Market Overview - The U.S. stock market opened lower with the Dow Jones down 0.2%, Nasdaq down 0.49%, and S&P 500 down 0.37% [1] Company Highlights - Google shares rose over 3% after Berkshire Hathaway, led by Warren Buffett, purchased 17.85 million shares of Alphabet, making it the 10th largest holding in their portfolio [1] - Alibaba's stock increased nearly 2.5% following the public beta launch of its Qwen-based app, which aims to cover various life scenarios including office work, maps, health, and shopping [1] - Zymeworks saw a significant increase of 32.4% after announcing positive trial results for its cancer drug Ziihera [1] - XPeng Motors' shares fell 3.7% as its Q3 revenue slightly missed expectations [1] - WeRide's stock rose 4.3% after receiving approval in Abu Dhabi to commence "true unmanned" commercial driving [1] Industry Developments - Novo Nordisk's stock declined by 0.7% and Eli Lilly's by 2.6% following a price reduction announcement for their weight loss drugs [1]

Market Overview - Global stock markets and bond yields remain strong, with the upcoming Nvidia earnings report expected to influence market direction [2][3] - US stock index futures show slight gains, with the Dow futures up 0.12%, S&P 500 futures up 0.33%, and Nasdaq futures up 0.58% [3] - European markets are cautiously rising after a volatile week, with the STOXX 600 index up 0.1% [3] Nvidia's Earnings Report - Nvidia is viewed as a "litmus test" for the tech sector, having seen its stock price surge approximately 1000% since the launch of ChatGPT in November 2022 [4] - The company became the first globally to surpass a market capitalization of $5 trillion last month, with a year-to-date increase of over 40% [4] Economic Data and Federal Reserve Outlook - The delayed US economic data, including the September non-farm payroll report, is expected to confirm a slowdown in the labor market [6] - The Federal Reserve's decision-making may be complicated by the data delays, with some officials expressing skepticism about further rate cuts [6] - Market expectations for a December rate cut have dropped below 50%, impacting high-valuation tech stocks [3][6] Long-term Investment Sentiment - Wall Street strategists maintain a positive long-term outlook for AI investments, viewing recent volatility as profit-taking rather than a fundamental shift [7] - Morgan Stanley's chief US equity strategist predicts a 16% increase in the S&P 500 over the next year, supported by strong corporate earnings [9][11]