Bank of America shares troubling jobs market data

Friday, October 17, 2025

The week is ending with a lot of uncertainty, and you see it in stocks. The Dow opened higher and was up as many as 216 points before fading to a 90-point gain. But the Standard & Poor’s 500 Index was down slightly. The Nasdaq Composite was down more than 80 points, and the Russell 2000 Index was off 1.2% to 2,438.

Seven of the S&P 500’s 11 sectors are showing small gains, led by Consumer Staples stocks.

The problem may simply be some investors are taking profits, selling stocks that have fat gains of late. Oracle is down more than 7%. Broadcom is off 3.1%. Apple, Microsoft and Nvidia are off modestly. Tesla is higher.

Friday Reading:.

• Walmart partners with OpenAI to bring AI-assisted shopping to millions
• Semiconductor giant unveils next-gen physical AI solution
• Ulta Beauty takes on Amazon with generous offer for customers
• Spectrum launches bold new offer as cable TV customers flee
• Walmart announces convenient new service for car owners

The earnings news was OK, especially from financial services giant American Express, up nearly 6% to $342 after easily beating Wall Street estimates on third-quarter earnings. Amex’s customers are typically affluent, and they’re spending.

Visa, which reports third-quarter results on Oct. 28, will likely paint a different picture of consumer spending. The credit-card company’s monthly spending momentum index suggests consumer spending is contracting.

The 10-year Treasury yield is higher today after falling under 4% on Thursday. Gold and silver are down after hitting new highs on Thursday. Crude oil is flat at $57.56.

TurboTax Via TheStreet

• How to organize tax and financial documents like the pros
• A guide to Social Security tax
• 5 tax breaks for veterans

-- Charley Blaine

Bank of America shares troubling jobs market data

Here’s what could happen to the Federal Reserve’s interest rate next.

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