Hot news
On Friday before the US stock market opened, the three major futures indices rose in the short term after the release of non-farm data.
明星科技股盘前普涨，英特尔涨8%，亚马逊涨7%，苹果跌近2%。
热门中概股盘前涨跌不一，阿里巴巴涨0.28%，拼多多跌0.62%。
苹果上季iPhone收入“翻身”，但在华销售逊色，盘前跌近2%
Third quarter $Apple (AAPL.US)$ 营收创同期新高，超预期加快增长6%，预计四季度增速“中低个位数”，而分析师预计增长7%；三季度EPS同比下降近34%，不计一次性补缴税10.2 billion美元的影响，EPS增长12%；iPhone收入在二季度同比下滑后转增5.5%、高于预期，服务收入低于预期、增长放缓至12%，iPad收入增近8%仍不及预期，可穿戴设备收入超预期下降3%；三季度大中华区销售同比降幅大幅放缓至0.3%，而分析师预期止降。截至发稿，苹果盘前跌近2%。
Amazon's pre-market trading of US stocks surged 7%, with third-quarter profits and revenue exceeding expectations, and impressive revenue growth.
$Amazon (AMZN.US)$ The total revenue in the third quarter exceeded expectations, with EPS soaring by 55%, although revenue guidance for the year-end holiday shopping season slightly fell short of expectations, the profit outlook is bullish. Both the cloud business profit margin and the company's overall operating margin reached new highs. The company forecasts a capital expenditure of $75 billion in 2024, an increase of about 55% from the $48.4 billion in 2023. Capital expenditure is being driven by the AWS cloud division, and capital spending in 2025 may be even higher. As of the time of writing, Amazon surged 7% in pre-market trading.
Intel's pre-market stock price surged 7%, with Q3 revenue and performance guidance exceeding expectations.
$Intel (INTC.US)$ In the third quarter, revenue was $13.3 billion, a 6% year-on-year decline but still above analysts' expectations of $13.02 billion. Revenue from data center and artificial intelligence business was $3.35 billion, better than analysts' expected $3.15 billion. Additionally, Intel released performance guidance better than market expectations, forecasting fourth-quarter revenue to be between $13.3 billion and $14.3 billion, while analysts expected $13.63 billion; adjusted earnings per share will reach $0.12, compared to analysts' expectation of $0.063. As of the time of writing, Intel surged 7% in pre-market trading.
STMicroelectronics fell 2% in pre-market trading, with net revenues in the third quarter down 26.6% year-on-year.
$STMicroelectronics (STM.US)$ The financial report for Q3 of 2024 is announced: the total net revenue is $3.25 billion, a 26.6% year-on-year decrease; the total gross profit is $1.23 billion, a 41.8% year-on-year decrease; operating profit is $0.381 billion, a 69.3% year-on-year decrease, with an operating margin of 11.7%, compared to 28.0% in the same period last year; net income is $0.351 billion, with diluted earnings per share of $0.37. As of the press release, STMicroelectronics is down 2% in pre-market trading.
Buffet continues to increase shareholding in sirius xm, raising his stake to 33%.
Berkshire Hathaway, owned by Buffett, continues to increase its stake in satellite broadcasting company Sirius XM. According to a regulatory filing, Berkshire increased its Sirius XM shares by $60.7 million over the three days ending on Thursday, currently holding 33.2% of the outstanding shares.
Exxon Mobil Corporation is up 2% in pre-market trading, with a third-quarter profit of $8.6 billion.
$Exxon Mobil (XOM.US)$ The oil company is up 2% in pre-market trading, with a third-quarter profit of $8.6 billion and earnings per share of $1.92; operating cash flow generated is $17.6 billion, with free cash flow of $11.3 billion. The company announced a quarterly dividend of $0.99 per share for Q4, a 4% increase, to be paid on December 10, 2024, to common shareholders registered as of the end of business on November 14, 2024.
