizon weren’t enough to keep the Wall Street bulls at bay Friday.True Thompson .with three seconds remaining in the third period.Shares of Dow Inc. Stocks surged on hopes that the Federal Reserve may soon come to the rescue by slowing the pace of its rate hikes. The Dow rose nearly 750 points, or 2. The super-cute frame -- which featured a heart-shaped window for an adorable, beaming black-and-white photo of Tristan and True -- was painted yellow, green and red with the trademark enthusiasm and adorable energy of a 4-year-old.5%, even as AmEx\n \n (AXP) and Verizon\n \n (VZ) fell nearly 2% and 5% respectively. Roughly six minutes into the opening frame as the Flyers attempted to break out of their own zone, winger Scott Laughton committed an unforced turnover at his own blue line, passing the puck into the skates of Panthers center Sam Reinhart to put the Panthers back on the attack. The Dow has now gained for the past three weeks, its longest weekly winning streak of the year." The frame also featured the words"I love you daddy. It was a broad-based rally, with all sectors rallying.02 a share, from $1. In fact, Verizon and AmEx were the only two Dow stocks that weren’t in green Friday." Tristan Thompson/Instagram Tristan and Khloe welcomed a second child, a son, on July 28 via surrogate, after months of drama. Panthers defenseman Gustav Forsling sprung Verhaeghe for a partial breakaway with defenseman Justin Braun backchecking hard in his wake. Blue chip stocks Exxon Mobil\n \n (XOM), health insurer Cigna\n \n (CI), Big Pharma stock Eli Lilly\n \n (LLY) and defense contractor Northrop Grumman\n \n (NOC) even hit new all-time highs. Stocks opened lower but were quickly off to the races after a Wall Street Journal report indicated that even though the Fed is likely to raise rates by another three-quarters of a point in November, Fed members are debating whether to signal that a smaller hike could be in the cards in December.  The emotional episode showed Khloe detailing Tristan's betrayal and ended with the co-parents reuniting at the hospital to meet  . Investors have started to become nervous that the Fed’s series of unprecedentedly large rate hikes could tip the economy into recession. “It’s their home opener. And apparently some at the Fed are having doubts about the pace of rate increases as well. GET THE ET NEWSLETTER.08. Reuters reported that San Francisco Fed president Mary Daly said in a speech Friday that the central bank should not create an “unforced downturn” for the economy with too many massive rate hikes. Long-term bond yields pulled back slightly, too, after the rate for the 10-year Treasury hit its highest level since late 2007.” » READ MORE: Sandström solid in season debut After missing part of the preseason with a lower-body injury, Sandström made his regular-season debut on the second night of the Flyers’ back-to-back. “The market has been looking forward to the Fed taking a break,” said JJ Kinahan, CEO of IG Group North America, which owns the online brokerage firm tastyworks. “I think it’s the right call to let the rate hikes they’ve already done play though the system a bit and see what shakes out,” Kinahan added. The Nasdaq and S&P 500 surged too, rising 2. One of those opportunities included a shorthanded breakaway for Tkachuk early in the second period, but Sandström robbed him. DOW slipped 0. 3% and 2.4% respectively. All three major market indexes are now up about 5% for the week, their biggest gains since June, and have posted solid gains for the month of October. “I wouldn’t say I was 100 [percent] from the start,” Sandström said. That’s despite the fact that Snapchat’s parent company\n \n (SNAP) plunged nearly 30% following its earnings, news that sent shares of other social media companies spiraling downward as well. Facebook owner Meta fell more than 1% and Pinterest\n \n (PINS) sank 6%.71 billion, or $2. Twitter\n \n (TWTR) also fell nearly 5%, due to reports that the Biden administration may closely scrutinize Elon Musk’s other businesses for a national security reasons before allowing Musk to buy Twitter\n \n (TWTR).” MacEwen makes an impact Winger Zack MacEwen did not make the Flyers’ opening-night roster, as the front office opted to give winger Hayden Hodgson a chance with the big club. There were also reports suggesting massive layoffs ahead at Twitter\n \n (TWTR) if the Tesla\n \n (TSLA) and SpaceX CEO closes the deal. . Read more:
CNN Breaking News » Tristan Thompson Shows Off Adorable Gift from Daughter True: Pic! Panthers snap the Flyers’ season-opening win streak with a 4-3 victory Dow adjusted profit falls 60% but tops expectations, stock slips Jaguar buzz: USA hosts Troy in ‘Battle for the Belt’

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We're getting to know our very own Cindy Hsu a little better with a series of rapid-fire questions. Read more >> How dare you give away the real reason stocks have been down in the headline to this story. Don’t you know y’all right wing outlets are supposed to tell your viewers that Biden sends Dem Congresspersons over to Wall Street to personally and individually lower each stock price? More accurately - The DOW is only up 152 points since Biden was sworn into office. It was bound to hit rock bottom at some point during Biden's reign. THANK YOU JOE Still down 16% from its high. 