U.S. Stocks Rise Ahead of Tech Earnings

The S&P 500 ticked higher, rebounding after fresh data showed jobless claims dropped and the economy expanded sharply in the third quarter. 


 
Economy Surges but Hasn't Recouped All Pandemic Losses

Gross domestic product rose 7.4% in the third quarter from the prior quarter. The increase offset a good chunk of the record drop in output earlier in the year, when the virus and related shutdowns disrupted business activity. 


 
ECB Signals Further Stimulus Ahead

The European Central Bank intends to scale up its support of the eurozone's economy in December, seeking to cushion the region from fallout of a new wave of coronavirus infections that threatens the currency area anew. 


 
U.S. Jobless Claims Fell to 7-Month Low of 751,000 Last Week

The number of Americans filing initial claims for unemployment fell to the lowest level since the pandemic began, suggesting layoffs are easing despite a rise in coronavirus infections. 


 
U.S. September Pending Home Sales Slip From Record Highs

The Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, fell 2.2% to 130.0 in September, data from the National Association of Realtors showed. 


 
China's Leadership Emphasizes 'Technology Self-Reliance'

The Communist Party's economic blueprint for the next five years sounds a defiant note in the face of U.S. sanctions against Chinese firms, while also targeting per-capita GDP on par with that of countries like South Korea and Spain. 


 
EnCap Has Raised $405 Million So Far for Debut Clean-Energy Fund

After investing in oil and gas for over 30 years, EnCap is one of several private-equity firms diversifying into clean energy. 


 
Accel-KKR Closes First Small-Cap Fund

After wrapping up fundraising for Accel-KKR Emerging Buyout Partners LP fund at its hard cap of $640 million, the firm is armed with capital to invest in software and technology companies smaller than it would back through its flagship funds. 


 
Recovery In Eurozone Confidence Stalled In October

The revival in confidence among eurozone businesses and consumers stalled in October as a surge in coronavirus infections led governments to impose tougher restrictions on households and firms. 


 
O'Brien-Staley Partners Raises $550 Million for Third Fund

CEO Jerry O'Brien sees the coming years as an opportune moment to invest in "unloved" loans, given the economic dislocation caused by the coronavirus pandemic.

(END) Dow Jones Newswires

10-29-20 1515ET