Reuters - Business Today

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Friday, October 27, 2017

U.S. economy grows 3 percent in third quarter on inventories, trade

WASHINGTON (Reuters) - The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction.

Dovish ECB, earnings, lift European shares to five-month high

LONDON (Reuters) - European shares hit a five-month high on Friday, underpinned by strong earnings and a sharp drop in the euro a day after the European Central Bank took a cautious route to scaling back stimulus.

Exxon's third-quarter profit beats expectations despite Harvey dent

HOUSTON (Reuters) - Exxon Mobil Corp , the world's largest publicly traded oil producer, posted a higher-than-expected quarterly profit on Friday as higher crude and natural gas prices more than offset the effects of a major hurricane on U.S. operations.

Wall Street loves electric cars, America loves trucks

DETROIT (Reuters) - Wall Street may love the shares of Silicon Valley electric carmaker Tesla Inc , but Americans love big, fuel-thirsty trucks like Ford Motor Co's bestselling F-Series pickups and are paying ever higher prices to buy them.

Chevron profit misses estimates on output decline; shares dip

HOUSTON (Reuters) - Chevron Corp reported a lower-than-expected quarterly profit on Friday as U.S. production slipped, offsetting a rise in oil and natural gas prices.

Futures jump after strong tech earnings

(Reuters) - Solid results from tech titans Amazon and Google-parent Alphabet were seen driving the U.S. stock index futures higher on Friday.

Place your bets for the Brexit rate hike

LONDON (Reuters) - To hear some economists talk, the Bank of England is about to make a big mistake - raise interest rates just as the economy heads into what could be a major storm.

No end in sight for tech giant share gains

(Reuters) - How much bigger can the world's biggest tech companies get?

Self-driving startups race down a narrowing road

DETROIT/SAN FRANCISCO (Reuters) - Lei Xu and Justin Song once worked at electric carmaker Tesla Inc , one of the hottest companies in Silicon Valley. But with interest and investments in autonomous vehicles mounting, they left to pursue what they see as the next big thing.

As Trump tax comes to floor, failure could spell stocks selloff

NEW YORK (Reuters) - Investors are increasingly pricing in the effect of a corporate tax cut into the shares of U.S. companies, leaving the market primed for a steep sell-off if the Republican-controlled Congress fails to pass one of President Donald Trump's top priorities.