Stocks shrug off big tech earnings setbacks

Markets moved higher for a third straight week despite some disappointing earnings reports from the biggest technology companies which wiped off hundred of billions of dollars from their valuations. The blue-chip S&P 500 and technology focussed Nasdaq gained 2.0% and 0.3% respectively. The Dow Jones Industrial Average returned 14.0% during the month, its best October since 1976.

Four out of the five biggest technology companies suffered some sharp falls after reporting third-quarter earnings which fell short of expectations. Only Apple got through the week unscathed.

TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.

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