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Facebook Beats Estimates for 6th Straight Quarter; Dow Finishes Above 17,000

By: , dated October 28th, 2014
All 3 main U.S. stocks indices ended the day in the green, with the Dow Jones closing above 17,00 for the first time in weeks. Nasdaq surged 1.7% after speculation of a possible partnership between Apple (AAPL) and Alibaba (BABA). Both companies benefited from the speculation, as Alibaba closed the day up 1.4%, while Apple ended the day up 1.3%. The Fed began their 2-day meeting to discuss their next steps regarding the interest rates today. It is expected, however, that the Fed will likely stay course and increase the near-zero interest rates by mid 2015. Facebook (FB) once again bested Wall Street’s expectations today. Wall Street expected revenue of $3.1 billion but Facebook reported Q3 revenue of $3.2 billion. Facebook also surpassed EPS expectations by 3 cents.

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