The S&P 500 and Nasdaq eked out gains Wednesday, narrowly continuing Wall Street's red-hot run of gains, as investors digested a fresh batch of corporate earnings amid a quiet week on the economic calendar.from several hawkish members of the Fed have put a check on optimism that interest rates have peaked, sapping momentum from the rally in stocks.
The move highlights the company’s effort to rapidly deploy its generative AI search and steal back mindshare from the likes of Microsoft’s stock fell more than 15% in early trading Wednesday after the company noted ongoing weakness in the ad market, saying it could impact visibility for 2024. The company posted a loss of $0.17 a share in the third quarter, wider than the loss of $0.08 a share analysts had expected but an improvement from the prior year's loss of $0.95. Revenue of $9.98 billion came in on par with consensus estimates compiled by Bloomberg and increased 1% excluding foreign exchange compared to Q3 2022.
OTTAWA — Further interest rate hikes from the Bank of Canada are very much still on the table as its governing council remains split on whether rates may need to rise further. The central bank on Wednesday released its summary of deliberations detailing the discussions governing council members had in the lead-up to its Oct. 25 rate decision, which kept its key rate on hold at five per cent.