S&P Dips from Record Friday, but Enjoys Winning Week

The S&P 500 edged lower a day after the benchmark closed at a record.

The Dow Jones Industrials recovered from several hours in negative territory to gain 73.94 points to 35,677.02, helped by a 4% rise in shares of American Express, which reported strong quarterly earnings Thursday. The ascent on the week was 382 points, or 1.1%.

The S&P 500 lost 4.88 points on the day to 4,544.20, still strengthening 73 points, or 1.6%, on the week.

The NASDAQ Composite fell 125.5 points to 15.090.20, after poor results from two technology companies. Still, the rise on the week was 193 points, or 1.3%.

Shares of Intel retreated more than 11% following a weaker-than-expected sales report. The semiconductor company blamed an industry-wide chip shortage for its revenue miss.

Social media stocks also dropped after Snap said its advertising business declined due to Apple’s privacy changes. Snap shares sunk more than 25%. … Read more

Fears over the future of free debt advice

There is growing concern that free, face-to-face advice which helps hundreds of thousands out of debt each year could be cut.

New contracts from the Money and Pensions Service (MaPS), which funds most free debt advice in England, will see more money spent on help given over the phone or online.

Debt advisors says that risks leaving some people behind.

MaPS says the new contracts will provide more help to more people.

Jane, that’s not her real name, got into £2,000 worth of debt a couple of years ago.

She says getting advice in person was crucial in helping her get her finances back in order.

“I found an organisation near me and they were really lovely,” she says.

“I went in, we sat around, there was a team of people that worked in different areas.”

‘Part of a team’

“Someone was contacting the council for me while I was … Read more

Begin P2P Cryptocurrency Trade Platform Like LocalBitcoins

Financeteam is a finance related blog that began in 2015 for sharing expertise and information of finance and enterprise. Read writing from group.finance on medium.

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Central Bank Reports Wednesday

Central Bank Reports Wednesday

Monday

U.S.

Featured Earnings

Facebook Inc. (NASDAQ:FB) (Q3) EPS projected to $3.16, compared to $2.71 in the prior-year quarter.

Southern Copper Corporation (NYSE:SCCO) (Q3) EPS projected to $1.13, compared to 65 cents in the prior-year quarter.

Kimberly-Clark (NYSE: KMB) (Q3) EPS projected to $1.66, compared to $1.72 in the prior-year quarter.

Canada

Tuesday

U.S.

Economic Lookahead

S&P Case-Shiller home price index (Aug.)

Consumer confidence index (Oct.)

New home sales (Sept.)

Featured Earnings

Alphabet Inc. (NASDAQ:GOOGL) (Q3) EPS projected to $23.13, compared to $16.40 in the prior-year quarter.

Microsoft Corporation (NASDAQ:MSFT) (Q1) EPS projected to $2.06, compared to $1.82 in the prior-year quarter.

VISA Inc. (NYSE:V) (Q4) EPS projected to $1.53, compared to $1.12 in the prior-year quarter.

Canada

Featured Earnings

Canfor Corporation (T.CFP) (Q3) EPS projected to $1.75, compared to $5.76 in the prior-year quarter.

Canfor Pulp Products Inc. (T.CFX) (Q3) EPS projected to 28 cents, … Read more