All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
Stocks sank over the week on weaker earnings reports. The S&P 500 fell 0.7%, but the Dow ticked up 0.1% for the week. Internationally, markets were mixed with Japan surging 1.5%, while Europe sunk 1.0% for the week. The yield on the 10 year Treasury bond surged to 1.85%, its highest yield since the end of May, as inflation expectations around the world have picked up. Article
US GDP Growth rose at a 2.9% rate in the third quarter, the strongest reading in 2 years. Article
Consumer inflation in the US and Europe is at its fastest pace since 2014 and Chinese factory prices rose for the first time in 4 and half years.
TD Ameritrade agreed to buy Scott Trade for $4 billion in a tie up of two discount brokers.
Qualcomm agreed to buy automotive chip maker NXP for $39 billion.
October set a record for most merger and acquisition activity with $248.9 billion worth of deals.
GM, Samsung, Ford, Amazon and AB InBev all disappointed investors with their results while Apple, Tesla, Deutsche Bank, Alphabet and Volkswagen topped investor views.
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