On today’s episode of Free Lunch, Ryan McQueeney recaps morning news from Wall Street, including tensions between the U.S. and Saudi Arabia, big bank earnings, and historic data from Activision Blizzard. The host also covers the bankruptcy of Sears, September’s retail sales results, and holiday shopping expectations.
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Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
U.S. stocks were down in early morning trading Monday, with tech stocks once again taking the brunt of the volatility. Despite a decent rebound on Friday, investors simply were not ready to forget about the headlines which caused volatility last week, and mounting tensions between Western powers and Saudi Arabia only added to concerns over the weekend.
On the earnings side of things, Bank of America (BAC – Free Report) reported its latest quarterly results before the bell, notching bottom-line growth of 43% and topping expectations for both profits and revenue. The bank joined peers JPMorgan (JPM – Free Report) , Wells Fargo (WFC – Free Report) , and Citigroup (C – Free Report) in posting better-than-expected results in the early days of Q3 earnings season.