首先是市场愈发聚焦的资金流数据显示，散户与机构投资者们正不断涌入美股市场，并且更重要的是——技术分析指标 显示在这一整数里程碑之前技术层面阻力非常微弱。作为一种季节性的怪癖——9月与10月往往是股票市场的疲软时 期，然而，刚刚过去的一周在经历过的75年中是对股票市场最为有利的一周。无论是基本面预期、技术面还是资金流， 抑或是历史流数据都已经充分铺垫，标普500指数冲破7,000点这一超级关口可能就是在最近几个交易日。 "推动风险资产走高的催化剂根本不缺少。"来自瑞银证券的对冲基金股票衍生品销售主管Michael Romano周日在致客户 们的一份研究报告中写道。"曾被视为年末7,100点的'蓝天极限情景'，正迅速成为市场的基准情景，因为市场把明年的 上行预期提前反映并定价了。" 对于一些立场谨慎的投资者而言，这种乐观情绪无疑将在本周面临严峻考验，因为驱动美股自2023年以来牛市行情且在 标普500指数中占据高权重的"七大科技巨头"中的五家科技巨擘将于美东时间周三和周四美股收盘之后公布业绩。 智通财经APP获悉，随着一场季节性的剧烈波动基本上已经过去，看涨美国股市的华尔街对冲基金以及机构投资者们正 排队押注标普 ...

Core Viewpoint - Alphabet's stock has seen significant gains, with a 38% increase in Q3, attributed to improved investor sentiment and a favorable ruling in its antitrust case, but concerns remain regarding its position in the AI market [1][3][6]. Financial Performance - Alphabet's revenue growth has been stagnant in the low teens, with expectations of 12% growth next year, leading to recalibrated investor expectations [2]. - Wall Street anticipates Q3 revenue of $99.89 billion, reflecting a 13% growth, and earnings per share of $2.26 [7]. Antitrust Case and Market Position - A recent ruling by U.S. District Judge Amit Mehta allowed Google to retain its Chrome browser but mandated data sharing with competitors, which has implications for its competitive landscape [3][15]. - The ruling is seen as a mixed outcome, with some analysts expressing concerns about Google's competitive position in AI, particularly against emerging players like OpenAI [8][14]. AI Developments - Google is heavily investing in its AI models, particularly Gemini, which is positioned as more than just a competitor to ChatGPT [5][10]. - The launch of Gemini Enterprise targets corporate clients, enhancing Google's capabilities in the AI space [11]. - Analysts expect the upcoming release of Gemini 3 to positively influence investor sentiment towards Alphabet [14]. Competitive Landscape - The AI market is described as highly competitive, with ChatGPT holding an 81% share of the global AI chatbot market, followed by Perplexity and Microsoft Copilot [9]. - Google's data-sharing requirements may benefit competitors like DuckDuckGo and Microsoft Bing, potentially narrowing Google's advantage in search [16].

Good morning. Ruth Porat, Alphabet and Google’s president and chief investment officer, is a former longtime CFO who is strategically evaluating what’s needed for AI to drive economic uplift.“I think we are living in an extraordinary time, and I think of it as a time where there are two speeds,” Porat said during a panel session at the Fortune Global Forum on Sunday in Riyadh, Saudi Arabia.One speed, she explained, is the pace of change, breakthroughs, and scientific discovery. The other is slower—the pace ...

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Spotify.Getty Images Good morning! Here is the latest in trending:More downsizing: Wall Street Breakfast yesterday discussed why hiring is slowing. Today, Amazon (AMZN) announced plans to cut 14,000 corporate jobs, or about 5% of its professional workforce.Making the rounds: President Trump has landed in Japan on the latest leg of his Asian tour. A critical minerals pact was deepened amid pro ...

Core Viewpoint - Alphabet is facing high expectations for its upcoming earnings report, following a significant stock price increase of 38% in Q3, marking its best quarterly performance in two decades, and an additional 11% rise in October, reaching a record high [1][2]. Financial Performance - Revenue growth has been stagnant in the low teens, with projections of 12% growth for the next year, leading investors to adjust their expectations after a period of faster growth prior to the 2022 slowdown [2]. - Wall Street anticipates revenue growth of 13%, estimating total revenue at $99.89 billion and earnings per share at $2.26 [7]. Competitive Landscape - The recent optimism around Alphabet is largely attributed to its position in the artificial intelligence (AI) sector, although its relative weakness in AI compared to its dominance in online advertising has been a significant factor in stock performance [2][5]. - The ruling in Google's search antitrust case, which allowed the company to retain its Chrome browser but required data sharing with competitors, has been a catalyst for stock price increases [3][15]. AI Developments - Google is heavily investing in its AI models and services, particularly the Gemini family, which is expected to drive growth in its cloud unit as businesses increasingly rely on AI technologies [5][10]. - Analysts have raised their price target for Alphabet, citing faster product velocity in Search, Cloud, and Waymo as key drivers of momentum [6]. Market Competition - The competitive landscape for AI is intensifying, with new entrants like OpenAI posing challenges to Google's search capabilities. ChatGPT currently holds 81% of the global AI chatbot market, with Google’s Gemini at 2.8% [9]. - Despite competitive risks, analysts believe that focusing on fundamentals and the upcoming rollout of Gemini 3 could positively influence investor sentiment towards Alphabet [14]. Regulatory Environment - The judge's ruling on the antitrust case requires Google to share certain search and user data with qualified competitors, which may benefit services like DuckDuckGo and Microsoft Bing [15][16]. - Analysts expect a modest impact on Google from these data-sharing requirements, as it does not have to share data with generative AI competitors like OpenAI [17].

