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What you should know today
Stocks are bursting with enthusiasm
U.S. stock prices enjoyed a broad rally
All 11 S&P sectors ended the day positive on Thursday.
Europe's regional Stoxx600
The rise in the index was boosted by an increase of 3% in auto stocks, and a 2.7% increase in technology stocks. Separately,
Manufacturer of Wegovys, Novo Nordisk
The company's third-quarter results were a record for sales and profits.
Apples are not growing
Shares of the technology giant fell by around 3.5% after it reported earnings. Although
Apple's fiscal Fourth-Quarter Results
Investors were disappointed that, while the company beat expectations in terms of sales and earnings per stock, its overall sales declined for the fourth consecutive quarter -- and it was possible the company would not see growth in the holiday season. Apple is still huge.
Cash of $162.1 billion
The loosening of the labor market
Unit labor costs in U.S.
The measure of hourly pay against productivity fell by 0.8% from July to September. The economists expected an increase of 0.7%. Separately the number of initial claims for unemployment benefits increased by 5,000 in the week ending Oct. 28 compared to the previous week. This indicates a moderated jobs market, which is what the Federal Reserve needs to see in order for inflation to decrease.
Bank of England also pauses
You can also find out more about the following:
Bank of England keeps its main interest rates unchanged
At 5.25% but stated that "monetary policy will likely need to be restricted for an extended time." The BoE is following the U.S. Federal Reserve playbook, which keeps rates higher for longer. The central bank expects the U.K. Gross Domestic Product to be flat in the third and fourth quarters.
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Both stocks saw massive gains following their earnings reports. CNBC Pro's analysis shows that options traders are only seeing gains on these two stocks based on the put and call volume.
One of them is surging in a sustainable way
The other will fail.
The markets had a spectacular day, with all the pieces falling into place exactly as investors could hope. The apple fell off the tree in a rather imperfect way.
First, the positives. The yield on 10-year U.S. Treasury fell around 12 basis points, reaching 4.661%. This is a dramatic drop from three weeks ago when the yield on the 10-year U.S. Treasury was around 4.661%.
Treasury breaches the 5% threshold
Bond yields falling benefit stocks from two perspectives: they create less incentive for investors, who are then more inclined to invest in riskier assets such as stocks. The lower cost of borrowing can stimulate the economy and ultimately drive stocks higher. Investors were often frightened by the influx of new regulations.
The U.S. GDP growth was incredible in the last quarter
There were also signs that inflation was slowing down in the U.S. Labor costs fell in the three months ending September, versus an expected rise. Meanwhile, unemployment claims increased. These statistics will likely reassure the Fed that the labor market hasn't heated up again for the time being.
The stock market soared as a result. Stocks soared on those developments.
The index gained 1.89% on Monday, its best day in April. This is the first time the index has increased by more than 1% for a consecutive period since February. The
Dow Jones Industrial Average
The daily increase of 1.7% was the highest since June. The
The stock gained 1.78%, marking a winning streak of five days and its best session in July.
All indexes will post a weekly gain of about 5%.
Before investors rejoice prematurely, it's important to remember that
Results to digest. Although the company exceeded earnings and revenue estimates, its hardware division, outside of the iPhone, has struggled for more than a year. Apple is the largest constituent of S&P, with a $2.77 trillion market capitalization. Apple's share price will have a huge impact on the S&P index. It has already fallen around 3.5% during extended trading.
The release of the October jobs report later today will have a significant impact on markets. Economists expect an
Increase of 170,000 payrolls
Stocks could fall if a number is drastically higher. The sentiment remains fragile despite a recent string of positive events. One bad apple can ruin the entire meal.