Market Overview - Major indices declined, with the Dow Jones down 109.88 points (0.23%) to 47,522.12, the Nasdaq down 377.33 points (1.57%) to 23,581.14, and the S&P 500 down 68.24 points (0.99%) to 6,822.35 [1] - Technology stocks and Bitcoin fell, while gold rose above $4,000 [1] Commodity Prices - Light crude oil futures for December rose by $0.09 to $60.57 per barrel (0.15% increase), while Brent crude oil futures increased by $0.08 to $65.00 per barrel (0.12% increase) [2] - Gold surged by 2.44% to $4,024.76, with Wells Fargo raising its 2026 gold price target from $3,900-$4,100 to $4,500-$4,700 per ounce [3] Economic Policy - The U.S. Senate voted 51-47 to terminate Trump's national emergency for global tariffs, with four Republican senators breaking ranks [4] - The Federal Reserve's Vice Chair for Supervision, Bowman, plans to reduce the bank regulatory department's staff by 30% by 2026, aligning with broader regulatory rollbacks [5] Corporate News - Amazon's Q3 earnings exceeded expectations, with EPS at $1.95 (above the $1.57 forecast) and revenue at $180.2 billion (surpassing the $177.9 billion estimate), leading to an 11% after-hours stock increase [8] - Apple's Q4 revenue reached $102.47 billion, exceeding expectations, with strong demand for the iPhone 17 series, despite initial supply constraints [8] - Nvidia plans to invest up to $1 billion in AI startup Poolside, potentially quadrupling its valuation [9] - Meta's bond issuance received a record $125 billion in subscriptions, reflecting strong market demand for corporate bonds in the AI sector [10] - Tesla's Cybertruck has faced its tenth recall, involving 6,197 vehicles due to potential installation issues with off-road light bars [11]

Group 1: Economic Indicators - China's official composite PMI data for October is set to be released [3] - Eurozone's core harmonized CPI for October is also scheduled for publication [3] - The US core PCE price index for September will be announced [3] Group 2: Market Performance - US stock indices closed lower, with the Nasdaq down 1.57%, S&P 500 down 0.99%, and Dow Jones down 0.23% [4] - Meta Platforms saw a significant drop of over 11%, marking its largest single-day decline in three years, resulting in a market cap loss of approximately $214 billion [4] - International oil prices experienced slight declines, with WTI crude oil down 0.31% to $60.29 per barrel and Brent crude down 0.42% to $64.05 per barrel [6] Group 3: Corporate Developments - Agricultural Bank of China reported a net profit of 222.3 billion yuan for the first three quarters of the year, a year-on-year increase of 3.28% [23] - Apple Inc. reported Q4 revenue of $102.47 billion, a year-on-year increase of 7.9%, with net profit reaching $27.47 billion [24] - Amazon's Q3 net sales were $180.17 billion, exceeding expectations, with a net profit of $21.19 billion [25] Group 4: Regulatory and Policy Updates - China's Ministry of Commerce announced plans to accelerate the development of green and low-carbon logistics [9] - The Chinese government will implement a new policy for duty-free shops starting November 1, 2025, aimed at boosting consumption [10] - The Financial Regulatory Bureau has expanded the pilot areas for pension financial products to nationwide, with a trial period extended to three years [12] Group 5: Industry Trends - OpenAI announced plans for the "Stargate" data center project in Michigan, with a planned capacity exceeding 8 GW and an investment of over $450 billion in the next three years [31] - YouTube is undergoing a restructuring focused on artificial intelligence applications, indicating a shift towards AI-driven products [26] - WeChat has launched three new features aimed at enhancing user experience, including bulk message recall and selective notification settings [28]

OpenAI is preparing to file for an initial public offering as soon as next year that could give it a market cap of $1 trillion. That's according to Reuters. An OpenAI spokesperson didn't return my request for comment on this one.I want to put some context on this though. Uh Open Eye is the world's most valuable private company. As you can see, courtesy of Yahoo Finance's private markets data.While $1 trillion would be a huge valuation, keep in mind video on Wednesday eclipsed a $5 trillion market cap for th ...

