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October 16, 2015 Financial News – Business News – Stock Exchange …

October 16, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2015

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2015

On Monday, stock markets were open, however bond markets, banks and some business were closed due to the Columbus Day holiday. Trading was light, especially as investors waited for third quarter earnings to come in. The NASDAQ composite closed above its 50-day moving average for the first time since August 17th.

On Tuesday, stocks pulled back a bit as data from China showed their dollar-denominated imports plunged 20.4% for September year-over-year, the 11th straight monthly decline.

On Wednesday, retail sales for September grew an anemic .1%, while producer prices for September fell by .5%, their biggest drop in 8 months. In addition, bad news from Wal-Mart sent markets tumbling with the Dow Industrials closing 157 points lower.

On Thursday, the consumer price index for September was down .2% month-to-month and was unchanged year-over-year. The Empire State manufacturing survey for October was once again below expectations, showing contraction for the third straight month at -11.36. Jobless claims for the week ending October 10th was the bright spot in economic news, coming in 7,000 lower than the previous week at 255,000. The four-week average is 265,000, which is also a 42-year low. Investors now speculate that the next Fed rate hike will be delayed into next year due to slowing economies, both here and abroad.

On Friday industrial production for September was down .2%, and consumer sentiment for October was up over 5% to 92.1. Markets were slightly higher at the open.

Now let’s take a look at some stocks

Anheuser Busch Inbev SA (ADR) (NYSE:BUD), the world’s largest brewer, announced Tuesday that they have reached an agreement with SABMiller, their largest competitor. SABMiller will be acquired for about $104 billion. The newly-merged gigantic beer maker is projected to have annual revenues of $64 billion.

Tripadvisor Inc. (NASDAQ:TRIP) shares rallied 26% Wednesday after announcing a strategic partnership with Priceline Group Inc. According to the terms of the partnership, users will be able to book accommodations from Priceline’s Booking.com website directly through TripAdvisor.

Wal-Mart Stores, Inc.(NYSE:WMT) warned investors Wednesday of slowing growth. The company cut sales forecasts for the rest of the year, and also said earnings would experience pressure as a result of heavy investment in wages and e-commerce capabilities. Shares of the company plummeted 10%, its worst one-day drop in 17 years.

Netflix, Inc.(NASDAQ:NFLX) reported 3rd quarter earnings Wednesday after the market close. The company revealed disappointing U.S. subscriber growth, and declining profits due to heavy investments into international expansion and new, original content. Netflix added a total of 880,000 domestic subscribers, significantly below the 1.15 million projected. Shares fell 3% Wednesday after-hours.

Citigroup Inc. (NYSE:C) reported quarterly earnings of $1.31 per share, surpassing analysts’ expectations of $1.28 per share. Revenue fell 7.5% year-over year to $18.5 billion, but the bank also lowered its operating, legal and repositioning costs dramatically, which made up for the lower revenue. Citigroup shares surged on the news.

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