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Stocks

“Corning shares pop 12% as AI boom drives stronger-than-expected demand for equipment”

“Corning shares closed up 12% Monday after the company raised its second-quarter guidance, marking the stock’s best trading day since March 2020. The company, known for developing the Gorilla Glass used for Apple iPhones and other phones, credits the outperformance to demand for its optical connectivity… Continue Reading…

Economy

“Retail sales rose 0.7% in September, much stronger than estimate”

“…Excluding autos, sales were up 0.6%, also well ahead of the forecast for just 0.2%. The so-called control group, which strips out items such as auto dealers, gas stations, office supply stores, mobile homes and tobacco stores and is used… Continue Reading…

Business

“Kroger hikes forecast after stronger grocery sales top estimates”

“Kroger on Thursday raised its forecast for the year after stronger third-quarter sales topped Wall Street expectations and inflation continued to push up the prices shoppers pay for milk, eggs and other groceries… Here’s what Kroger reported for the three-month period… Continue Reading…

Economy, Energy

“Oil Market Keeps Getting Stronger as Prices Power Up to $93”

“The market’s structure is trading at its strongest level in years, indicating scarce supply. Diesel — the fuel that helps power the global economy — is also surging as a cold snap hits the U.S and demand soars. Inventories at… Continue Reading…

Economy

“GDP grew at a 6.9% pace to close out 2021, stronger than expected…”

“The U.S. economy grew at a much better than expected pace to end 2021 from sizeable boosts in inventories and consumer spending and despite signs that though the acceleration likely tailed off towards the end of the year. Gross domestic… Continue Reading…

Economy

“Boost to Household Income Primes U.S. Economy for Stronger Growth”

“U.S. household income jumped 10% in January as the government delivered stimulus payments to households and consumer spending rose briskly, priming the economy for a burst in growth this year. The increase in income was the second largest on record,… Continue Reading…

Economy

“Job growth stronger than expected in October, unemployment rate slides to 6.9%”

“Employment growth was better than expected in October and the unemployment rate fell sharply… The Labor Department reported Friday that nonfarm payrolls increased by 638,000 and the unemployment rate was at 6.9%. Economists surveyed by Dow Jones had been looking… Continue Reading…

Banking, Business

“Morgan Stanley tops analysts’ revenue estimates by $1 billion on stronger-than-expected trading”

“The bank said Thursday in a release that profit jumped 25% from a year earlier to $2.72 billion, or $1.66 per share, exceeding the $1.28 estimate of analysts surveyed by Refinitiv. It generated revenue of $11.7 billion, 16% higher than a year… Continue Reading…