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Chipmaker stocks lose traction, Harris/Trump promises could feed market's Fed addiction, gold hits another at record, Ray Dalio worried about postelection, and Roaring Kitty sells stake in Chewy...
Market Briefing
October 31, 2024
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Good morning.
The Fast Five → Chipmaker stocks lose traction, Harris/Trump promises could feed market's Fed addiction, gold hits another at record, Ray Dalio worried about postelection, and Roaring Kitty sells stake in Chewy…
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From American Alternative Assets
Calendar: (all times ET) - Full calendar here
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Your 5-minute briefing for Thursday, October 31 🎃
BEFORE THE OPEN
As of market close 10/30/2024
Pre-Market:
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US Investor % Bullish Sentiment:
↓ 37.70% for Week of October 24 2024
Last week: 45.45%. Updates every Friday.
Market Wrap:
Futures dip: S&P 500 -0.3%, Nasdaq 100 -0.5%, Dow -27 points.
Meta -3% on user miss, cost warning; Microsoft -4% on weak outlook.
GDP growth at 2.8%, short of 3.1%.
Key Fed PCE inflation data, jobless claims out today.
Big earnings: Apple, Amazon;
EARNINGS
Here’s what we’re watching this week.
Today: Estee Lauder (EL), Intel (INTC), Peloton (PTON) Roblox (RBLX), Uber (UBER)
Amazon (AMZN) - earnings of $1.14 per share (+21.3% YoY) on $157.2B revenue (+9.9% YoY)
Apple (APPL) - earnings of $1.55 per share (+6.2% YoY) on $94.4B revenue (+5.5% YoY)
Friday: Wayfair (W)
See full calendar here.
HEADLINES
Semiconductor stocks fell on Tuesday as Super Micro Computer and AMD and Super Micro led a sell-off.
The Fed risks moving beyond its role as a lender of last resort to a prop markets need to function even in normal times, with pressures likely to increase as US presidential candidates look set to add trillions more to deficits.
Wall Street ends lower ahead of megacap earnings (more)
New economic data moves US closer to ‘soft landing’ (more)
Ray Dalio concerned about America postelection (more)
Gold at record high as political uncertainty boosts safe-haven demand (more)
US shippers avoid East Coast ports on risk of second strike (more)
Asian equities to fall as US bond rout extends (more)
Microsoft Cloud fuels stronger-than-expected revenue growth (more)
Meta warns of worsening AI losses after sales narrowly beat (more)
Reddit shares soar 40% on profitability, rosy guidance (more)
Trump Media plummets 22% after stocks worst-ever day (more)
Roaring Kitty sells stake in Chewy (more)
A MESSAGE FROM ESGOLD
Keep This Gold Stock on your Watchlist 🇨🇦 $ESAU 🇺🇸 $SEKZF
Gold prices hit an all-time high
ESGold stock is up over 50% this month
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BULLISH BITES
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🤖 Next Level: More than a quarter of new code at Google is generated by AI.
🇺🇸 Election Bets: Robinhood admits it’s just a gambling app.
👩👩👦👦 Complicated: Elon Musk buys a Texas compound for his 11 kids and their mothers.
👜 Impressive: How Prada Group is defying the luxury downturn.
Buy Waste Management first thing in the morning
— Not Jerome Powell (@alifarhat79)
11:53 PM • Oct 30, 2024
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