Chevron is up nearly 2% in pre-market trading, expecting to repurchase stocks worth $4 billion to $4.75 billion in Q4.
$Chevron (CVX.US)$ Exxon Mobil's adjusted earnings per share in the third quarter were $2.51, higher than the market expectation of $2.40. Chevron expects share buybacks in the fourth quarter to be between $4 billion and $4.75 billion. As of the time of writing, Chevron's pre-market trading is up nearly 2%.
Global macro
The U.S. non-farm payroll employment saw a significant cooling.
In October, non-farm payrolls in the United States increased by 0.012 million, lower than the estimated increase of 0.113 million; the previous value was an increase of 0.254 million, revised down to 0.223 million. The total number of non-farm payrolls for August was revised down from an increase of 0.159 million to a decrease of 0.081 million, to 0.078 million. After these revisions, the combined employment numbers for August and September were 0.112 million fewer than previously reported. Interest rate futures indicate an increased likelihood of a 25 basis point rate cut by the Federal Reserve in November, December, and 2025.
Wall Street is unanimously expecting gold to potentially rise above $3000.
Bank of America believes that gold is the best hedging asset. Goldman Sachs points out that since the outbreak of the Russia-Ukraine conflict, global central banks' demand for gold has quadrupled. Morgan Stanley believes that the impact of gold ETFs, central banks, and individual investors' positions in the futures market on the price of gold continues to increase. Citigroup also points out that currently, the overall demand for gold investments, including public and private investments, remains at historically high levels, putting upward pressure on the price of gold.
japan slightly lowers economic growth forecast for fiscal year 2024
At the Economic and Fiscal Policy Council meeting held by the Japanese Cabinet Office on November 1, the real economic growth rate expectation for the current fiscal year (April 2024 to March 2025) was revised down to 0.7% after excluding price fluctuations, a decrease of 0.2 percentage points from the forecast released in July. One of the main reasons is the slow recovery in automobile exports due to data falsification issues by multiple Japanese car manufacturers.
IMF: In the current prevalence of trade protectionism, ASEAN will continue to be a winner.
IMF stated that despite some tension in the geopolitical environment, ASEAN has strengthened trade and investment ties with China and the United States, with both countries increasing their direct investment in ASEAN. The report points out that since 2018, ASEAN countries' market share in the import markets of China and the United States has been continuously increasing, indicating that these two major countries have purchased more goods and services from Southeast Asian countries, making ASEAN an important part of the global production network. Empirical analysis shows that in addition to China and the United States, ASEAN's exports to other countries have also increased, indicating that ASEAN has not only benefited from trade transfers but has also achieved economies of scale.
As artificial intelligence data centers put pressure on the electrical grid, average American users see their bills rise.
Data shows that consumers in some areas in the USA are facing higher electricity bills due to the construction of data centers by technology companies. Major companies like Google and Amazon are expanding their data center business to compete in the field of artificial intelligence. These facilities have increased the local utility's energy costs and require grid upgrades. Utility planning documents indicate that consumers face cost hikes due to these developments. Some regulatory agencies express concerns that technology companies are not fairly bearing the related costs.
Unhappy with the content of the Harris interview, Trump sues US media CBS for a compensation of 10 billion US dollars.
Former U.S. President and Republican presidential candidate Trump has filed a lawsuit against CBS, accusing them of misleading interviewing Vice President and Democratic presidential candidate Harris on a news program with the aim of "interfering with the election," and demanding at least 10 billion US dollars in compensation. CBS responded that Trump's claims were "baseless".
Bilibili rose more than 3% pre-market trading and was upgraded to "buy" by UBS, which raised its EPS estimate per share.
Reminder for US Macro Events
(All in Peking Time)
20:30 usa non-farm employment change in October (in 10,000s)
20:30 usa unemployment rate in October
21:45 usa s&p global manufacturing PMI final value in October
22:00 usa construction spending monthly rate in September
22:00 usa ISM manufacturing PMI in October
Editor/Rocky
