To begin their trading day, investors should be aware of the following key news items:
1. Earnings emphasis
Tuesday’s trading saw a favourable shift, with the Dow climbing 200 points and ending a four-day losing trend. Additionally up for the day were the Nasdaq Composite and S&P 500. The most recent earnings reports, which are arriving quickly, were in the spotlight for investors. This week will see reports from about 150 S&P 500 businesses.
2. Meta suing
We may be addicted to doomscrolling for a reason. Bipartisan 42 solicitors general have filed a lawsuit against Meta, claiming that the company’s social media networks are intended for children and teenagers and are therefore addicting.
3. Technology speak
Tech firms are operating only in the profit-making paradigm. Although Alphabet’s sales increased by 11% in the third quarter, the company’s cloud division fell more than $20 million short of analyst projections. In after-hours trading, that caused the shares to fall by about 7%. Microsoft’s shares rose 6% in extended trading as a result of the business reporting a 27% increase in net profits. Microsoft’s sales increased by about 13% year over year in the quarter, and it exceeded analysts’ projections for both revenue and earnings per share.
4. Concerns with fuel
Hospitals in Gaza have warned that without more fuel, they may have to close. Fuel is running out there. Food, medication, water, and other necessities are also becoming scarce. The situation is “becoming more dire by the hour,” according to a warning issued overnight by U.N. Secretary-General Antonio Guterres. If it doesn’t have the fuel supply it needs to run vehicles, desalinate water as needed, and run medical equipment after Wednesday night, the United Nations Relief and Works Agency for Palestine Refugees warned that it won’t be able to continue providing help.
5. Extra UAW Workstops
When GM released its third-quarter financial report on Tuesday morning, the United Auto Workers union reacted quickly. Approximately 5,000 UAW workers announced they will strike at a highly profitable full-size SUV facility in Texas only hours after the manufacturer reported robust earnings and record third-quarter revenue.
Source (CNBC)
