Stock Market Surges as Paramount Benefits from NFL and Streaming, Marking Best Week in a Year
The S&P 500 rose 0.9% as fewer jobs were created in October than expected, raising optimism that the Fed might not raise interest rates further. Paramount Global saw a boost in earnings and revenue due to increased NFL viewership and subscribers to its streaming service. Expedia Group reported record revenue on the back of booming travel demand. Insulet exceeded profit forecasts and raised its outlook as U.S. demand for its insulin pumps surged. Gartner beat profit and sales estimates, attributing its success to businesses seeking guidance in the uncertain macroeconomic environment. Fortinet's shares plunged as its profit, sales, and outlook fell short of estimates, while Church & Dwight faced higher costs and gave guidance below expectations.
