Here are five things you must know for Friday, Oct. 20:
The Dow Jones Industrial Average and S&P 500 turned around by the end of Thursday's session, making a remarkable recovery to end at new records with minor gains. The Dow gained 0.02% after being down more than 100 points at its session low. The S&P 500 gained 0.03%. Tech losses on Thursday led to a 0.29% loss for the Nasdaq.
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Revenue at GE in the quarter was $33.47 billion vs. forecasts of $32.56 billion.
The stock fell 5% in premarket trading on Friday.
There was talk new GE CEO John Flannery could make an announcement on Friday about cutting the dividend at the industrial conglomerate. GE has said publicly that the dividend remains a top priority while conceding it might re-examine planned stock buybacks.
Flannery already has promised a thorough evaluation of the company's portfolio, which ranges from medical equipment to jet engines and locomotives, amid pressure from investors including activist Trian Partners to buoy both profitability and cash flow.
Shares of P&G fell 0.8%.
Trump, who met with Janet Yellen for about half an hour on Thursday, hasn't made a final decision, the officials cautioned.
Powell has been heavily favored by Treasury Secretary Steven Mnuchin, who is leading the search for the Fed chair.
Trump is expected to make the announcement on the next Fed chief before he travels to Asia on Nov. 3, according to published reports.
PayPal said sales for the three months ended in September rose 21% from the same period a year earlier to $3.24 billion, while adjusted earnings in the period were 46 cents a share. Analysts were looking for sales of $3.18 billion and earnings of 43 cents.
Total payment volumes, the company said, surged 30% to $114 billion, a figure that also topped the Wall Street consensus of $109 billion.
PayPal said it expects revenue for the fourth quarter to come in between $3.57 billion to $3.63 billion, a modestly slower growth rate when compared to the third quarter, translating to an earnings per share rate of between 50 cents and 52 cents a share.
TheStreet's Eric Jhonsa noted that given the serious challenges it faces from Apple Inc. (AAPL - Get Report) and Amazon.com Inc. (AMZN - Get Report) , it's hard to overlook the strength of PayPal's brand.
Updated to include earnings from GE and Procter & Gamble.
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Join Jim Cramer, CNBC's Jon Najarian and Other Experts Oct. 28 in New York
Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors.
You can join them as they discuss how smart investors can make the most of options trading, futures contracts, fundamental and quantitative analysis and great ETFs to buy right now. Participants will also get a chance to meet Jim and other panelists and take photos.
When: Saturday, Oct. 28, 8 a.m.-3 p.m.
Where: The Harvard Club of New York, 35 West 44th St., New York, N.Y.
Cost: $250 per person.
- Click here for the full conference agenda or to reserve your seat now.