Summary
Dow Jones just hit an all-time high! Today’s market was volatile yet the S&P 500 was ended at the same price as yesterday’s close moving almost exactly 0.00%! Now we saw massive news like positive third quarter earnings reports from Coca-Cola, 3M and General Motors. On the other hand, Netflix had rather disappointing results due to a tax settlement with Brazil which caused its stock to decline.
Market & Index Overview
S&P 500: -0.00%
Nasdaq: -0.23%
Dow Jones: +0.47%
Russell 2000: -0.20%
Sector highlights:
Tech: -0.10%
Financials: -0.01%
Energy: -0.32%
Top Gainers & Losers
BYND - $3.62: +146.26%
Expanded distribution at Walmart stores + meme-stock short squeeze on social media.
NERV - $6.41: +140.98%
Private financing deal of up to $200 million.
RYOJ - $9.12: +140.00%
Bullish analyst ratings + high trading volumes.
NKLR - $8.85: -31.18%
Weak fundamentals + skepticism regarding high valuation concerns.
OWLS - $19.50: -32.29%
Underperformance in sector mixed with general weakness in private credit sector.
NEUP - $4.85: -68.51%
Announced it was ending its social anxiety program because of failure in phase 3 trials.
The Magnificent Seven(a.k.a. Big Tech)
Apple Inc.(AAPL) - $262.77: +0.20%
Hit an all-time high at a market cap of almost $4 trillion + bullish analyst ratings.
Microsoft Corp.(MSFT) - $517.66: +0.17%
CEO was revealed to have $96.5 million pay.
Alphabet Inc.(GOOGL) - $250.46: -2.37%
Reported to be in talks with AI startup Anthropic for new AI investments + OpenAI launching a new browser.
Amazon.com Inc.(AMZN) - $222.03: +2.56%
Analyst price targets increase.
NVIDIA Corp.(NVDA) - $181.16: -0.81%
Potential strengthened partnership with OpenAI.
Tesla Inc.(TSLA) - $442.60: -1.08%
Anticipation for earning’s report tomorrow.
Meta Platforms(META) - $733.27: +0.15%
Entered a $27 billion joint venture with Blue Owl Capital to finance its Hyperion AI data center in Louisiana.
Upcoming News
Key earnings reports for companies like TSLA, tomorrow after market close, and META next week.
Federal Reserve Meeting on October 28-29.
Geopolitical risks: U.S.-China trade relations, instability in the Middle East etc…
Final Note
The market ended without major price changes despite market volatility as a result of many major earnings reports. The tech, financial and energy sectors all ended up down in the day. Small cap stocks also underperformed.
Hey, great read as always. It's fascinating how the S&P stayed flat despite all the ups and downs. My eye always goes to the AI news; Alphabet and Anthropic really grabed me. As an AI enthusiast, it’s exciting, but I do wonder if all this progress truly benefits everyone equaley.