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Monster earnings
Stocks bracing for a monster week, Nvidia overtakes Apple as world's most valuable company, Delta sues CrowdStrike, VC megadeals are booming, and Trump doubles down on replacing income taxes with tariffs...
Market Briefing
October 28, 2024
Good morning.
The Fast Five → Stocks bracing for a monster earnings week, Nvidia overtakes Apple as world's most valuable company, Delta sues CrowdStrike, VC megadeals are booming, and Trump doubles down on replacing income taxes with tariffs…
📈 Nvidia is Pivoting to Solve Big Tech’s $1 Trillion Problem
A message from Weiss Research
Calendar: (all times ET) - Full calendar here
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Your 5-minute briefing for Monday, October 28:
BEFORE THE OPEN
As of market close 10/25/2024. Bitcoin as of 10/27/2024.
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 rise as megacap tech earnings drive Nasdaq gains.
Middle East tensions ease; oil futures dip.
Nasdaq hit a new high Friday; Dow, S&P snapped win streaks.
Big earnings week: Alphabet, Microsoft, Meta, Amazon, Apple.
AI spending likely to remain strong, per BMO’s Yung-Yu Ma.
EARNINGS
Here’s what we’re watching this week.
Today: Ford (F)
Tuesday: Comcast (CMCSA), JetBlue (JBLU), McDonald's (MCD), PayPal (PYPL), Pfizer (PFE), SoFi (SOFI), Alphabet (GOOGL), Chipotle (CMG), Reddit (RDDT)
Wednesday: AbbVie (ABBV), Coinbase (COIN), DoorDash (DASH), eBay (EBAY), Eli Lilly (LLY), Microsoft (MSFT), Roku (ROKU), Starbucks (SBUX)
Meta (META) - earnings of $5.24 per share (+19.4% YoY), on $40.3B revenue (+18% YoY)
Thursday: 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
Five Mag 7 giants report earnings this Halloween week. And the big jobs report hits on Friday.
Nvidia dethroned Apple as the world's most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized AI chips.
Wall Street bulls end week unrattled after fast run-up in yields (more)
Nasdaq hits high even as poor earnings growth disappoints investors (more)
A 10-day test is coming for bond market battered by selloff (more)
Oil prices likely to fall after Israel shows restraint in strikes on Iran (more)
Stimulus matters more than US election for Chinese stocks (more)
Trump doubles down on replacing income taxes with tariffs (more)
Musk says he can cut $2 trillion from budget at Trump rally (more)
Blackstone in talks to buy US pipeline stakes from EQT for $3.5 bln (more)
Delta sues CrowdStrike over ‘catastrophic’ software glitch (more)
TSMC halts shipments to China firm after chip found on Huawei processor (more)
VC megadeals are booming — and AI is surprisingly not the top category (more)
A MESSAGE FROM WEISS RESEARCH
Nvidia’s Quiet $1 Trillion Pivot
Nvidia and its powerful chips are the face of artificial intelligence.
But while everyone’s patting Nvidia on the back for record earnings…
It’s quietly moved on to the next phase of AI it plans to conquer…
Nvidia recently unveiled essential blueprints for this crucial $1 trillion pivot.
Click here now and find out about the three companies Nvidia absolutely needs to succeed in this vital new AI frontier.
DEALFLOW
M+A | Investments
VC
DailyPay, a provider of earned wage access solutions, received additional $100M in Credit Commitment from Citi (more)
PeopleOne Health, a company specializing in value-based primary care, raised up to $32.3M in Series B funding (more)
Osigu, an AI-powered healthcare revenue cycle and claims management platform, raised $25M in Series B funding (more)
Yoga Joint, a FL-based chain of hot yoga and fitness studios, raised $12M in funding for its Joint Venture program (more)
Pharos, a hospital quality reporting platform, closed a $5M seed funding round (more)
CRYPTO
BULLISH BITES
🎁 For MB Readers: Get this complimentary 2024 Wealth Protection Guide from American Alternative Assets - send my guide » *
🍎 Inside Look: What to expect from Apple’s ‘week’ of Mac announcements.
📰. Detour: Jeff Bezos reportedly killed the Washington Post’s Kamala Harris endorsement.
⚾️ Pursuits: Fed up with baseball ticket prices? Then you might want to jump on the latest real estate trend - buying a condo with a ballpark view.
🧳 Next Level: How I turned ChatGPT into my tour guide in Italy.
"give me a sign"
the sign:
— wallstreetbets (@wallstreetbets)
1:33 AM • Oct 28, 2024
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