🛑 Jerome Powell Busts The Rally!

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Markets

Stocks close lower for a fourth day, Nasdaq sheds 1.7% as October jobs report looms (5 minute read)Stocks fell Thursday, declining for a fourth consecutive session. The slide came a day after the Federal Reserve delivered another three-quarter point interest rate hike and signaled that a pivot or rate cut won’t come anytime soon. The Dow Jones Industrial Average slid 146.51 points, or 0.46%, to close at 32,001.25. The S&P 500 lost 1.06% to finish at 3,719.89, while the Nasdaq Composite shed 1.73% to settle at 10,342.94.

Did Jerome Powell just bust the stock market rally? (4 minute read)Federal Reserve Chair Jerome Powell has the power to make or break markets these days. On Wednesday, he opted to disappoint. The central bank announced its fourth straight interest rate hike of three-quarters of a percentage point, continuing its aggressive and unprecedented campaign to get inflation under control. What investors honed in on, however, were Powell’s comments about where interest rates could peak — and how long they could stay there before the Fed changes course.

Stocks and oil rally on reports of China COVID respite (4 minute read)Global stocks rose on Friday for the first time in three days ahead of key U.S. jobs data, as investors took heart from reports China may relax its COVID rules, boosting major currencies against the dollar and prompting a 2% rally in oil. China is working on a plan to end a system that banned individual flights for bringing in passengers infected with the COVID-19 virus, Bloomberg News reported on Friday, citing people familiar with the matter.

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Investing

Coinbase Gains After Earnings, Analysts Praise Strong Expense Control (5 minute read)Shares of Coinbase (COIN) are trading over 8% higher in pre-market Friday despite the cryptocurrency exchange reporting Q3 results that came in worse than what the Street was expecting. Coinbase reported a loss per share of $2.43 on revenue of $590.34 million, worse than the expected loss of $2.36 on revenue of $654.85 million. The transaction volume fell 44% quarter-over-quarter, fueled by a depressed trading volume. Still, subscription revenue jumped 43%.

Starbucks beats quarterly sales estimate on pricey drinks, robust demand (5 minute read)Starbucks Corp (SBUX) topped Wall Street estimates for quarterly comparable sales on Thursday, as pricier drinks and strong demand from consumers in North America helped the coffee chain offset the impact of lockdowns in China. Global comparable sales at the Seattle-based company rose 7% in the fourth quarter ended Oct. 2, while analysts on average had expected a 4.2% rise, according to Refinitiv IBES.

Better Buy: Microsoft vs. Alphabet (5 minute read)Tech giants Alphabet (GOOG) and Microsoft (MSFT) were among the companies that posted disappointing quarterly results and saw their stock prices subsequently plunge. The steep declines in their share prices throughout 2022 have effectively put their stocks on sale as both companies will likely see substantial gains in the long term. As a result, you might be wondering which is the better buy: Alphabet or Microsoft? This article from the Motley Fool aims to find out.

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Money

Which U.S. Cities Have the Highest Inflation? (9 minute read)U.S. inflation clocked in at 8.3% in August.1 That just stings—especially when everyday “necessities,” like bacon and Oreos, have become luxury goods. In fact, the August inflation rate in a few cities beat the national average by several percentage points. We’re talking double-digit inflation! Did your town make the August list?

1. Phoenix-Mesa-Scottsdale, AZ (13%)

2. Atlanta-Sandy Springs-Roswell, GA (11.7%)

3. Miami-Fort Lauderdale-West Palm Beach, FL (10.7%)

6 Lessons from William O'Neil on Making Money in Stocks (10 minute read)Making money in the stock market is not easy, but it is possible. By following the advice of William O'Neil, you can improve your chances of success. In this article, we'll take a look at six of his most important lessons for making money in the stock market. If you're looking to make some extra cash through stock market investing, be sure to keep these tips in mind!

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