Gap Sales Beat Estimates on Celebrities, Collaborations

Gap Inc. has raised its fiscal-year sales growth outlook to between 1.7% and 2%, following a quarterly profit of $236 million. This positive financial performance reflects the company's ability to meet growing demand across various income levels.

Gap has raised its guidance following a strong performance in its Q3 results, which exceeded analysts' expectations. The company's shares experienced a significant increase as a result of this positive news. This development reflects growing investor confidence in Gap's financial health and future prospects.

U.S. stocks declined as technology shares reversed gains following earnings reports, leading to a negative sentiment in the market. This downturn was highlighted during Bloomberg's comprehensive coverage of the market close, featuring analysts Romaine Bostick, Katie Greifeld, Carol Massar, and Tim Stenovec.

The September payrolls report indicates job growth exceeding expectations, with the U.S. adding 119,000 jobs. However, the unemployment rate has risen to 4.4%. Bloomberg analysts discuss these findings, alongside insights on private credit challenges and advancements in bionic limb technology.

Gap reported earnings that exceeded analysts' expectations by $0.04, with revenue also surpassing estimates. This positive financial performance reflects the company's effective strategies and strong market position. The results indicate growing investor confidence in Gap's ability to navigate the competitive retail landscape.

Blue Owl Capital Inc. has canceled a planned merger of its private credit funds due to concerns over potential investor losses. The company will collaborate with the fund's board to explore liquidity solutions, which may include asset sales or fund listings. The decision comes amid rising stress in the private credit market, where borrowers are facing challenges with liabilities and lenders are seeing reduced earnings from loans.

The S&P 500 index ended its four-day losing streak, showing a positive shift in the U.S. market as investors awaited Nvidia's earnings report. This recovery comes after a period of declines attributed to concerns over Nvidia's performance and broader market volatility. The closing bell coverage was provided by Bloomberg Television and Radio.

On Bloomberg Businessweek Daily, hosts Carol Massar and Tim Stenovec discussed the October FOMC minutes, revealing that many officials are hesitant about a rate cut in December. Bloomberg analysts Michael McKee and Stuart Paul provided insights on this development. The episode also covered Blue Owl's decision to cancel a merger of its private credit funds, alongside discussions on Lowe's exceeding profit expectations and TJ Maxx's strong performance amid a rise in frugal consumer behavior.