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• The U.S. September JOLTS job vacancies fell significantly below expectations, hitting a three-year low, with an increase in layoffs.

The U.S. Bureau of Labor Statistics announced on Tuesday that the U.S. September JOLTS job vacancies fell significantly below expectations, hitting the lowest level since early 2021, with some increase in layoffs and a decrease in voluntary resignations, signaling a slowdown in the U.S. labor market. The rebound in job postings is a bright spot in this data. After the data was released, the U.S. two-year Treasury yield plummeted sharply.

• Morgan Stanley: U.S. stocks have not fully priced in a Trump reelection.

Morgan Stanley's Chief U.S. Equity Strategist Mike Wilson stated that although there are some signs indicating that market participants are pricing in a Trump reelection, such as the surge in Bitcoin prices, the sharp drop in the Mexican peso, and the rise in U.S. bond yields... this expectation has not been completely priced into U.S. stocks. In the U.S. stock market, aside from the financial, information technology, and industrial sectors, other sectors have not performed well this month. Among them, financial stocks have performed the best, benefiting not only from the expectation of Trump's reelection but also from a strong earnings season.

• The 'fear index' VIX made its first net long turn since 2018.

As the US stock market approaches historic highs, VIX positions have turned to net long positions for the first time since 2018, and currently market long positions are still increasing. Strategists believe this phenomenon is very rare, as when VIX positions are net long, the stock market is often in a downward or adjustment phase. This may mean that the current market is seeing high volatility as a characteristic of a bull market rather than a flaw.

• Goldman Sachs CEO: The U.S. economy will achieve a soft landing, and the trading environment is improving.

Goldman Sachs CEO David Solomon stated that the US economy is performing well, demonstrating great resilience, and the fundamental situation in the US is a soft landing. Solomon also expressed his concerns about other regions in the world, especially the Middle East, however, this war has not yet had a significant impact on activities in that region.

• Bitcoin futures briefly surpassed 74,000 USD, with the spot price approaching historical highs.

In the New York session on Tuesday (October 29), the CME Bitcoin futures BTC front month contract was reported at 73,100.00 USD, up 3.98% from the Monday session close in New York, rising to 74,485.00 USD intraday. The spot price of Bitcoin once rose to 73,600 USD and is currently at 72,718 USD. The CME Ethereum futures DCR front month contract was reported at 2,645.50 USD, up 4.79% from Monday, rising to 2,713 USD intraday.

• Gold price continues to break historical records! Employment data ignites enthusiasm, adding another fire to the Trump trade.

In the early trading session on Tuesday in New York, the price of spot gold significantly rose, briefly breaking the $2,770 level, reaching a peak of $2,771.81 per ounce, setting a new record high. Analysts believe that investors are turning their attention to US macroeconomic data to find clues related to the Federal Reserve's interest rate trajectory. The latest data on job vacancies has dropped to the lowest level in over three and a half years, prompting traders to increase bets on rate cuts. In addition, analysts think Trump's inauguration may support gold, as he could escalate trade tensions and widen the budget deficit.

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• The three major US stock indices showed mixed movements, with the Nasdaq hitting a historical high.

US stock market closed with mixed results, the Dow fell by 0.36%, the S&P 500 index rose by 0.16%, and the Nasdaq rose by 0.78% setting a new historical high.

Meta Platforms rose nearly 3%, Google rose nearly 2%, Amazon and Microsoft rose over 1%, Nvidia and Apple edged up slightly, while Tesla fell over 1%.

Chip stocks rose across the board, with Arm Holdings and Broadcom up over 4%, AMD up nearly 4%, Qualcomm up over 2%, and Micron Technology up nearly 2%.

China concept stocks saw a general decline, with the Nasdaq Golden Dragon Index falling by 1.44%. Xpeng Auto fell over 4%, Nio and Weibo fell over 3%, while iQiyi, Li Auto, Tencent Music fell over 2%, and Bilibili, JD.com fell over 1%.

• Google rose nearly 6% after hours, cloud revenue in the third quarter exceeded expectations.

$Alphabet-A (GOOGL.US)$ Rising nearly 6% post-market. Alphabet, Google's parent company, reported an EPS of $2.12 in the third quarter, above analysts' expectations of $1.84. Third-quarter revenue for Alphabet was $88.27 billion, higher than the expected $86.45 billion. Post-tax revenue for the third quarter was $74.55 billion, exceeding analysts' expectations of $72.88 billion. Google Cloud revenue in the third quarter was $11.35 billion, higher than the expected $10.79 billion. YouTube advertising revenue in the third quarter was $8.92 billion, slightly exceeding analysts' expectations of $8.89 billion. Google's advertising revenue in the third quarter was $65.85 billion, beating analysts' expectations of $65.5 billion.