Core Insights - Microsoft CEO Satya Nadella emphasized the need for continuous innovation in production methods, product content, distribution, and economic models within the gaming industry [1][3] - Nadella highlighted that the competition in the gaming sector extends beyond other games to include short video content [3] - The company is pursuing a "multi-platform" strategy to expand its gaming reach, aiming for a presence similar to its Office business [5] Group 1 - Nadella mentioned the importance of maintaining good profit margins as a means to achieve innovation [1] - The interview focused heavily on AI topics, with Nadella repeatedly stating that Microsoft's Azure servers are highly profitable, despite a recent outage [3] - No specific ideas or examples were provided regarding innovation in gaming, although Nadella expressed confidence in the need for new business models [3] Group 2 - The relationship between PC and console gaming was discussed, with Nadella asserting that they should not be viewed as entirely separate product lines [5] - The next generation of Xbox and PC platforms is expected to see more innovation at the system level [5]

Demand isn’t speculative anymore; it’s contractual. Microsoft’s commercial remaining performance obligation reached $392 billion, up 51% from a year earlier. And that figure doesn’t include OpenAI’s $250 billion Azure commitment, a multiyear deal that functions like an energy forecast disguised as a tech partnership. Together they represent hundreds of billions in future workloads — booked, not built.The physics are inescapable. Each AI deployment now drags behind it a convoy of equipment, cooling, and grid ...

By Chuck Mikolajczak NEW YORK (Reuters) -Global shares dropped on Thursday and were set for their biggest daily decline in three weeks, weighed down by megacaps Microsoft and Meta, while the dollar rose against the yen on policy updates from the Federal Reserve and Bank of Japan. Markets were digesting comments from Fed Chair Jerome Powell, who dampened expectations that the U.S. central bank will cut interest rates at its December meeting after easing by 25 basis points on Wednesday. Market reaction wa ...

This is a heavy earnings week, with 173 of the S&P 500 companies reporting earnings. Apple and Amazon.com report after Thursday’s close. Q3 earnings have been running strong so far. According to Bloomberg Intelligence, 84% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from +6.4% in Q2.St ...

Meta and Microsoft shares slide after quarterly results. ...

Core Insights - The increasing popularity of exchange-traded funds (ETFs) is largely due to their ability to provide diversification, with many ETFs holding thousands of bonds or stocks, thus offering deep-bench portfolios [1] - However, diversification can be misleading, as capitalization-weighted index funds and ETFs may be heavily concentrated in a few stocks, particularly with the rise of the "Magnificent Seven" stocks, where just five stocks account for over 27% of S&P 500 ETFs [2] - This high level of concentration raises concerns among investors, yet the index's returns remain strong due to the prominence of a small number of stocks [3] ETF Analysis - The Vanguard Dividend Appreciation ETF, with $98 billion in assets under management, is a leading dividend ETF, but it is concentrated with just three stocks—Broadcom, Microsoft, and JPMorgan Chase—making up approximately 15% of its portfolio [5] - The ETF's benchmark, the S&P U.S. Dividend Growers Index, includes companies that have increased dividends for at least 10 consecutive years while excluding the top 25% with the highest yields, with components weighted by market capitalization [6] - Broadcom, Microsoft, and JPMorgan are reliable dividend growers, maintaining manageable payout ratios while allowing for long-term growth, which justifies their significant presence in the ETF [7]

Let's start with matter. That's kind of the equation, right. Okay.Capital expenditures will be higher next year than they were this year. Then what. Give us more. Give us some longer term outlook.That just wasn't a formal guidance. Is that what spooked the market. Yeah, Metta was just in a period of being really comfortable.Zach had had been very comfortable. The company had executed, they had invested and they were harvesting those investments and now they're going back into investment. So I think at the b ...