LIVE – Floor of the NYSE! Oct. 13, 2017 Financial News – Business News – Stock News – Market News

August 17, 2022 Lifestyle Blog 0 Comments

Watch Us LIVE from the Floor of NYSE! October 13, 2017 Financial News – Business News – Stock News – Market News – Stock Exchange

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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2017

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2017

On Monday, equities markets were open, however, due to the Columbus Day holiday, there was no trading in bonds or currencies.

On Tuesday, the NFIB small business optimism index for September fell 2.3 points to 103, below expectations due to a drop in sales expectations. Markets rallied as Wal-Mart announced a $20 billion stock buyback and the Dow Industrials closed at a record high.

On Wednesday, the JOLTS job openings report for August fell nine-tenths of a percent to 6.08 million The Federal Reserve released minutes from their September meeting in which they unanimously voted to raise interest rates. The minutes showed that policymakers would like to raise rates again in December, however, inflation is remaining stubbornly low and they would like to see more evidence of increases towards their 2% target inflation rate. All three major indexes closed at record highs.

On Thursday, jobless claims for the week ending October 7th fell 15,000 to 243,000, and the producer price index for September rose .4%. The EIA petroleum status report for the week ending October 6th showed U.S. crude oil inventory falling 2.7 million barrels. Ten year Treasuries yielded 2.32% and U.S. crude fell 1.3% to $50.65 a barrel.

On Friday the consumer price index for September rose .5%, and retail sales for September rose 1.6%. Markets opened higher on optimism over strong earnings reports. Now let’s take a look at some stocks.

Wal-Mart Stores Inc. (NYSE: WMT) rose over 4% Tuesday after the retailer said it expects a 40% increase in its e-commerce sales in fiscal 2019 and also announced a $20 billion share repurchase program. The company plans to add 1,000 online-grocery pick up locations in the U.S., aiming to attract more customers to buy food from the company’s website.

AnaptysBio Inc. (NASDAQ: ANAB) reported positive results for its phase 2a clinical trial of its antibody, ANB020, used to treat adults with a skin condition known as eczema. In the trial, after a single dose, 75% of patients in the test reported a 50% improvement in symptoms compared to patients administered a placebo. The company’s shares skyrocketed over 80% Tuesday after the announcement.

Nutanix Inc. (NASDAQ: NTNX) announced on Tuesday that its Enterprise Cloud Platform software has been certified to run Cloudera Enterprise workloads. This allows customers to simplify complexity and run intensive data jobs in their own private cloud datacenter. Shares of Nutanix rose over 8% Tuesday following the announcement.

On Wednesday, Kroger (NYSE: KR) announced plans to explore the sale of their convenience store business due to fierce competition. Kroger’s 780 convenience stores across 18 states had total sales of $4 billion last year. Following the announcement, shares of the company rose over 6%.

JPMorgan Chase & Co. (NYSE: JPM) reported third quarter earnings for fiscal 2017 that beat both earnings and revenue projections. Earnings came in at $1.76 per share vs. $1.65 projected and revenue was $26.2 billion vs. $25.2 projected. The company’s shares rose 1% during early trading on Thursday.

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