Going nuclear

FTC takes on subscription traps with new rule, Amazon doubles down on nuclear energy, Boeing hones $15 billion financing plan, Meta lays off employees, and Nvidia is set to dominate Big Tech earnings season again...

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Market Briefing
October 17, 2024

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Good morning.

The Fast Five → FTC takes on subscription traps with new rule, Amazon doubles down on nuclear energy, Boeing hones $15 billion financing plan, Meta lays off employees, and Nvidia is set to dominate Big Tech earnings season again…

Calendar: (all times ET) - Full calendar here

  • Today:
    Initial jobless claims, 8:30 am
    US retail sales, 8:30 am
    Business inventories, 10:00 am

  • Tomorrow:
    Housing starts, 8:30 am

Your 5-minute briefing for Thursday, October 17:

BEFORE THE OPEN

As of market close 10/16/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 49.01% for Week of October 10 2024

Last week: 45.45%. Updates every Friday.

Market Wrap:

  • Stock futures flat after Dow's second record this week.

  • Wednesday: Dow +0.79%, S&P 500 +0.47%, Nasdaq +0.28%.

  • Alcoa +6% on strong earnings; CSX -4% on weak results.

  • Financials gain, Morgan Stanley +6.5% on strong earnings.

  • Key data: jobless claims, retail sales, industrial/manufacturing due Thur

EARNINGS

What we’re watching this week:

  • Today: Blackstone (BX)

    • Netflix (NFLX) - earnings of $5.12 per share on $9.8 billion revenue (+14.4% YoY)

  • Friday: Procter & Gamble (PG)

See full earnings calendar here.

HEADLINES

Rule is part of Biden administration's bid to tackle 'junk fees'. FTC has received increasing complaints about subscriptions. Harris highlighted the rule in campaign platform.

Internet giant part of $500 million investment to help bring small, modular reactors on to grid.

  • Dow ends at another record high as Wall St buoyed by banks, small-caps (more)

  • Stock rotation lifts small caps to three-year high (more)

  • Oil advances as traders weigh Middle East risks (more)

  • US titans tighten supply chain grip (more)

  • Asian stocks rise, Chinese shares reverse gains (more)

  • China boosts support for unfinished properties to $562 billion (more)

  • Huawei suppliers face effort by US lawmakers to block chip gear (more)

  • Nvidia is set to dominate another Big Tech earnings season (more)

  • Morgan Stanley shares soar most in four years on trading (more)

  • TSMC set to report strong profit driven by AI boom (more)

  • Boeing hones $15 bln financing plan to weather crises (more)

  • Meta lays off employees across multiple teams (more)

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