U.S. Federal Reserve Chairman Jerome Powell bifurcated the stock market yesterday when he delivered a 0.25% rate cut that the market was expecting and then, unexpectedly, said he did not believe that the AI sector was in a bubble akin to the dotcom boom of 2000.The broad index of large-cap companies in the S&P 500 closed flat, but the tech-heavy Nasdaq 100 rose 0.55%. Tech stocks were led by Nvidia, which was up 3%, and now has a market cap of more than $5 trillion. (Its stock is down 0.7% premarket this mo ...

（央视财经《天下财经》）据美联社报道，当地时间29日，美国微软公司旗下云计算服务平台发生大规 模宕机，航空、零售以及银行等全球多个行业的服务受到影响。微软公司称，目前系统正在逐步恢复 中，部分宕机的网站已恢复访问。 转载请注明央视财经 编辑：王昕宇 微软公司表示，由于无意中更改了相关配置，旗下云计算服务平台——Azure发生大规模宕机。报道 称，多个微软旗下服务暂时无法正常运行，包括云端订阅服务、微软365应用，以及家用游戏机品牌 Xbox等。 部分依赖于该云计算服务平台的第三方企业网站也受到影响，例如星巴克和连锁超市开市客的网站一度 无法访问，阿拉斯加航空等多家航司出现无法正常值机的情况，英国国民西敏寺银行也报告其网站发生 故障。微软公司表示，目前系统正在逐步恢复中，后续还可能会有一些用户遭遇间歇性宕机。截至发 稿，尚不清楚共有多少用户遭到此轮宕机事故的波及。 另据CNBC报道，在发生宕机事故后，微软公司公布了最新财报。财报显示，截至9月30日的2026财年 第一季度，公司营业收入达到776.7亿美元（约合人民币5512亿元），同比增长18%。其中，此次发生 宕机事故的云计算服务平台——Azure和其他云服 ...

Trade Relations - The Trump administration has announced a one-year agreement with China regarding rare earths and critical minerals, alongside a reduction in fentanyl-related tariffs from 20% to 10% effective immediately [4] - Overall tariffs on Chinese exports will decrease from 57% to 47% [4] - In exchange, China will work to halt fentanyl production and resume purchases of American agricultural products, including soybeans [5] Technology Sector - Discussions included the sales of Nvidia chips to China, with Nvidia being a significant player in the semiconductor market valued at $5 trillion [5] - The meeting did not cover sales of Nvidia's latest Blackwell accelerators to China [5] IPO Developments - OpenAI is reportedly preparing for an initial public offering that could value the company at up to $1 trillion, with plans to file with regulators as early as the second half of 2026 [7] - The company aims to raise $60 billion at the lower end, with a potential earlier listing in late 2026 [7][8] Microsoft Azure Outage - Microsoft has resolved an Azure cloud platform outage that lasted over 8 hours, affecting various global businesses and services [8] - Companies like Alaska Airlines and Heathrow Airport experienced disruptions due to the outage [9]

Core Insights - Schneider Electric's organic revenue growth exceeded quarterly estimates, driven by increased demand for data centers that support artificial intelligence [1] Company Performance - The French industrial group reported strong performance in its latest quarter, indicating robust market conditions and effective business strategies [1] Industry Trends - The surge in demand for data centers is a significant trend, reflecting the growing importance of artificial intelligence in various sectors [1]

British retailer Marks & Spencer on Thursday named Roger Burnley, the former boss of supermarket Asda, as a non-executive director, beefing-up the board's food expertise after Justin King, the former ... ...

资本支出飙升成为贯穿所有财报的共同主线。谷歌和Meta双双上调了2025年资本支出指引，并预告2026年投入将进一步"显著"增 加。谷歌将2025年资本支出指引提高至910亿—930亿美元，Meta上调至700亿—720亿美元，微软刚刚结束的财季资本支出已达创 纪录的349亿美元，远超市场预期的300亿美元。 尽管最新财报季给大型科技公司的股价带来了不同的命运，但一个明确无误的信号已经发出：在人工智能（AI）的赛道上，所有巨 头都在以前所未有的规模加大投入。无论是微软、谷歌还是Meta，它们都在计划或已经实施创纪录的资本支出。 周三盘后，市场对科技巨头们的业绩反应不一。谷歌母公司Alphabet因各业务线收入加速增长，股价上涨5%；而Meta虽然营收表 现优于预期，但因支出大幅增加，股价重挫8%；微软在业绩基本符合预期后，股价也下跌超过2%。 在股价涨跌背后，资本支出飙升成为贯穿所有财报的共同主线。谷歌和Meta双双上调了2025年资本支出指引，并预告2026年投入 将进一步"显著"增加。谷歌将2025年资本支出指引提高至910亿—930亿美元，Meta上调至700亿—720亿美元，微软刚刚结束的财 季资本支 ...