• AMD plummeted over 7% after hours, with the fourth-quarter revenue outlook falling short of analysts' expectations.

$Advanced Micro Devices (AMD.US)$ Sharp post-market drop of over 7%. AMD's third quarter revenue was $6.8 billion, with analysts expecting $6.71 billion; Adjusted EPS for the third quarter was $0.92, in line with the analysts' expectation of $0.92; Adjusted operating income for the third quarter was $1.72 billion, compared to analysts' estimate of $1.71 billion; Adjusted operating margin for the third quarter was 25%, while analysts expected 25.4%; Research and development expenses for the third quarter stood at $1.64 billion, versus analysts' expectation of $1.61 billion; Fourth quarter revenue is projected to be between $7.2 billion and $7.8 billion, analysts expecting $7.55 billion.

• OpenAI reportedly plans to collaborate with Broadcom and Taiwan Semiconductor to jointly develop its own chips.

According to sources, OpenAI is working with $Broadcom (AVGO.US)$ and $Taiwan Semiconductor (TSM.US)$ to create its first in-house chip to support its artificial intelligence systems. The report mentioned that OpenAI had explored a range of options to diversify chip supply and reduce costs. Sources indicated that the company also plans to use AMD chips alongside Nvidia chips to meet its surging computing power needs. Previously, OpenAI even considered building a chip contract factory. However, based on cost and time considerations, OpenAI has abandoned the contract manufacturing plan. Instead, the company plans to focus on in-house chip design work.

• Trump Media & Technology Group surged nearly 9% again, rebounding more than threefold from its September low.

$Trump Media & Technology (DJT.US)$Rising by 8.76%, trading volume reached 8.593 billion US dollars. The stock was volatile on Tuesday, with multiple trading halts. Thanks to the recent rise in Trump Media Technology Group's stock price, the value of Trump's social media platform Truth Social now exceeds that of Musk's X. Since late September, the stock price of Trump Media Technology Group has more than tripled, with a market cap of over 10 billion US dollars.

• ASML Holding's third-quarter orders exceeded expectations, driven by the artificial intelligence boom.

Dutch semiconductor equipment manufacturer $ASML Holding (ASML.US)$ In the third quarter, orders exceeded expectations, driven by the artificial intelligence boom, leading to increased demand for this Dutch chip equipment manufacturer. ASM International's third-quarter revenue was 0.7786 billion euros, analyst expectations were 0.7641 billion euros; third-quarter orders were 0.8153 billion euros, analyst expectations were 0.7682 billion euros; third-quarter operating profit margin was 27.6%, analyst expectations were 25.7%; third-quarter gross profit margin was 49.4%, analyst expectations were 48.5%; forecasted fourth-quarter revenue of 0.77 billion-0.81 billion euros, analyst expectations are 0.7898 billion euros.

• Reddit surged over 24% in post-market trading, with fourth-quarter revenue and EBITDA guidance exceeding expectations.

$Reddit (RDDT.US)$ Post-market trading in the US stock market rose by over 24%. Reddit's third-quarter revenue was $0.3484 billion, higher than analysts' expectation of $0.3128 billion. The net income for the third quarter was $0.0299 billion, while analysts expected a loss of $0.0138 billion. Adjusted EBITDA for the third quarter was $0.0941 billion, exceeding analysts' forecast of $0.0589 billion. The ARPU for the third quarter was $3.58, compared to analysts' expectation of $3.22. The daily active user count for the third quarter was 0.0972 billion, slightly higher than analysts' expectation of 0.09636 billion. In the US, daily active users were 0.0482 billion, while international daily active users were 0.049 billion. It is expected that the revenue for the fourth quarter will be between $0.385 billion and $-0.4 billion, higher than analysts' expectation of $0.3562 billion. The adjusted EBITDA for the fourth quarter is projected to be between $0.11 billion and $-0.125 billion, while analysts forecast $0.087 billion.

• Elon Musk's AI firm, xAI, is planning a new round of financing with a valuation of approximately $40 billion.

