STOCKS RISE: Here's what you need to know
Stocks climbed on Tuesday after a batch of impressive earnings results.
All three major indices finished in the green.
First up, the scoreboard:
- Dow: 18,160.57, +74.17, (+0.41%)
- S&P 500: 2,139.64, +13.17, (+0.62%)
- Nasdaq: 5,246.33, +46.58, (+0.90%)
- WTI crude oil: $50.37, +0.43, (+0.84%)
- 10-year Treasury yield: 1.749%, -1.8 basis points
- Medical costs are rising faster than pretty much everything else right now. The Bureau of Labor Statistics released the latest data for CPI, which rose by 0.3% month-on-month and 1.5% year-on-year in September. Notably, on the one-month time frame, headline CPI was boosted most by medical costs.
- Homebuilder sentiment slips off its highest level in a decade. The National Association of Homebuilders said Tuesday that its housing market index slipped by two points to 63, in line with what economists had expected.
- Saudi Arabia's oil production for August fell from record highs. Saudi Arabia's crude oil exports in August fell to 7.305 million barrels per day from 7.622 million bpd in July as the world's largest oil exporter pumped less.
- UnitedHealth profit explodes after ditching most of its Obamacare business. The largest US health insured reported better-than-expected quarterly profit and revenue and increased its forecast for 2016 adjusted net earnings to about $8.00 per share, from $7.80-$7.95.
- Goldman Sachs reported third-quarter earnings Tuesday and it was a big beat. The firm reported diluted earnings per share of $4.88 on revenue of $8.17 billion. Analysts were expecting adjusted earnings per share of $3.88 on revenue of $7.41 billion, according to Bloomberg. However, one chart provides a reality check.
Additionally:
Bank of America: Investors are getting worried that a bond market crash is coming.
San Francisco - Well's Fargo's hometown - might ditch the bank.
One of the biggest political betting markets is already assuming Hillary Clinton is going to win.
Tuesday's inflation report just confirmed 3 of the biggest business trends in the US.
Credit Suisse traders are prepping one of the biggest hedge fund launches this year.