An unexpected gain in September existing home sales lifted the markets to a sharply higher close with the Dow surging 165 points to 23,328. Nasdaq climbed 23 points to 6,629.


On the upside


Shares of uniQure (Nasdaq: QURE) continued to soar.


Xunlei (Nasdaq: XNET) stock extended its gains.


Shares of RISE Education Cayman (Nasdaq: REDU) surged in its market debut.

 

On the downside


The Securities and Exchange Commission is reviewing Axon Enterprise's (Nasdaq: AAXN) financial reports for fiscal 2016 and for the quarter ended March 31, 2017.


LaSalle Hotel Properties (NYSE: LHO) disappointed with sharply lower third quarter earnings that fell short of expectations. 

 

IberiaBank (Nasdaq: IBKC) reported lower third quarter earnings and announced plans to acquire Gibraltar Private Bank & Trust.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 13 points to 2,575. Bitcoin leaped $241 to $5,964.


Cortana powers Invoke

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The markets extended its gains during the midday with the Dow soaring 136 points to 23,299. Nasdaq rose 28 points to 6,633.


Microsoft's Cortana assistant will power Harman Kardon's new Invoke smart speaker that is priced at $199. Like its rivals Amazon Echo and Google Home, Invoke can check the weather, find directions, prepare a shopping list and stream music. Invoke can also control home environment devices such as thermostats and lights that are made by Nest, Philips Hue, SmartThings, and Wink.


Merck will restructure its sales operations by eliminating primary care, disease-focused endocrinology and hospital chronic care sales teams. Approximately 1,800 jobs will be cut nationwide as the drugmaker focuses on significant unmet medical needs. A new chronic care sales force of approximately 960 people will be created to support the diabetes medication Januvia, the sleep treatment Belsomra, and other drugs.


Customers who purchased the new Google Pixel 2 and Pixel 2 XL at pop-up stores in Manhattan and Los Angeles were overcharged by $31. Google has apologized for the error and pledged to repay the $31. Pixel 2 smartphones are listed at $649 on the Google Play Store but sold for $680 at the pop-up stores while the Pixel  XL is listed at $849 online but was priced at $880 at the pop-ups.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 gained 12 points to 2,574. Bitcoin rocketed $243 to $5,966.


Potential tax cut plan lifts markets

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A potential plan to cut taxes lifted the markets to a higher open with the Dow gaining 42 points to 23,205. Nasdaq rose 28 points to 6,633.


On the upside


Skechers (NYSE: SKX) reported higher third quarter earnings and revenue that beat expectations.


Atlassian (Nasdaq: TEAM) reported a smaller than expected loss for the first quarter and lifted its full year forecast.


athenahealth (Nasdaq: ATHN) reported better than expected earnings for the third quarter and announced plans to eliminate approximately 9% of its workers.

 

On the downside


Celgene (Nasdaq: CELG) halted two studies for the Crohn's disease treatment mongersen prompting a downgrade.


NCR (NYSE: NCR) reported lower third quarter revenue and lowered its full year forecast.

 

Gentex (Nasdaq: GNTX) reported lower third quarter earnings.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 rose 5 points to 2,567. Bitcoin slipped $8 to $5,714.


Mixed close over earnings

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The markets closed mixed with the Dow adding 5 points to 23,163 while Nasdaq lost 19 points to 6,605 as investors continued to monitor earnings.


On the upside


uniQure (Nasdaq: QURE) will advance AMT-061 into a pivotal study in 2018 for patients with severe and moderately severe hemophilia B.


Shares MongoDB (Nasdaq: MDB) surged in its market debut.


Qudian (NYSE: QD) stock continued to soar.

 

On the downside


Earthstone Energy (NYSE: ESTE) priced its public offering of 4.5 million shares of common stock at the discounted price of $9.25 per share.


United Continental (NYSE: UAL) reported lower third quarter earnings and warned of lower unit revenue in the fourth quarter.

 

Benchmark Electronics (NYSE: BHE) reported lower third quarter earnings.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by more than 4 to 3 on Nasdaq. The broader S&P 500 edged up a fraction to 2,562. Bitcoin eased $1 to $5,721.


GM reaches $120 million settlement

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The markets traded lower during the midday with the Dow slipping 18 points to 23,139. Nasdaq dropped 35 points to 6,589.


General Motors reached a $120 million settlement with 49 states and the District of Columbia over its faulty ignition switches. The defective switches could have caused engines to stall and may have prevented airbags from being deployed in a crash. The automaker has already paid approximately $2.5 billion in penalties over the faulty ignition switches that have been linked to 124 deaths and 275 injuries.


Target reported strong performance at its 44 small-format stores that are key to the retailer's turnaround plan. Sales per square foot at traditional stores average $300 while the metric is double that, $600, at the small-format centers. Sales have also been inching up at over 70 locations that have been remodeled.


Consumer Reports expects the new Tesla Model 3 to receive "Average" ratings for its reliability. Every year, the magazine surveys new vehicle reliability and provides a scorecard that consumers can use when making decisions about buying a new car. Toyota has ranked number one for reliability for five years in a row.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 slipped 2 points to 2,558. Bitcoin jumped $143 to $5,649.


