Stocks Up Slightly After Best Week This Year; Google-Epic Trial Begins; Yellen-China Talks Before Biden-Xi Meeting; Most Companies Beating Earnings Estimates; Disney Names New CFO
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Stocks rose slightly on Monday after logging their best week this year amid optimism the Fed may pause rate hikes. The Nasdaq gained 0.3%, the S&P 500 rose 0.2%, and the Dow increased 0.1%.
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Google's trial with Epic Games over claims it abused mobile app store power kicks off. Epic says Google unfairly booted Fortnite from the Play Store.
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Janet Yellen and China's vice premier will meet this week to ease economic tensions. It comes before President Biden and Xi Jinping's expected meeting.
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Nearly 75% of S&P 500 companies are beating Q3 earnings estimates so far. Total earnings growth is 2.6% and revenue growth is 1.1%.
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Disney announced longtime PepsiCo exec Hugh Johnston will become its new CFO starting in December. He replaces Christine McCarthy.