Wall Street flirts with records
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Tesla stock was falling. The EV maker reports third-quarter earnings Wednesday evening. Wall Street projects earnings per share of 55 cents from sales of $27.2 billion., according to FactSet.
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Meta, Blue Owl and AI: Here are the details of Wall Street’s biggest private-capital deal ever
Meta and Blue Owl struck a record $27 billion joint venture for the tech giant’s Hyperion data center, signaling a pivot in how Big Tech is funding its AI ambitions.
Wall Street trades mixed on Tuesday as investors digested a slew of key earnings reports and await the inflation report due on Friday.
A subsidy agreement to end the shutdown would calm nerves for now, but deeper issues remain.
Wall Street is stirring from its slumber after the collapse of First Brands Group and Tricolor Holdings and fraud-linked writedowns at Zions Bancorp and Western Alliance. Investors have become more anxious about credit fragility, with more than $3 billion flowing out of high-yield bond funds and risk-on momentum trades like crypto losing steam.
In normal times, such worries would cause only a moment’s concern. Yet after years of loose lending and with markets soaring, the increasingly widespread concern on Wall Street is that a few bad loans could herald much worse to come. And so investors have their eyes peeled for even the smallest cockroaches. ■
Bank stocks, meanwhile, stabilized on Friday after several reported stronger profit for the latest quarter than analysts expected, including Truist Financial, Fifth Third Bancorp and Huntington Bancshares. That helped steady the group, a day after tumbling on worries about potentially bad loans.
Wall Street’s biggest banks expect changes to the quality and availability of European bond market data will unlock the next wave of electronic trading growth.
On Wall Street, Amazon’s stock held up despite a widespread outage for its cloud computing service that caused disruption for internet users around the world early Monday. Amazon’s stock rose 0.8%. In stock markets abroad, indexes rose across much of Europe and Asia.