Chips rally

Nvidia hits record high as chip stocks rally on TSMC outlook, Blackstone builds a ‘performing credit juggernaut’, Traders see 20% chance of .5% rate cut in December, Netflix beat Wall Street expectations, and Google replaces search and ads boss...

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Market Briefing
October 18, 2024

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Good morning.

The Fast Five → Nvidia hits record high as chip stocks rally on TSMC outlook, Blackstone builds a ‘performing credit juggernaut’, Traders see 20% chance of .5% rate cut in Dec., Netflix beat Wall Street expectations, and Google replaces search and ads boss…

⚠️ 25-Yr Wall St Legend: Move your money before Nov 6
A message from Stansberry Research

Calendar: (all times ET) - Full calendar here

  • Today: Housing starts, 8:30 am

  • Monday: US leading economic indicators, 10:00 am

Your 5-minute briefing for Friday, October 18:

BEFORE THE OPEN

As of market close 10/17/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 45.45% for Week of October 18 2024

Last week: 49.01%. Updates every Friday.

Market Wrap:

  • Stock futures flat, down 28 points after record close.

  • Netflix jumps 4% post-earnings, beats expectations, 35% ad-tier growth.

  • Dow +0.9%, S&P +0.5%, Nasdaq +0.2%, all tracking 6th straight winning week.

  • Friday focus: housing data, Fed comments.

EARNINGS

What we’re watching today:

  • Today: Procter & Gamble (PG)

See full earnings calendar here.

HEADLINES

In Q3, Blackstone’s credit business invested more than $18 billion, marking its second-highest deployment quarter on record, according to the firm’s earnings released on Thursday.

TSMC, the world's largest contract chipmaker, raised its expectation for annual revenue growth and said sales from AI chips would account for mid-teen percentage of its full-year revenue.

  • Retail sales rose 0.4% in September, better than expected (more)

  • Traders see 20% chance of half-point ECB rate cut in December (more)

  • Oil steadies, but on track for biggest weekly loss in over a month (more)

  • China's Q3 GDP hits weakest pace since early ‘23, calls for more stimulus (more)

  • TSMC profit surges past expectations, sending US-listed shares 11% higher (more)

  • Netflix added 5 million new subscribers and beat Wall St expectations (more)

  • AI honeymoon is over for chip equipment industry (more)

  • Google replaces search and ads boss (more)

  • Amazon makes first foray into live news with election night special (more)

  • Intel seeks billions for minority stake in Altera business (more)

  • Buffett’s Berkshire continues to reduce Bank of America stake (more)

  • Luxury giant LVMH experiences unprecedented drop in sales (more)

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