WEEKLY BUSINESS ROUNDUP
Global Business Week: How does your personality impact your income?
The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics
It was a solid first week of Q3 earnings as the largest U.S. banks posted another robust round of quarterly results. This led the S&P 500 to wrap up its best week since July, closing at its highest level in a month. U.S. equity markets closed out the week with gains as the major indices soared for a second straight day. Financial heavyweights Goldman Sachs, J.P. Morgan & Bank of America were among the firms topping consensus estimates.
Economic data also eased some concerns this week, with U.S. retail sales data coming in stronger than expected and initial jobless claims posting their lowest numbers since the pandemic began. U.S. Treasuries fell as the 10-year yield inched above 1.57%, but more telling was the two-year yield climbing to its highest since February 2020. Oil traded above $82 a barrel on rising demand while supplies remained tight in the U.S. and other OECD countries. The Dow, S&P 500, and Nasdaq all climbed more than 1.5% for the week.
USD lost its appeal temporarily as risk appetite remained buoyant on equities. The benchmark dollar index (DXY) closed the…
