TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Monday, November 6.
Full Video Transcript Below:
J.D. DURKIN: I'm J.D. Durkin - reporting from the New York Stock Exchange. Here's what we're watching on TheStreet today.
Stocks are coming off their best week of the year as investors hold out hope that the Federal Reserve is nearing the end of its rate hike cycle. Investors will be looking for further clues when Fed Chair Jerome Powell speaks later this week.
Meanwhile, earnings season is coming to an end... 80 percent of S&P 500 companies have already reported third-quarter results. Of these, over 82 percent have surpassed Wall Street expectations. This week, investors will be watching for earnings from big names like Disney, Uber, and Lyft.
In other news here at TheStreet - former President Donald Trump will take the stand today in his $250 million civil fraud trial.
The case, brought forward by New York Attorney General Letitia James, alleges that Trump and his sons intentionally inflated the values of several assets in order to obtain various financial benefits. For example, documents indicate Trump valued his Mar-a-Lago house between $426 million to $612 million. However, the property had been appraised for less than $30 million by a Palm Beach County assessor.
The former president has repeatedly denied those numbers, as well as others, saying on his Truth Social platform, "My worth is far greater than on financial statements, plus they contain a full disclaimer clause telling readers of this information to do their own due diligence and analysis."
In his first deposition for the case, Donald Trump invoked the Fifth Amendment almost 450 times.
That'll do it for your daily briefing. From the New York Stock Exchange, I'm J.D. Durkin with TheStreet.
