S&P Tops 6,800 as Trade Deal Hopes Build | Closing Bell

Market Trends & Sentiment - US equities are largely green, with the Dow Jones Industrial Average up more than 300 points or 0.7% [6] - A risk-on appetite is enveloping the market, indicated by materials and consumer staples sectors being in the red [11] - Market shows complacency with the VIX at just under 16 [6] Company Performance & Earnings - Avis Budget's third-quarter revenue slightly exceeds estimates at $35 billion versus the street estimate of $345 billion, with America's per unit fleet costs down 20%, stock unchanged in the aftermarket initially but later up 9% due to adjusted EBITA surpassing estimates at $559 million, up 11% year-over-year [8][17] - Cadence's EPS beats estimates at $193 versus $079, with revenue also beating estimates at $134 billion versus $132 billion, showing 10% revenue growth and 17% bottom-line growth, but shares move lower due to guidance for the full year expecting $526 billion to $529 billion [13][14] - Bed Bath & Beyond's third-quarter net revenue is just shy of estimates at $2572 million versus $260 million, but the adjusted EBIT loss is much better than expected at $494 million, shares up 10% after hours [15][16] - Whirlpool reports net sales above expectations at $43 billion versus $393 billion, with ongoing EPS at $209 per share versus the street's $040, and full-year EPS guidance at $7 per share, higher than the average street estimate of $641, shares pop 1% in after-hours trading [22][23][24] - Keurig Dr Pepper is up 76% after raising $7 billion from Apollo and KKR to finance its acquisition of JD Peet's NV, planning to separate beverage and coffee businesses by the end of 2026, and reporting third-quarter sales of $43 billion [18][19] Mergers & Acquisitions - Huntington Bank agrees to buy Cadence Bank for $74 billion, indicating consolidation among regional banks [19] - First Citizens and Pak National Bank are in a tie-up [20] - Newmont is studying a potential deal to gain control of rival Barrick Mining's Nevada gold assets, shares down 57% [21] Technology Sector - Qualcomm is the number one gainer in the S&P 500 and NASDAQ 100, up as much as almost 22% intraday, finishing up 11%, unveiling chips and computers for the data center market [12] - Amazon is reportedly laying off 30000 corporate workers, citing being over-hired [4]