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- UnitedHealth keeps medical costs under control — and raises its outlook again
- UnitedHealth Group tops estimates, hikes profit outlook as insurer manages high medical costs
UnitedHealth Group reported third-quarter adjusted earnings of $4.69 per share, above the $4.14 analysts expected, and raised its fiscal 2026 adjusted earnings outlook to at least $20.50 per share from $19.50 to $20. Revenue reached $112.69 billion versus $111.40 billion expected. Its medical cost ratio came in at 88.4% against an expected 89.9%, but CFO Wayne DeVeydt said costs remain elevated versus historical norms, with the No Surprises Act dispute resolution process adding at least 1 percentage point. The company is shrinking membership, exiting unprofitable contracts, and investing in value-based care and AI, with acute hospital admissions down 15% and home health admissions up 10%. Net income was $4.11 billion, or $4.56 per share.
- Australian consumer confidence falls as inflation concerns rise
Australians recorded one of the steepest falls in consumer confidence among developed countries over the past year, as stubborn inflation and rising interest rates squeezed household budgets. According to OECD figures, Australian consumer confidence fell 1.1 index points in the 12 months to September, with only Chile and Belgium recording sharper declines. The article says the drop highlights the Albanese government's struggle to convince voters it is doing enough to address cost-of-living pressures.
- Bank of Canada warns energy costs threaten inflation targets
- Inflation next wave could be building as energy costs spread through economy
The producer price index rose 1.3% in September from August and 6.3% from a year earlier, the fastest wholesale inflation since 2022, driven mainly by higher fuel costs. Transportation and warehousing prices jumped 3.4% in September and are up 16% year over year, while core inflation reached 2.6% annually. Diesel averaged $6.32 a gallon, versus $3.64 a year ago, squeezing business margins and raising the risk that companies will pass costs on to consumers. Heavy spending on AI data centers is also pushing up prices for chips, computer parts and electrical components. Markets widely expect the Fed to raise rates once more this year, though the timing remains uncertain.
- Inflation next wave could be building as energy costs spread through economy
The producer price index rose 1.3% from August to September and 6.3% from a year earlier, the fastest wholesale inflation since 2022, with transportation and warehousing costs up 16% year over year as fuel prices spread through supply chains. Core consumer prices, excluding food and energy, rose 2.6% from a year earlier and 0.3% month over month, a sign pressures are extending beyond energy. Diesel averaged $6.32 a gallon versus $3.64 a year ago, according to AAA, and businesses warn they may pass costs to consumers already under strain, as Navy Federal Credit Union's Heather Long noted. AI data-center construction is also lifting prices for chips and electrical components, while the Fed has already raised rates and markets widely expect another hike this year.
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Latest news
- Bitcoin ETFs just saw their biggest day in a month thanks entirely to BlackRock
U.S. spot bitcoin ETFs took in $526.6 million on Monday, the largest daily net inflow in nearly a month, driven entirely by BlackRock's iShares Bitcoin Trust (IBIT), which pulled in $665.2 million, its biggest daily inflow since Oct. 7 last year, according to SoSoValue data. Fidelity's FBTC lost $83.6 million and Grayscale's GBTC shed $54.9 million, while the remaining funds recorded no net flows. The inflow more than erased last week's $228.5 million of withdrawals, but funds remain about $90.5 million in net outflows for October, according to CoinDesk calculations. Ether funds moved the opposite way, losing $103.3 million in their fourth consecutive session of outflows, with BlackRock's ETHA accounting for $95.4 million of that.
- A Big4 bank cut deposit rates in the morning, then raised them again in the afternoon
VietinBank cut its deposit rates for terms of 6 months and longer on the morning of Oct. 20, then restored them to pre-adjustment levels by the afternoon. Its afternoon rate board showed 3.5% per year for 6 to under 12 months, 5.9% for 12 to under 24 months and 6% for 24 months and longer, versus 3%, 5.4% and 5.5% in the morning. Rates for terms under 6 months stayed unchanged, including 2.1% for 1 to under 3 months and 2.4% for 3 to under 6 months. The move came as banks followed the State Bank of Vietnam's guidance to cut deposit rates by at least 0.5 percentage points for terms of 6 months and longer, and Vietcombank and Agribank were among those reducing rates.
- IVV vs. SPY: Which S&P 500 ETF Is the Better Buy for Long-Term Investors?
The article compares two ETFs that track the S&P 500, iShares Core S&P 500 ETF (IVV) and State Street SPDR S&P 500 ETF (SPY), which have nearly identical holdings. The main difference is the expense ratio: IVV charges 0.03% a year, one-third of SPY's 0.09%, and its distribution yield is about 1.1% versus 1% for SPY. SPY's high liquidity remains valuable for active traders. The article concludes that IVV is the better choice for long-term investors, since lower costs can compound over time.
- Warren Buffett Is Issuing a Stark Warning About the Stock Market. Here's What History Says Comes Next.
Warren Buffett has warned that investors are taking on too much risk, likening the market to 'a church with a casino attached' and saying people have never been in a more gambling mood. The article points to the S&P 500 Shiller CAPE Ratio, which has stayed above 40 since May of this year; historically, the only other time it held above that level for months was during the dot-com bubble, when it peaked around 44 before the bear market began in March 2000. The article notes that 40 is not an automatic trigger for a downturn, and no metric can predict timing. It suggests investors focus on quality stocks with solid fundamentals and be ready to hold them for at least a few years.
- Early Uber Investor Jason Calacanis Predicts Waymo Could Buy Lucid Or Rivian — Calls Its Chinese-Car Optics ‘Really Bad’
Early Uber investor Jason Calacanis predicts Waymo will buy Lucid Group (LCID) or Rivian Automotive (RIVN), arguing that its reliance on Chinese-made Zeekr vehicles creates cost and reputational problems. He says the arrangement is technically not illegal today, but Waymo would need to pay a tariff of over 100%, and it has drawn national-security concerns on Capitol Hill. According to Semafor, Waymo aims to grow its fleet from about 4,000 vehicles to 8,000 by the end of 2026 and 20,000 by the end of 2027, after closing a $5 billion term loan and a $16 billion equity raise this year. Uber has committed to buying at least 35,000 Lucid vehicles, while its Rivian deal starts with 10,000 autonomous R2 SUVs, with rides expected to begin in 2028. Calacanis, who recently bought small stakes in Lucid, Rivian, WeRide (WRD) and Pony.ai (PONY), expects consolidation in the autonomous-driving sector within 24 months.
- Prediction: Oct. 21 Will Be a Huge Day for the Stock Market
The article predicts October 21 could be a pivotal day for the stock market, as Meta Platforms (META) becomes the first of the "Magnificent Seven" tech giants to report third-quarter earnings after the close. In its latest quarter, Meta's total revenue rose 28% to $60 billion, with ad revenue at $59 billion. Investors will be watching whether its capital spending, now about 35% of revenue, is translating into growth. Meta's report could hint at the earnings outlook for other tech giants and set the direction for the S&P 500 in the coming days, with the first trading session after the report on Thursday.
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