Daily Investor Update: Wall St. edges higher after Fed holds steady on rates

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Wednesday, November 1, 2017

Wall St. edges higher after Fed holds steady on rates

(Reuters) - Wall Street banked modest gains on Wednesday after the U.S. Federal Reserve kept interest rates unchanged and gave encouraging comments about the economy.

Facebook profit trounces estimates as ad sales rise

(Reuters) - Facebook Inc reported better-than-expected quarterly profit and revenue on Wednesday as it pushed further into video advertising in a quarter dominated by reports that Russia allegedly used the social network to meddle in the 2016 U.S. elections.

Tesla reports biggest-ever quarterly loss

(Reuters) - Tesla Inc reported its biggest-ever quarterly loss on Wednesday as the electric-car maker spent more to speed up production of its more affordable Model 3 sedan.

Trucks, SUVs drive U.S. October new vehicle sales

DETROIT (Reuters) - Major automakers posted mixed U.S. new vehicle sales in October on Wednesday, though America's love affair with high-margin pickup trucks and SUVs remained in full bloom as larger, pricier vehicles fared better than passenger cars.

Qualcomm profit sinks nearly 90 percent

(Reuters) - Smartphone chipmaker Qualcomm Inc reported a 89.5 percent slump in quarterly profit on Wednesday as the company’s ongoing patent battle with Apple Inc hurt both its licensing and chips business.

Ackman makes new bet against Herbalife with options

(Reuters) - William Ackman said on Wednesday he has bought options to sell shares of Herbalife Ltd as a new way to bet against the nutritional supplement company he has described as a pyramid scheme.

Luxury auto brands are scrambling to avoid a blue Christmas

DETROIT (Reuters) - When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating.

Fed keeps rates unchanged, remains on road to December rate hike

WASHINGTON (Reuters) - The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth and a strengthening labor market while playing down the impact of recent hurricanes, a sign it is on track to lift borrowing costs again in December.

TPP talks without U.S. near final stretch ahead of APEC

URAYASU, Japan (Reuters) - The 11 remaining nations in the Trans-Pacific Partnership (TPP) without the United States edged towards sealing a comprehensive free trade pact after New Zealand agreed to amend laws that are not subject to TPP, to enable its ban on foreign home purchases.

U.S. factory activity index eases off 13-1/2-year high

WASHINGTON (Reuters) - A measure of U.S. factory activity retreated from a 13-1/2-year high in October as some of the boost from hurricane-related supply disruptions faded, but continued to point to strengthening manufacturing conditions.

Daily Investor Update: Wall St. edges higher after Fed holds steady on rates

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