STOCKS HIT RECORD HIGH: Here's what you need to know
Reuters / Paulo Whitaker
The S&P 500 gained 0.1%. Meanwhile, the Dow increased 0.1% and the more tech-heavy Nasdaq rose 0.2%.
First up, the scoreboard:
- Dow: 22,866.69, +36.01, (+0.16%)
- S&P 500: 2,554.70, +4.06, (+0.16%)
- Nasdaq: 6,604.20, +16.32, (+0.25%)
- US 10-year yield: 2.35%, 0.00
- WTI crude oil: $51.31, +0.39, +0.77%
1. Trump took credit for stock-market records again on Wednesday - so we graded his claims. We found that while he's been responsible for some periods of strength, there have been other times when the market has risen due to other factors.
2. The stock market is on the verge of making history. Deutsche Bank points out that the S&P 500 is on pace to deliver positive total returns in every month this year, the longest such streak since 1995.
3. The Fed is worried that it won't achieve inflation target for a while. Officials are concerned that inflation will remain lower for longer, according to minutes of their September policy meeting.
4. Jefferies says Google has 'the right pieces in place to win the race' to a $1 trillion valuation. The firm's analyst has set his price target at $1,200 per share, compared to the $992.31 where it currently stands.
5. Credit Suisse says the headlines around the Amazon-Whole Foods deal have been focusing on the wrong thing. Their analyst argues that the focus has been on price cuts, while the real path to lasting shareholder value is through fulfillment and delivery.
ADDITIONALLY:
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Some of America's top restaurants are being accused of 'conspiracy' in a bizarre lawsuit
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Millennials are being 'left behind,' and it poses a huge risk to the US economy
Balyasny, a $12 billion hedge fund that's trailing its peers, is ramping up for a critical few weeks
Coach is changing its corporate name to Tapestry
Kroger surges after announcing it may sell its convenience-store business
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