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U.S. stock indexes climbed and Treasury yields retreated after Atlanta Federal Reserve Bank President Raphael Bostic said further interest rate increases won’t be necessary to bring inflation under control.
Yields on benchmark 10-year notes fell below 4.7%.
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Marketwatch:
Unity Software (U): shares rose 4.6%.
PepsiCo (PEP): stock rose 1.6%
Palantir (PLTR): The stock rose around 2% in early trading.
LVMH Louis Vuitton (LVMUY): The luxury goods maker is due to report quarterly revenue after the market closes.#stockstowatch #markets pic.twitter.com/5JKGOWhIBC— The_Journalbiz (@the_journalbiz) October 10, 2023
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Oil prices edged lower after jumping Monday on concerns that the Israel-Hamas war could escalate into a broader conflict in the Middle East.
Unity Software (U): The tech company said late Monday that CEO John Riccitiello was stepping down. Stock in Unity, which operates a platform for developing videogames and other software applications, rose about 4.6%.
PepsiCo (PEP): The beverage maker’s stock rose 1.6% in early trading after it reported consensus-beating earnings and raised its guidance.
Palantir (PLTR): The data-mining company said it had secured an army contract worth up to $250 million through 2026. Palantir stock rose around 2% in early trading.
LVMH Moët Hennessy Louis Vuitton (FR: MC), (LVMUY): The luxury goods maker is due to report quarterly revenue after the Paris market closes.
