Company earnings so far show 84% beat estimates, according to FactSet; WSJ survey finds recession risk below 50%; Rite Aid files for bankruptcy protection; Swift concert film makes record debut.
Citibank, Wells Fargo, JPMorgan Chase report higher quarterly profits; EU officially asks info from X about misinformation, hate speech moderation; Microsoft closes Activision Blizzard deal.
Stocks fall; rent and gasoline push up consumer prices; Social Security benefits to rise by less than last year; new jobless claims unchanged from prior week.
Core consumer prices, excluding volatile categories, rose at their slowest pace in two years; Social Security benefits to increase 3.2% next year; Delta’s profits soar after increasing passenger capacity; Walgreens books $3.1 billion fiscal year loss.
European Union says misinformation, pro-Hamas posts are illegal; wholesale prices rise by 0.5% in September; Exxon Mobil buys shale oil giant Pioneer for $60 billion; federal agencies announce new efforts to reduce consumer fees.
IMF’s latest forecast is for the global economy to grew 2.9%; Pepsico boost earnings by raising prices, plans more hikes; Fed members say interest rates may be unchanged next month; Canadian auto workers at GM plants go on strike.