OpenAI is now the world’s most valuable private company, but when Microsoft originally invested $1 billion in the startup in 2019, it was less than a sure bet. Microsoft CEO Satya Nadella faced pushback even from the company’s cofounder and original CEO, Bill Gates, he recalled during an interview on tech-focused YouTube channel TBPN. “Remember this was a nonprofit, and I think Bill [Gates] even said, ‘Yeah, you’re going to burn this billion dollars,’” Nadella said. Yet Nadella and the Microsoft team we ...

U.S. stock futures swung between gains and losses on Thursday following Wednesday’s mixed moves. Futures of major benchmark indices were mixed.The meeting between President Donald Trump and President Xi Jinping yielded significant agreements, including reduced U.S. fentanyl tariffs in exchange for China restarting “tremendous amounts” of U.S. soybean imports, a settled deal on rare earths, and strong indications that a broader trade deal is “pretty soon.” Despite the positive meeting, Fed Chair Jerome Powel ...

Core Insights - U.S. stock futures showed mixed performance following a meeting between Presidents Trump and Xi, which resulted in significant trade agreements, including reduced tariffs on U.S. fentanyl and increased soybean imports from China [1][2] - Fed Chair Jerome Powell's comments on interest rates created downward pressure on stocks, indicating that further cuts are not guaranteed [1][2] Market Performance - The 10-year Treasury bond yielded 4.07%, while the two-year bond was at 3.59% [2] - Market expectations for a Federal Reserve interest rate cut in December stand at 70.4% [2] - Major indices showed varied performance: Dow Jones -0.19%, S&P 500 +0.03%, Nasdaq 100 +0.06%, Russell 2000 +0.36% [2] Company Focus - Alphabet Inc. reported a revenue of $102.35 billion and earnings of $2.87 per share, leading to a premarket surge of 7.57% [6] - Meta Platforms Inc. saw a decline of 7.39% despite reporting earnings of $1.05 per share, affected by a significant one-time tax charge [6] - Microsoft Corp. experienced a drop of 2.78% as it projected second-quarter sales between $79.50 billion and $80.60 billion, slightly below market estimates [6] - Amazon.com Inc. was down 0.50% ahead of its earnings report, with expectations of $1.57 per share on revenue of $177.74 billion [12] - Apple Inc. shares rose 0.72% as analysts anticipate earnings of $1.77 per share on revenue of $102.17 billion [12] Analyst Insights - Market strategist Ed Yardeni expressed caution regarding the economy and stock market, warning against fueling speculation through easier monetary policy [9] - LPL's Chief Equity Strategist Jeff Buchbinder noted that the S&P 500 is defying historical trends associated with October, maintaining a neutral stance on equities while favoring large-cap growth [10]

Core Viewpoint - The latest earnings season has shown that major tech companies are significantly increasing their capital expenditures in the AI sector, reflecting a fierce competition to meet the explosive demand for AI and cloud computing [2][4]. Group 1: Company Performance - Alphabet (Google) reported a 5% increase in stock price due to accelerated revenue growth across its business lines [2]. - Meta's stock fell 8% despite better-than-expected revenue, primarily due to a substantial increase in expenditures [2]. - Microsoft's stock dropped over 2% after its earnings met expectations, indicating market concerns about its spending [2]. Group 2: Capital Expenditure Increases - Google raised its 2025 capital expenditure guidance to $91-93 billion, up from a previous estimate of $85 billion, and anticipates a "significant" increase in 2026 spending [7]. - Meta adjusted its 2025 capital expenditure guidance from $66-72 billion to $70-72 billion, with a warning that 2026 spending growth will be "significantly greater" than in 2025 [7]. - Microsoft reported a record capital expenditure of $34.9 billion for the recently ended fiscal quarter, exceeding market expectations of $30 billion [9]. Group 3: Market Implications - The substantial investments by tech giants signal confidence in AI's future but raise concerns about the return on investment due to high costs [4][10]. - Google's cloud business saw a 32% year-over-year revenue growth, indicating strong demand, while its backlog reached $155 billion, up 46% quarter-over-quarter [10]. - Investors are increasingly scrutinizing the timeline for these large-scale AI investments to translate into profits, as evidenced by the stock reactions of Meta and Microsoft [10].