Wall Street Today | US Job Openings Post Surprise Increase, Keeping Pressure on Fed

Moomoo Recap US wrote a column · Nov 2, 2022 08:11

MACRO

US Job Openings Post Surprise Increase, Keeping Pressure on Fed

US job openings unexpectedly rebounded in September amid low unemployment, likely fueling further wage gains and adding pressure on the Federal Reserve to extend its aggressive campaign to curb inflation.

The number of available positions increased to 10.7 million in September from a revised 10.3 million a month earlier, the Labor Department's Job Openings and Labor Turnover Survey showed Tuesday. The median estimate in a Bloomberg survey of economists called for a drop to about 9.8 million.

US Manufacturing Nears Stagnation, Price Gauge at Two-Year Low

US manufacturing neared stagnation in October as orders contracted for the fourth time in five months, while an index of prices paid fell to a more than two-year low.

SECTORS

U.S. and UAE Sign Strategic Partnership Deal to Spur $100 Billion in Clean Energy Investment

The White House described the partnership, named PACE, as a major achievement for President Joe Biden's climate agenda. It aims to mobilize $100 billion in investment, financing and other support to produce 100 gigawatts of clean energy by 2035.

OPEC Output Steady Last Month After Group Pledged Symbolic Cut

OPEC's crude production held steady last month after the group pledged a symbolic cutback to stabilize market sentiment. The Organization of Petroleum Exporting Countries increased daily output by 30,000 barrels to 29.98 million barrels in October, according to a Bloomberg survey.

COMPANY

AMD Stock Pops 4% as Forecast Quells Fears About Data-center Sales, Excess Inventory

$Advanced Micro Devices (AMD.US)$ shares rose 4% in the extended session Tuesday after the chip maker's data-center sales held up in quarterly earnings, and started rallying after Chief Executive Lisa Su said the outlook included getting rid of excess inventory by the end of the year.
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Airbnb Stock Drops 5% Despite 'Biggest and Most Profitable Quarter Ever'

$Airbnb (ABNB.US)$ on Tuesday reported its "biggest and most profitable quarter ever" and beat Wall Street's profit and revenue expectations. Airbnb shares fell more than 5% after hours, as the company guided for some softness in the current quarter because of seasonality.
>>Read more

BP Reaps 'Exceptional' Gas Trading Result After Price Surge

$BP PLC (BP.US)$'s natural gas division racked up an "exceptional" third quarter, with sales more than tripling after prices for the fuel soared in energy-starved Europe. Adjusted third-quarter profit for the major's gas and low-carbon energy division umped to $6.24 billion, which is more than the business made in the first nine months of 2021.

Tesla Reportedly Plans Mass Production Start for Cybertruck at End of 2023

$Tesla (TSLA.US)$ aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target, two people with knowledge of the plans told Reuters. In January, Elon Musk cited shortages in sourcing components as the reason for pushing the launch of Cybertruck into 2023.

Source: Bloomberg, Dow Jones, CNBC, Yahoo Finance

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GODGIVENFOOL139 : ok

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s2nw2g : Just show how wrong Fed is on using IR to lower inflation. Guess this is the only thing they can control since they can't solve/control the logistics and war issues.

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intuitive Jackal_354 : ya know who cares, instead of pumping society full of un nesecary fear and turmoil, just quit over exaggerating the obvious

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Revelation 6 GODGIVENFOOL139 : Ok

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