Benzinga·2025-11-01 12:04Core Insights - Wall Street experienced a record-setting rally, with Nvidia Corp. achieving a market cap of $5 trillion, marking a historic milestone [2] - The "Magnificent Seven" tech giants, including Apple, Amazon, Alphabet, Microsoft, Meta, and Tesla, contributed to significant market gains [2] - Federal Reserve Chair Jerome Powell expressed caution regarding future rate cuts, impacting market sentiment [3] Company Highlights - MercadoLibre Inc. reported Q3 revenue of $7.41 billion, a 39% year-over-year increase, marking its 27th consecutive quarter of over 30% revenue growth, driven by strong performance in Brazil, Mexico, and Argentina [5] - Microsoft Corp. shares rose following a new agreement with OpenAI, making Microsoft a 27% stakeholder in OpenAI's public-benefit corporation, valued at approximately $135 billion, and securing a commitment for $250 billion in Azure cloud services [6] - Joby Aviation Inc. saw its stock surge after being named the exclusive aviation launch partner for Nvidia's IGX Thor AI platform, which is expected to enhance Joby's autonomous flight technology [7] Bearish Developments - Meta Platforms Inc. reported Q3 revenue of $51.24 billion, up 26% year-over-year, but missed EPS expectations due to a significant tax charge, leading to a stock sell-off [8] - Chipotle Mexican Grill Inc. experienced a decline in stock price after Q3 revenue fell short of estimates at approximately $3.00 billion, with only a 0.3% increase in comparable restaurant sales [9] - Carvana Co. posted Q3 revenue of $5.65 billion, a 55% year-over-year increase, but missed EPS expectations, causing concerns over margin pressure and stock decline [10]