Magnificent 7 Vs. Jay Powell's Posse (undefined:GOOG)

Earnings Reports - Five of the Magnificent 7 stocks, including Apple, Amazon, Alphabet, Meta, and Microsoft, are set to report earnings, which is expected to draw more investor attention than the Federal Reserve's anticipated rate cut [3][4] - So far, 29% of the S&P 500 has reported Q3 results, with 87% exceeding profit expectations, indicating strong performance in the market [5] Federal Reserve Actions - The Federal Open Market Committee (FOMC) is widely expected to cut rates by 25 basis points to a range of 3.75-4% due to softer-than-expected core inflation data [6][7] - Future guidance on rate moves may be challenging without labor market data, which is currently unavailable due to the government shutdown [7] Trade Relations - Recent trade talks between U.S. and Chinese officials have shown "constructive" progress, with a preliminary consensus on key disputes and China planning substantial purchases of U.S. soybeans [9] - In contrast, trade relations with Canada have soured, with President Trump announcing a potential 10% increase in tariffs on Canadian goods due to a controversial advertisement [10] Corporate Developments - Novartis is reportedly in advanced discussions to acquire Avidity Biosciences, with an offer expected to exceed $70 per share, valuing Avidity at approximately $6.8 billion [10] - Income investors should note that Citizens Financial and Cal-Maine will go ex-dividend this week, with payouts scheduled for November [11]