BONDS GET SMOKED: Here’s what you need to know

source
Pixabay

Business Insider has launched Markets Insider,which combines the best of Business Insider with real time market data. You can follow the site on Twitter @MktsInsider, and on Facebook.

US stocks closed lower but little changed on Thursday, while crude oil finished higher for the first time in four trading sessions after more OPEC-related rumors surfaced.

Reuters reported that Saudi Arabia and its Gulf OPEC allies are considering cutting their production by 4%.

Treasurys fell, sending longer-dated yields to their highest level of the year since May.

First, the scoreboard:

    Dow: 18,169.68, -29.65, (-0.16%) S&P 500: 2,133.04, -6.39, (-0.30%) Nasdaq: 5,215.97, -34.29, (-0.65%) 10-year yield: 1.839%, +0.049

Twitter beat on earnings and revenues, but said that it is laying off 9% of its workforce and killing Vine. The company posted revenue of $616 million, an 8% lift year-over-year, and an adjusted profit of $0.13 a share in the three months that ended September 30. Monthly active users grew 3% year-on-year to 317 million – up 4 million from last quarter. Qualcomm has agreed to buy NXP Semiconductors for $47 billion in an all-cash deal. The deal is the largest in the history of the semiconductor industry. Qualcomm has agreed to pay $110 a share for NXP, an 11% premium over NXP’s closing price on Wednesday. Ford’s third-quarter earnings beat expectations. The automaker made $0.26 per share on an adjusted basis, on $35.9 billion in revenue. Analysts had expected $0.21 per share. Ford joined Detroit rivals General Motors and Fiat Chrysler Automobiles in reported better-than-expected earnings in Q3, amid concern in the industry that the US auto sales market has peaked. The biggest IPO of the year got off to a disappointing start. Shares of Chinese package delivery company ZTO Express opened at $18.40 per American Depository Share, below the initial public offering price of $19.50. The company raised $1.4 billion in the IPO on Wednesday as early backers cashed in on China’s booming online-shopping industry. Initial jobless claims fell less than expected last week, by 2,000 to 258,000. Economists had expected a reading of 256,000. This is the 86th consecutive week that claims have been below 300,000 – the longest streak since 1970. Durable goods orders fell 0.1% in September, more than forecast, according to a preliminary release. The headline drop was due to a plunge in orders for defense aircraft and parts. Durable goods orders provide a window into business spending, which has contracted every quarter since the last three months of 2015. Pending home sales grew by 1.5%, better than the forecast for a 1% increase. The jump brought the pending sales of single family homes, condos and co-ops to their fifth-highest level of the last year, according to the National Association of Realtors.

Additionally:

Trump campaign unveils plan to spend $1 trillion on roads, bridges, and other infrastructure with no tax hikes

Health insurer Aetna beat on earnings despite ‘pressure’ from its Obamacare business

Tronc and Gannett crash on a report that banks have backed out of financing their deal

The Cheesecake Factory has great news for the US economy