Private employment increased by 42,000 jobs last month after an upwardly revised decline of 29,000 in September, the ADP National Employment Report showed on Wednesday. Economists polled by Reuters had forecast private employment would rise by 28,000 jobs after a previously reported drop of 32,000 in September.

taking advantage of multiyear low prices caused by the current glut. China has spent months building up its oil reserves. That might come in handy in the wake of the new sanctions the U.S. recently imposed on Russian crude. During the first nine months of the year, the world’s second-largest economy imported on average more than 11 million barrels of oil a day, an amount above the daily production of Saudi Arabia, according to official customs data. Analysts estimate 1 million to 1.2 million of those barrels were stashed in reserves each day.

at 54.8, down from 55.2. U.S. services sector activity picked up in October amid a solid increase in new orders, but subdued employment pointed to lackluster labor market conditions against the backdrop of economic uncertainty stemming from tariffs on imports. Not a major data point, but we’ll take whatever crumbs we can get during the government shutdown.

Data compiled by Bank of America shows hedge funds and other large investors are dumping tech stocks at the fastest pace since July 2023. Specifically, the bank looked at net buying and selling activity within the sector on a weekly basis as a percentage of market capitalization. BofA added that net technology single-stock sales topped $5 billion last week, by far the (SPY) sector with the most selling. Those sales have been reflected in the broader market’s recent moves.

but the stock falls anyway. The company earned an adjusted $1.20 per share on revenue of $9.25 billion. Sales increased 36% from this time last year. Analysts polled by LSEG had expected earnings of $1.16 per share and $8.74 billion in revenue. But the company sees an adjusted gross margin of 54.5% for its current quarter, meeting Street Account’s consensus of 54.5%.