Zheng Quan Shi Bao·2025-10-30 22:54Group 1: Market Overview - Major US stock indices opened lower on October 30, with the Dow Jones rising by 0.44%, while the S&P 500 and Nasdaq fell by 0.44% and 0.91% respectively [1] - Concerns about potential AI investment bubbles have resurfaced as significant capital expenditures by tech giants raise investor apprehensions [1] Group 2: Federal Reserve Insights - Federal Reserve Chair Jerome Powell indicated uncertainty regarding a potential rate cut in December, highlighting strong disagreements among committee members [3][4] - The likelihood of a December rate cut dropped from 90% to 67% according to CME FedWatch data [5] Group 3: Earnings Reports from Tech Giants - Alphabet, Meta, and Microsoft reported a combined capital expenditure of approximately $78 billion in Q3, an increase of 89% year-over-year, primarily for data center development [7] - Meta's stock plummeted nearly 12% following its earnings report, attributed to unexpected high capital expenditures and warnings of significantly higher spending in 2026 compared to 2025 [7][10] - Microsoft also faced investor skepticism regarding its substantial AI investments, with Q3 capital expenditures reaching a record $34.9 billion [11] Group 4: Company-Specific Developments - Meta's Reality Labs division reported a loss of $4.4 billion in Q3, with revenues of only $470 million, raising concerns about its AI-related investments [10] - Despite the losses, Meta's CEO Mark Zuckerberg emphasized the potential of smart glasses and the importance of adequate investment in AI [10] - Microsoft CFO Amy Hood acknowledged the ongoing high demand for AI services, despite the company's significant investments [11]