Test- FTSE 100 Kicks Off August on a High as BP and Senior Lead Market Momentum
$11
10 Oct 2025, 13:13
Neutral
US stocks fell on Friday as inflation expectations are worsening, worries are now on a constant high as the Federal Reserve’s aggressive rate hike path could trigger a recession. While investors, digested the beginning of the earnings season.
Looking at the indices, the S&P was down 84 points (2.29%), Nasdaq was down325 points (3.06% and the Dow Jones was down 368 points (1.23%). According to Refinitiv data, market experts now predict Q3 profits for S&P 500 firms to have increased just 3.6% from the prior year, a chunk lower than an 11.1% rise estimated at the start of July.
US retail sales were surprisingly flat in September as consumers reduce spending on motor vehicles and other big expenditures such as appliances and electronics. All due to the high inflation. The retails sales data showed an increase of 8.2% on a YoY basis in September.
Over in the UK Kwasi Kwarteng, Britain’s finance minister, has been given the sack after less than six weeks in the position as reported by the BBC earlier today. His sacking makes him Britain’s shortest serving chancellor since 1970.
Earnings reports:
- UnitedHealth has reported Q3 sales of $80.89 billion, up 12% YoY, beating expectations of $80.50 billion. EPS was reported $5.79 to the expected $5.42.
- JPMorgan reported $3.12 a share beating the estimate of $2.88. Revenue came in at $33.49 billion versus $32.1 billion.
- Morgan Stanley reported earnings of $1.47 a share against estimate of $1.49. Revenue came in at $12.99 billion versus $13.3 billion.
(sources: investing.com, CNBC.com, bbc.co.uk)
- Wells Fargo reported EPS of $1.3 versus estimate of $1.1 and revenue came in at $19.51 billion compared to the estimate of $18.75 billion.
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