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Goldman Sachs’ profit jumped 45% in monster quarter. The investment bank made $3 billion of profit on revenue of nearly $13 billion in Q3, it reported yesterday, surpassing even the rosiest of expectations. Bloomberg reported that it was the best quarter ever for Goldman’s stock trading unit, putting the group on track for a record year.

Walgreens said it will close 1,200 US stores, about one in seven locations, by 2027. The retailer will shutter 500 stores by the end of next year.

CITE: https://www.r2library.com/Resource

UP STOCKS

Trump Media & Technology Group has had a wild week, falling nearly 10% yesterday before trading of the stock was halted, then popping 15.52% today. Election hype, a Trump-sponsored cryptocurrency, and Truth+, a new streaming service, are keeping shareholders on their toes.

• Abbott Laboratories rose 1.53% thanks to a stronger-than-expected earnings report powered by the company’s impressive medical device sales.
• Aspen Aerogels makes insulating material for batteries, which sounds boring to everyone but the Department of Energy. The DOE signed a conditional commitment to loan the company up to $670 million, sending shares 13.24% higher.

DOWN STOCKS

• Novavax plummeted 19.44% after the FDA put a hold on the pharma company’s flu and Covid vaccine combination.
• ASML Holding NV dropped another 6.42% today as the semiconductor selloff continues.
• Interactive Brokers enjoyed higher revenue and more trading from its user base last quarter, but earnings per share came in under expectations, and shares sank 4.05%.

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Here’s where the major benchmarks ended:

• The SPX rose27.21points (0.47%) to 5,842.47; the Dow Jones Industrial Average^® ($DJI) added 337.28 points (0.79%) to 43,077.70; and the NASDAQ Composite^®($COMP) increased 51.49 points (0.28%) to 18.367.08. 
• The 10-year Treasury note yield (TNX) fell two basis points to just below 4.02%, the lowest close since October 4.
• The CBOE Volatility Index^® (VIX) dropped moderately to 19.58, still elevated considering stock market strength.

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Starbucks is reportedly pivoting from discounts and promotions to refocus on selling premium coffee and seasonal drinks

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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