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Wall Street Notches Record Closing Highs
Cooler-than-expected inflation data and upbeat corporate earnings lifted all three major U.S. stock indexes to record closing highs Friday, setting the stage for next week's earnings reports and an expected interest rate cut by the Federal Reserve.
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Wall St Rallies to Record High, Dow Soars 500 Points
Wall Street cruised to record highs Friday, buoyed by cooler inflation data that strengthened expectations of faster rate cuts by the Federal Reserve, while Intel's upbeat earnings kept momentum in AI-related stocks alive.
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Fed Poised for More Rate Cuts on Cooler Inflation
Federal Reserve will likely deliver quarter-point interest rate cuts at each of its next three meetings, traders bet Friday after a U.S. government report showed consumer inflation rose a little less than expected last month.
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Ford Surges 11% After Q3 Profit Beats Estimates
Ford Motor Co. shares jumped 11% Friday as investors shrugged off concerns from last month's aluminum plant fire, buoyed by strong quarterly results and news that the damaged Novelis facility will reopen sooner than expected.
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Porsche Swings to $1.1 Billion Quarterly Loss
Porsche swung to a wider-than-expected operating loss in the third quarter, it said Friday, plunging the German sports car maker deeper into crisis as it changes course on electric vehicles and battles to stem sinking sales in top market China.
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GM Cuts 200 Salaried Workers
General Motors Co. has laid off more than 200 salaried employees, primarily at its Tech Center in Warren, Michigan, just days after lifting its full-year profit forecast - a move that had sent its stock surging.
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P&G Beats on Resilient Beauty, Hair Product Demand
Procter & Gamble Friday beat Wall Street estimates for first-quarter revenue and profit, helped by strong demand for its beauty and hair-care products amid higher prices and a broader slowdown in spending due to economic uncertainties.
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Global Equity Fund Inflows Surge as US-China Trade Tensions Ease
Global equity funds attracted the largest weekly inflow in three weeks in the week through October 22 as signs of easing trade tensions between the United States and China, and strong earnings from some top U.S. companies, boosted risk sentiment.
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Gold Set to Snap 9 Week Winning Streak on Profit-Taking
Gold prices dropped nearly 2% Friday and were poised to break a nine-week winning streak as investors booked profits and signs of easing trade tensions between the U.S. and China tempered safe-haven demand ahead of a key U.S. inflation report.
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Morning Bid: Tariff Man Turns Terminator
Expectations of a thaw in U.S.-China relations gave Asian equities a boost Friday, after the White House said on Thursday that President Donald Trump would meet with Chinese President Xi Jinping next week during the U.S. leader's Asia trip.
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Target Plans to Lay Off 1,800 Employees
Target plans to lay off around 1,800 employees as part of its strategy to reverse stagnant sales, The Wall Street Journal reported Thursday.
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Intel Q3 Beats as Cost Cuts, Investments Pay Off
Intel beat expectations for September-quarter profit as CEO Lip-Bu Tan's drastic cost-cutting measures helped the chipmaker shore up its finances amid a slew of high-profile investments in the company.
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Ford Lowers Annual Guidance, Citing Fire at Supplier's Plant
Ford Motor cut its profit guidance Thursday, citing fallout from a fire at a critical aluminum supplier that will crimp production of some of its most lucrative vehicles through the end of the year.
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Wall Street Closes Higher Amid Mixed Earnings
Wall Street advanced Thursday as investors mulled a mixed batch of corporate earnings and shifting geopolitical concerns.
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Gold Rises on Renewed Geopolitical Risks
Gold prices rose over 1% Thursday after two consecutive sessions of losses, as renewed geopolitical risks bolstered safe-haven demand and investors braced for key U.S. inflation data due on Friday.
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Simmering Bank Crisis Boils Over
The global financial system is under renewed pressure. U.S. regional banks are struggling, squeezed by commercial real estate, high interest rates, and falling asset values.
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Clash With Trump Team Puts Musk's Empire at Risk
Elon Musk's sparring with Trump administration officials could be putting his businesses at risk, longtime observers of the billionaire told The Washington Post.
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Wall St Drifts as Oil Stocks Make Up for Tesla, IBM
Futures tracking Wall Street's main indexes paused Thursday as lackluster quarterly updates from Tesla and IBM weighed on sentiment, while simmering U.S.-China trade tensions kept investors on the edge.
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Earnings Reveal Businesses Adapting to Trump's Tariffs
Some of the world's biggest producers of food, consumer goods and cars delivered stronger-than-expected quarterly results Thursday, easing investor concerns over the toll of U.S. President Donald Trump's import tariffs.
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Tesla Gambles Debuting New Models No Longer Matters
Tesla's groundbreaking 2017 Model 3 electric sedan, followed by a taller Model Y variant, ushered in the era of mass-market electric cars, made Tesla the world's most valuable automaker and CEO Elon Musk the world's richest man.
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Quantum Computing Stocks Jump on Report of US Stake
Shares in U.S. quantum computing firms surged in premarket trading Thursday after The Wall Street Journal reported President Donald Trump's administration is in talks to take equity stakes in exchange for federal funding.
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IBM Q3 Beats as AI Powers Software, Mainframe Sales
IBM beat Wall Street estimates for third-quarter revenue and profit Wednesday, driven by booming demand for its software and new mainframe as the rush to deploy AI models boosts sales for the underlying technology supporting them.
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Tesla Revenue Beats as Tax Credit Expiry Drives EV Sales
Tesla reported record third-quarter revenue, beating Wall Street estimates Wednesday, driven by the highest quarterly sales of its electric vehicles as car buyers rushed to lock in a key U.S. tax credit ahead of its expiry last month.
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Stocks Fall on Mixed Earnings, China Trade Tensions
Wall Street closed lower Wednesday as a wave of mixed earnings, including Netflix's disappointing results, dampened risk sentiment as investors assessed reports that the Trump administration is considering curbs on exports to China made with U.S. software.
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Smart Glasses Help Amazon Drivers Deliver Faster
In its relentless drive to bring everyday items to customers faster, Amazon has shifted expectations from two-day delivery to same-day and even within an hour.