Market Overview - Global shares are mostly lower as investors await the outcome of a planned meeting between President Trump and China's top leader [1] - In Europe, the CAC 40 slipped 0.1% to 8,228.81, Germany's DAX fell 0.2% to 24,270.20, and Britain's FTSE 100 was nearly unchanged at 9,656.76 [2] - In Asia, Hong Kong's Hang Seng dropped 0.3% to 26,346.14, and the Shanghai Composite index lost 0.2% to 3,988.22 after briefly surpassing 4,000 [2] Trade Relations - Trump anticipates forging another trade agreement with Chinese President Xi Jinping during their meeting at a Pacific Rim summit in South Korea, which could alleviate trade tensions affecting global markets [3] - Japan's Prime Minister Takaichi is reaffirming the security alliance with the U.S. and committing to increased investments and imports from the U.S. [5] Economic Indicators - South Korea's Kospi shed 0.8% to 4,010.41 despite strong quarterly economic growth driven by consumption, investments, and exports [6] - The Federal Reserve is expected to continue cutting interest rates to support the slowing job market, with a likely quarter-point cut anticipated in the upcoming announcement [7] Corporate Earnings Expectations - There is optimism that U.S. companies will report solid profit growth, with major firms like Alphabet, Meta Platforms, Microsoft, Amazon, and Apple set to announce their results this week [9] Currency Movements - The U.S. dollar decreased to 151.78 Japanese yen from 152.88 yen, while the euro rose to $1.1655 from $1.1645 [10]

Microsoft - Microsoft is expected to report revenue of $30.17 billion, with a growth rate of 36.68% compared to the previous year, which is slightly lower than the guidance of 37% from the last quarter, indicating a potential for a beat [1] - The adjusted diluted EPS for Microsoft is projected to be $2.99 for Q3 2023, with revenue estimates of $56.52 billion for the same period [1] - The commercial cloud revenue is anticipated to reach $31.90 billion, showing a year-over-year growth of 12% [1] Google - Alphabet Inc. is expected to report revenue of $14.7 billion for Google Cloud, up from $11.35 billion in the same quarter last year, indicating a growth rate of 29.5% [3] - The overall revenue for Alphabet is projected to be $76.69 billion for Q3 2023, with a diluted EPS of $1.55 [3] - Google Services revenue is expected to be $67.99 billion, with advertising revenue contributing significantly to this figure [3] Meta - Meta Platforms Inc. is projected to generate revenue of $33.94 billion in Q3 2023, with advertising revenue making up a substantial portion of this [5] - The operating income for Meta is expected to be $17.49 billion, reflecting a strong operating margin of 52% [5] - The Reality Labs segment is anticipated to report a revenue of $210 million, although it continues to operate at a loss [5] Amazon - Amazon is expected to report revenue of $220 billion for the fiscal year 2023, with significant contributions from its online stores and AWS [5] - The operating income for Amazon is projected to be $12.25 billion, with an operating margin of 6.41% [5] - The company is also expected to see growth in its international revenue segment, which is projected to reach $131.20 billion [5]

Group 1: Tech Sector Performance - The tech sector is performing well in 2023, with the Nasdaq-100 index up 21%, outperforming the S&P 500's 15% return [1] - The Nasdaq-100 is currently trading at 39 times earnings, indicating that tech stocks have become expensive [1] Group 2: Alphabet's Position in AI - Alphabet is successfully navigating the AI landscape, countering fears that AI chatbots would negatively impact its search business [3] - The company has established itself as a leader in major tech markets, including search (Google), browser (Chrome), and mobile operating system (Android) [3] Group 3: AI Product Success - Alphabet's AI Overviews feature has 2 billion monthly users, while the Google Gemini app has 450 million monthly active users [4] - A partnership with Anthropic allows access to up to 1 million of Google's custom-designed Tensor Processing Units (TPUs), potentially worth tens of billions of dollars [5] Group 4: Financial Outlook - Alphabet generated $73 billion in free cash flow last year, indicating strong financial health [5] - The AI market is projected to grow by 37% annually through 2031, positioning Alphabet to remain at the forefront of AI technology [6]

This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with: What we're watching What we're reading Economic data releases and earnings The top 10 stocks in the S&P 500, led by the AI giants, have surged back to dot-com era levels of dominance, according to new data from Lori Calvasina, head of US equity strategy research at RBC. Her chart shows the group’s equal-weighted performance versus the rest of the S&P is approaching the highs of th ...

Group 1 - The article provides a market analysis covering key financial instruments including Euro US Dollar, US Dollar Japanese Yen, Gold Spot US Dollar, and Microsoft Corporation [1] Group 2 - The analysis includes trends and movements in currency exchange rates and their implications for investors [1] - Insights into the performance of Microsoft Corporation are also highlighted, indicating its relevance in the current market landscape [1]