😂🤣 Oh please u jerkoffs. Keep trying, your dems are horrible and gonna get smoked in Nov. Meanwhile, here in the UK, a lettuce is going to be the next PM...Tristan Thompson Shows Off Adorable Gift from Daughter True: Pic!The proud dad took to his Instagram story to share a snap of the heartwarming gift. Panthers snap the Flyers’ season-opening win streak with a 4-3 victoryThe Flyers fought back from a deficit for the fourth time in four games this season, but this time it wasn't enough as the team's costly defensive breakdowns proved too much to overcome. Dow adjusted profit falls 60% but tops expectations, stock slipsShares of Dow Inc. undefined slipped 0.6% in premarket trading Thursday, after the specialty chemicals company reported third-quarter profit and sales that... Jaguar buzz: USA hosts Troy in ‘Battle for the Belt’Here's what you need to know as the Jags take on the Trojans on Thursday night. Snap Stock Plunges As Sales, Outlook DisappointSnap kicked off earnings season for social media and tech companies today on a sour note with solid user numbers but lower than expected revenue and a dim fourth-quarter outlook with sales expected to be flat. Shares are down nearly 25% Snap stock plummets more than 25% as online advertising continues to struggleSnap’s shares worsened as the stock plummeted more than 20% in after-hours trading. Snap reported revenue growth of less than 6%, and said sales are growing only 9% so far in the 4th quarter while declining to provide full holiday-season forecast. No one uses Snap they should just sell themselves. Why does it make me happy whenever a social media company drops... A disastrous earnings report from Snap and less than inspiring results from Dow components American Express and Verizon weren’t enough to keep the Wall Street bulls at bay Friday.True Thompson .with three seconds remaining in the third period.Shares of Dow Inc. Stocks surged on hopes that the Federal Reserve may soon come to the rescue by slowing the pace of its rate hikes. The Dow rose nearly 750 points, or 2. The super-cute frame -- which featured a heart-shaped window for an adorable, beaming black-and-white photo of Tristan and True -- was painted yellow, green and red with the trademark enthusiasm and adorable energy of a 4-year-old.5%, even as AmEx\n \n (AXP) and Verizon\n \n (VZ) fell nearly 2% and 5% respectively. Roughly six minutes into the opening frame as the Flyers attempted to break out of their own zone, winger Scott Laughton committed an unforced turnover at his own blue line, passing the puck into the skates of Panthers center Sam Reinhart to put the Panthers back on the attack. The Dow has now gained for the past three weeks, its longest weekly winning streak of the year." The frame also featured the words"I love you daddy. It was a broad-based rally, with all sectors rallying.02 a share, from $1. In fact, Verizon and AmEx were the only two Dow stocks that weren’t in green Friday." Tristan Thompson/Instagram Tristan and Khloe welcomed a second child, a son, on July 28 via surrogate, after months of drama. Panthers defenseman Gustav Forsling sprung Verhaeghe for a partial breakaway with defenseman Justin Braun backchecking hard in his wake. Blue chip stocks Exxon Mobil\n \n (XOM), health insurer Cigna\n \n (CI), Big Pharma stock Eli Lilly\n \n (LLY) and defense contractor Northrop Grumman\n \n (NOC) even hit new all-time highs. Stocks opened lower but were quickly off to the races after a Wall Street Journal report indicated that even though the Fed is likely to raise rates by another three-quarters of a point in November, Fed members are debating whether to signal that a smaller hike could be in the cards in December.  The emotional episode showed Khloe detailing Tristan's betrayal and ended with the co-parents reuniting at the hospital to meet  . Investors have started to become nervous that the Fed’s series of unprecedentedly large rate hikes could tip the economy into recession. “It’s their home opener. And apparently some at the Fed are having doubts about the pace of rate increases as well. GET THE ET NEWSLETTER.08. Reuters reported that San Francisco Fed president Mary Daly said in a speech Friday that the central bank should not create an “unforced downturn” for the economy with too many massive rate hikes. Long-term bond yields pulled back slightly, too, after the rate for the 10-year Treasury hit its highest level since late 2007.” » READ MORE: Sandström solid in season debut After missing part of the preseason with a lower-body injury, Sandström made his regular-season debut on the second night of the Flyers’ back-to-back. “The market has been looking forward to the Fed taking a break,” said JJ Kinahan, CEO of IG Group North America, which owns the online brokerage firm tastyworks. “I think it’s the right call to let the rate hikes they’ve already done play though the system a bit and see what shakes out,” Kinahan added. The Nasdaq and S&P 500 surged too, rising 2. One of those opportunities included a shorthanded breakaway for Tkachuk early in the second period, but Sandström robbed him. DOW slipped 0. 3% and 2.4% respectively. All three major market indexes are now up about 5% for the week, their biggest gains since June, and have posted solid gains for the month of October. “I wouldn’t say I was 100 [percent] from the start,” Sandström said. That’s despite the fact that Snapchat’s parent company\n \n (SNAP) plunged nearly 30% following its earnings, news that sent shares of other social media companies spiraling downward as well. Facebook owner Meta fell more than 1% and Pinterest\n \n (PINS) sank 6%.71 billion, or $2. Twitter\n \n (TWTR) also fell nearly 5%, due to reports that the Biden administration may closely scrutinize Elon Musk’s other businesses for a national security reasons before allowing Musk to buy Twitter\n \n (TWTR).” MacEwen makes an impact Winger Zack MacEwen did not make the Flyers’ opening-night roster, as the front office opted to give winger Hayden Hodgson a chance with the big club. There were also reports suggesting massive layoffs ahead at Twitter\n \n (TWTR) if the Tesla\n \n (TSLA) and SpaceX CEO closes the deal. .