Dow went up 337 (near session highs), advancers over decliners better than 5-1 & NAZ gained 246.  The MLP index rose 2+ to the 221s & the REIT index surged 13+ to 362s as Treasury yields dropped.  Junk bond funds were strong & Treasuries had more buying, reducing yields.  Oil crawled up to settle at 85 & gold was up 5 to 1659 (more on both below).

AMJ (Alerian MLP Index tracking fund)

  The stock fell 56¢.
If you would like to learn more about UPS, click on this link:
club.ino.com/trend/analysis/stock/UPS?a_aid=CD3289&a_bid=6ae5b6f7

UPS stock rises after mixed third quarter earnings

IMF says Ukraine needs up to $5B a month as EU, Germany push 'new Marshall Plan'

General Motors (GM) easily beat earnings expectations during Q3, while signaling caution and confirming its full-year results are likely to come in near the “midpoint” of its previously announced forecast.  The automaker stressed that demand for its products remains strong despite outside economic concerns & rising interest rates.  But its profit narrowed in Q3, as its vehicle inventory slowly rises from record lows.  The big beat & narrow miss on the top line has been a trend throughout the coronavirus pandemic for the automaker, as tight supplies of vehicles have led to lower sales but higher profits on in-demand SUVs & pickup trucks.  Despite the bottom-line beat, GM did not adjust its guidance for the year as profit margins narrowed.  The company expects full-year net income of $9.6-11.2B & adjusted earnings before interest & taxes of $13-15B ($6.50-7.50 per share).  CFO Paul Jacobson said the company expects to hit the “midpoint” of its earnings guidance for the year.  He added that the automaker is not ignoring outside economic concerns but has not seen “any direct impact” on its products.  “We’re going to continue to be agile,” he said.  “We continue to see that strong demand.”  On an unadjusted basis, net income was $3.3B, up $885M from a year earlier.  Its earnings powerhouse, as it has been, was North America with adjusted earnings of $3.9B, up from $2.1B a year earlier.  Earnings also increased $60M in China compared with Q3 of 2021, while the company's financial arm saw its earnings drop to $911M, down $182M from a year earlier.  The stock rose 1.32.
If you would like to learn more about GM, click on this link:
club.ino.com/trend/analysis/stock/GM?a_aid=CD3289&a_bid=6ae5b6f7

GM posts big third-quarter earnings beat but holds full-year guidance steady amid 'headwinds'

Gold futures ended higher, buoyed by weakness in the $ index & a pullback in Treasury yields. With recent weakness in bond yields & $, gold has been able to find some relief.  However, compared to the recovery we have seen in Western stock indices, the precious metal has clearly under performed.  The key question for gold investors is whether bonds will resume their sell-off, with 3 major central banks set to decide on monetary policy this week & more next.  Gold for Dec delivery rose $3 to settle at $1658 an ounce.

Gold prices end higher, scoring a boost from a retreat in the U.S. dollar and bond yields

Oil futures settled higher, with prices recovering what they lost a day earlier & then some.  Oil prices, in the short term, are locked in a bit of a trading range.  The markets are still being influenced by concerns about the global economy & interest rates.  But when the oil market tries to ignore the $, it can't.  When the $ shows strength, it pushes downward pressure on oil.  Still, as the market gets into the winter season, there should be a disconnect between the $/oil relationship because oil is going to be needed.  US benchmark West Texas Intermediate crude for Dec rose 74¢ ( 0.9%) to settle at $85.32 a barrel.  Natural-gas futures, meanwhile, rallied for a 2nd straight session, rebounding after losing 23% last week as warmer-than-usual US weather forecasts dulled the outlook for demand.  Nov natural gas rose 41¢ (8%) to settle at $5.613 per M British thermal units. 

Oil prices bounce back from Monday’s losses; natural-gas futures rally

Dow Jones Industrials