Mortgage rates are carving their own path. And dreamers are emerging with tonight’s big drawing. A strong day on Wall Street led by Chevron, and Caterpillar, and earnings results from two tech titans: Amazon and Apple.
The Dow gained 315, 1%, to close at 32,845.
The S&P was up almost 1.5% or 57 points.
The Nasdaq jumped 228, almost 2%.
Just a day after the Fed hiked its benchmark rate, mortgage rates went the opposite direction. Down to 5.22%, from 5.54% on Wednesday. Rates brielfy crossed 6% in mid-June. This drop also follows the recent GDP report showing our economy contracted for the second straight quarter.
We’ve got a date! The Elon Musk – Twitter trial hits the Delaware courtroom October 17th. Twitter is suing Musk for pulling out of a $44 billion acquisition. Musk claims Twitter isn’t being honest about spam accounts.
And we can’t talk money without talking mega millions. Tonight’s drawing is for $1.28 billion, with a cash option of $747 million. Odds remain the same, 1 in 302 million. It is now the third largest lottery jackpot ever. What’s the first thing you buy if you win? Hmm…
From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.