An informant mentioned that Elon Musk's AI startup company, xAI, is seeking a new round of financing at an estimated valuation of around $40 billion. Just a few months ago, another round of financing brought $6 billion in funds to this startup company. The financing negotiations are still in the early stages, and details may change, with the possibility of negotiations falling through. Including funds raised in the previous round in May, the company was valued at $24 billion, and the latest transaction will signify a significant increase in its valuation, placing it among the highest valued startups in the US.

BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.

• Beishui bought $1.769 billion Hong Kong dollars of Alibaba-W shares and sold $0.329 billion Hong Kong dollars of CNOOC shares.

On October 29 (Tuesday), southbound funds net bought $6.753 billion Hong Kong dollars of Hong Kong stocks today.

Alibaba-W, Hang Seng H-Share Index ETF, and Meituan-W received net purchases of $1.769 billion Hong Kong dollars, $0.919 billion Hong Kong dollars, and $0.887 billion Hong Kong dollars respectively. CNOOC, China Mobile, and Autostreets experienced net sales of $0.329 billion Hong Kong dollars, $0.314 billion Hong Kong dollars, and $4.55 million Hong Kong dollars.

• Xiaomi Conference: Xiaomi 15 starts at 4499 yuan, pre-sale price of SU7 Ultra is 0.8149 million yuan, with the smarter AI voice assistant Xiao Ai.

Last night, $XIAOMI-W (01810.HK)$ Held the Xiaomi 15 series and Xiaomi Surge OS 2 new product launch event. The starting price of Xiaomi 15 is 4499 yuan, no additional charge for the customized version and 40 customized versions available, the Bright Silver version starts at 4699 yuan, and the Diamond Limited Edition starts at 5999 yuan. The price of Xiaomi 15 Pro series phones has been announced, starting at 5299 yuan. The price of Xiaomi Pad 7 has been announced, starting at 1999 yuan. The pre-sale price of Xiaomi SU 7 Ultra is 0.8149 million yuan, officially launched in March 2025, with pre-orders opening at 10 minutes and the initial order quantity exceeding 3680 units.

• PetroChina's net income in the first three quarters was 132.522 billion yuan, a year-on-year increase of 0.7%.

$PETROCHINA (00857.HK)$: In the first three quarters, revenue was 2256.279 billion yuan, a decrease of 1.1% year-on-year, and net income was 132.522 billion yuan, an increase of 0.7% year-on-year. Among them, net income for the third quarter was 43.911 billion yuan, an increase of 2.3% on a quarterly basis, and a decrease of 5.3% year-on-year.

• The EU has decided to impose a final anti-subsidy tax on autos from China for a period of five years.

On October 29th local time, the European Commission announced the conclusion of an anti-subsidy investigation, deciding to impose a final anti-subsidy tax on electric vehicles (BEVs) imported from China for a period of five years. The relevant decision is expected to be officially announced in the EU Official Journal on October 30 local time, and the anti-subsidy tax will be formally implemented starting from October 31.

The sampled Chinese export producers will be subject to the following countervailing duties: $BYD COMPANY (01211.HK)$ ：17.0%； $GEELY AUTO (00175.HK)$ ：18.8%； $SAIC Motor Corporation (600104.SH)$ : 35.3%; other cooperating companies will be subject to a 20.7% tariff. After requesting individual reviews, Tesla will be subject to a 7.8% tariff. All other non-cooperating companies will be subject to a 35.3% tariff. Temporary tariffs on electric cars imported from China will not be imposed on July 4, 2024.

The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.

Keywords: USA October ADP Employment Numbers, Q3 Real GDP Annualized Rate Initial Value, September Existing Home Sales Index Monthly Rate

On Wednesday, in terms of economic data, the USA will release a series of data including October ADP Employment Numbers, Q3 Real GDP Annualized Rate Initial Value, and September Existing Home Sales Index Monthly Rate; the Eurozone will release Q3 GDP Annual Rate Initial Value, October Economic Sentiment Index, among other data.

In terms of performance, in the Hong Kong stock market$MIDEA GROUP (00300.HK)$Will release the latest performance in the US stock market.$Microsoft (MSFT.US)$,$Meta Platforms (META.US)$,$MicroStrategy (MSTR.US)$,$Coinbase (COIN.US)$The other company will also release its results.

Regarding new listings, Hong Kong's new stock $LOPAL TECH (02465.HK)$Listed in Hong Kong.

Futubull Morning News:

True investors welcome volatility. Wild market fluctuations mean irrational low prices will periodically attach to solid companies.

- Warren Buffett

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