After a good start in the morning session, the day capped off with S&P finishing at another new record high. These good numbers are largely due to some big earnings by U.S. tech companies. Microsoft (MSFT) posted a 5.96% increase on the day. The euro fell from a two year-high today in relation to the U.S. dollar; however the change was relatively small. Some analysts are forecasting this to only be a temporary drop and predict that the euro could rise up to $1.40 against the USD in the coming weeks. Twitter has been in the news a lot today since they are in talks to come to Wall Street as early as Monday of next week. Twitter also released that they will sell their shares between $17 and $20, and they plan on selling upwards of 70 million shares. The Fed is putting in a lot of effort to keep interest rates low, and are buying approximately $85 billion worth of U.S. government and other bonds. Also, most companies are revealing the good news that their 3Q earnings have been beating analysts’ estimates.
Word on the Street
- Tech stocks that performed well on Friday; Microsoft (MSFT) and Amazon (AMZN).
- The seasonal hiring time has begun - 500,000 new jobs on the horizon.
- Gas prices are really beginning to drop, falls below $3 in Missouri.
- September Economic Report on Durable Goods: orders increased by 3.7%.
- Will twitter struggle trying to sell its IPO to investors?
- After splitting Procter & Gamble (PG) into four different business, P&G meets Wall Street’s expectations.
- General Electric’s (GE) Third Quarter Earnings Light Up Its Stock.