Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Oct 27 - The Nasdaq and S&P 500 rose on Friday as robust updates from Amazon.com and Intel lifted beaten-down megacaps, while investors also drew comfort from data that showed inflation rose largely in line with expectations.
Megacaps Microsoft , Meta Platforms , Tesla and Apple rose between 0.5% and 3.5% at the end of a rough week for Big Tech. "The Fed seems to have accomplished a lot of what they were trying to do in terms of inflation but then we have a very strong job market, very strong GDP and the Fed really has no incentive to change their policy anytime soon."
Ford Motor sank 8.0% after withdrawing its full-year results forecast due to"uncertainty" over the pending ratification of its deal with the United Auto Workers union, and warning of continued pressure on electric vehicles. Enphase Energy dipped 13.5% after the solar inverter maker forecast fourth-quarter revenue below estimates.
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