Specialist Glenn Carell, right, and colleague Gaetano DiPisa work at their post on the floor of the New York Stock Exchange earlier this month. (AP Photo/Richard Drew)
U.S. stocks mostly fell Friday after fears about war in the Middle East collided in financial markets with hopes for stronger profits at big U.S. companies.
Oil prices leaped, and Treasury yields fell after Israel’s military ordered the evacuation of northern Gaza ahead of a possible ground invasion. But several U.S. banking giants at the same time said their profits during the summer were better than feared, which offered hope on Wall Street for an earning reporting season that may deliver the first growth for big companies in a year.
All the push and pull sent the S&P 500 down by 21.83 points, or 0.5%, to 4,327.78. The Dow Jones Industrial Average edged up by 39.15, or 0.1%, to 33,670.29, and the Nasdaq composite dropped 166.98, or 1.2%, to 13,407.23.
Microsoft closes deal to buy Call of Duty maker Activision Blizzard after antitrust fights
Microsoft has completed its purchase of video game-maker Activision Blizzard for $69 billion, closing one of the most expensive tech acquisitions in history that could have repercussions across the video game industry.
The notice that the deal has gone through came seven hours after Microsoft got final approval from Britain’s competition watchdog, which reversed its earlier decision to block the $69 billion gaming deal, removing the last obstacle for the transaction. The nearly two years it took to close the deal reflected concerns from rivals and government regulators that Microsoft could use its growing collection of games to lessen competition.
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