U.S. stock indexes closed lower after Fed Chairman Powell said there’s no rush to cut rates, dampening investor optimism. He noted the economy shows no signs of needing urgent rate cuts and emphasized patience, as inflation nears the Fed's 2% target.

Focus Stocks

• Dow Jones fell 207.33 points (-0.47%) to 43,750.86
• Nasdaq dropped 123.07 points (-0.64%) to 19,107.65
• S&P 500 declined 36.21 points (-0.60%) to 5,949.17
• Tech Stock: Google, Amazon fell over 1%, Apple rose over 1%

Company News

Amazon Launches Fixed-Fee Health Services $Amazon.com, Inc. AMZN$ : Amazon now offers Prime members fixed-rate online medical services for aging, motion sickness, hair loss, and ED. The service includes 24/7 consultations and discounted meds via Prime Rx. Hims & Hers stock dropped 24% following the news.

EMA Recommends Leqembi for Early Alzheimer's: The European Medicines Agency (EMA) recommended Leqembi for early Alzheimer's treatment after re-evaluating its benefits for mild cognitive impairment.

Ford Fined $165M for Recall Violations: Ford will pay a $165M fine for failing to comply with federal recall rules, stemming from delayed rearview camera recalls and incomplete info.

FTC to Probe Microsoft’s Cloud Business $Microsoft Corporation MSFT$ : The FTC is investigating Microsoft for anti-competitive behavior in cloud services, including unfair pricing and incompatibility with rivals.

BlackRock’s Q3 Tech Investments: BlackRock boosted its tech holdings in Q3, buying millions of shares in Apple, Microsoft, Nvidia, and others, raising its portfolio value to $4.76T.

Buffett’s Q3 Moves: Pizza and Sell-offs: Berkshire Hathaway bought Domino’s Pizza and Pool Corp, while reducing its Apple stake by 100M shares and trimming other holdings, lowering its portfolio value to $2.66T.

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