First time applications for unemployment benefits fell to a 44-year low but the markets opened lower with the Dow losing 50 points to 23,107 as investors locked in profits. Nasdaq tumbled 41 points to 6,583.


On the upside


Adobe Systems (Nasdaq: ADBE) forecast fiscal 2018 earnings and revenue ahead of analyst expectations.


Danaher (NYSE: DHR) reported sharply higher third quarter earnings that beat estimates.


AngloGold Ashanti (NYSE: AU) will sell its Moab Khotsong mine to Harmony Gold (NYSE: HMY) and a Chinese investment firm.

 

On the downside


Shares of TAL Education Group (NYSE: TAL) fell ahead of its earnings release next week.


Ctrip.com International (Nasdaq: CTRP) will report third quarter results on Wednesday, November 1, after market close.

 

Norwegian Cruise Line (Nasdaq: NCLH) has retrofitted two more ships with exhaust gas cleaning systems.


In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 fell 8 points to 2,553. Bitcoin surged $224 to $5,730.


Solid earnings boost markets

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Solid earnings from IBM lifted the Dow to a higher close with the blue chip index leaping 160 points to 23,157. Nasdaq edged up a fraction to 6,624.


On the upside


Shares of Qudian (NYSE: QD) surged on its first trading day.


Bargain hunters lifted shares of Veritone (Nasdaq: VERI).


Investors snapped up shares of Viking Therapeutics (Nasdaq: VKTX).

 

On the downside


Supervalu (NYSE: SVU) reported a loss for the second quarter and announced an agreement to acquire Associated Grocers of Florida.


Shares of Immune Design (Nasdaq: IMDZ) extended its losses.

 

JPMorgan resumed coverage of Virtu Financial (Nasdaq: VIRT) with an Underweight rating.


In the broad market, advancing issues outpaced decliners by a slim margin on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 added a point to 2,561. Bitcoin plunged $157 to $5,418.


Strong earnings lift markets

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Strong earnings news lifted the markets to a sharply higher open with the Dow soaring 90 points to 23,087. Nasdaq gained 11 points to 6,634.


On the upside


International Business Machines (NYSE: IBM) reported better than expected third quarter earnings and revenue.


Spectrum Pharmaceuticals (Nasdaq: SPPI) presented encouraging interim data for its Phase 2 clinical trial of poziotinib to treat EGFR Exon 20 Mutant Non-Small Cell Lung Cancer.


Bank of America/Merrill Lynch lifted its price target on Cree (Nasdaq: CREE) from $31.00 to $32.00.

 

On the downside


Shares of MannKind (Nasdaq: MNKD) extended its losses.


MobileIron (Nasdaq: MOBL) announced the immediate departure of chief executive Barry Mainz and forecast third quarter revenue that fell short of analyst expectations.

 

Stifel Nicolaus lifted its price target on Synchronoss Technologies (Nasdaq: SNCR) from $10.00 to $12.00 but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 8 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 rose 3 points to 2,562. Bitcoin crashed $463 to $5,111.


The markets closed modestly higher with the Dow gaining 40 points to 22,997 as import and export prices rose more than expected in September. Nasdaq held steady at 6,623.


On the upside


Brookfield Renewable Partners (NYSE: BEP) completed its acquisition of a 51% interest in TerraForm Power (Nasdaq: TERP).


Syntel (Nasdaq: SYNT) reversed year ago losses to post a stronger than expected profit for the third quarter.


Stifel Nicolaus affirmed its Buy rating on Cloud Peak Energy (NYSE: CLD).

 

On the downside


Wells Fargo downgraded Immune Design (Nasdaq: IMDZ) from an Outperform rating to a Market Perform rating.


Shares of Ardelyx (Nasdaq: ARDX) extended its losses.

 

Aveo Oncology (NYSE: AVEO) will present results from the Phase 1 portion of the Phase 1/2 TiNivo study at the 16th International Kidney Cancer Symposium.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added a point to 2,559. Bitcoin plummeted $123 to $5,581.


The markets traded mixed during the midday with the Dow rising 18 points to 22,975 while Nasdaq slipped 2 points to 6,621.


GPS device maker Garmin introduced a new Alexa enabled speaker for use in cars. The compact Garmin Speak mounts on the front windshield, connects to speakers through the car stereo system and works through a smartphone app. The Speak provides driving directions, plays music and can receive incoming calls.


Airbus will acquire a 50.01% stake in Bombardier's CSeries aircraft program for $1.00 and its marketing services. Airbus may use its Alabama assembly facility to build CSeries jets in order to exempt the aircraft from a proposed 300% tariff that the U.S. Commerce Department was pursuing. Boeing had accused Canadian Bombardier earlier this year of dumping its CSeries jets in the U.S. at unfairly low prices.


UBS surveyed its bankers in London about their relocation preferences. In order to offer its products and services across the European Union, the Swiss bank must maintain a subsidiary in an EU country. Amsterdam, Frankfurt and Madrid are the three options that UBS is considering for its post Brexit operations.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a point to 2,556. Bitcoin tumbled $98 to $5,606.


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