"The futures are trading higher this morning after another stellar day across Wall Street on Tuesday, as all the major indices once again ended higher and continue to print new all-time highs. Financial commentators noted continued strong third-quarter earnings results. With 1/3 of the S&P 500 reporting so far, 83% have beaten analyst expectations, and many have offered guidance better than Wall Street expected. About the only negative item on the day was the announcement of more massive"
"layoffs from corporate America: United Parcel Service ( NYSE: UPS) announced another 34,000-worker layoff, bringing the company's yearly total to 48,000, and Amazon.com ( NASDAQ: AMZN) plans to lay off 14,000 workers. One of the issues Wall Street will be keeping a close eye on as the year winds down is the worsening job market. That could prompt more Fed rate cuts, but could fan the inflation flames. That could, in turn, start a new Fed rate-hiking cycle next year, which many on Wall Street, including Cathie Wood, believe could be the tipping point for an overbought bull market that is getting long in the"
U.S. futures rose after major indices closed at new all-time highs following strong third-quarter earnings. One-third of the S&P 500 has reported, with 83% beating analyst expectations and many providing stronger-than-expected guidance. Significant corporate layoffs were announced, including 34,000 at UPS and 14,000 at Amazon, exacerbating a worsening job market. A softer labor market could increase pressure for additional Fed rate cuts while risking higher inflation and a possible renewed tightening cycle next year. Treasury yields were mixed as traders priced an expected 25-basis-point Fed funds cut and awaited Fed guidance from Chairman Powell. Oil benchmarks ended lower.
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