Other news

On Monday, Bank of America Corp (BofA) representatives announced that its quarterly profit decreased less than expected 9% in view of interest rate growth, which supported the bank’s interest income and compensated a decline in investment banking.

On Monday, the trading week gave way to a stock rally in the US market. It was affected by the revised UK economic plan. In addition to this, the Bank of America's strong earnings results lifted optimism about the corporate earnings season.

On Tuesday, Oct. 18, Netflix Inc. is expected to report for the third quarter of 2022. The company's subscriber growth forecast will be in the spotlight as the streaming leader launches a new ad-supported plan to compete with other industry giants.

All efforts are currently being put by Google, a division of the Alphabet conglomerate, into adding features to its YouTube online service for video streaming. An addition of some homescreen widgets for iPad and iPhone devices has become one of the most notable recent updates.

On Tuesday, there was a slight change in the price of gold. Now it hovers around $1,650.

Morgan Stanley analyst Erik Woodring warned that a sharp drop in sales of personal computers and consumer electronics during recent quarters would negatively affect computer hardware stocks.

Intel believes its self-driving car division Mobileye Global Inc. will be priced significantly lower than previously estimated during its initial public offering, as reported by Corrie Dribush from The Wall Street Journal.

The housing market will be a big part of economic news in the coming week. Lately the real estate sector has been under pressure from rising inflation, also been impacted by rising borrowing costs and slowed economy rates.

The UK’s finance minister Jeremy Hunt is ready to announce plans to clean up the country’s financial system in order to calm down markets, which still show discontent with the economic program suggested by Prime Minister Liz Truss.

Apple has temporarily halted its plans on using memory chips by Yangtze Memory Technologies Co.