To The Moon

The Nasdaq Composite Index reached an all-time high ahead of major tech earnings.

🇺🇸 S&P 500 Index: 0.16% 📈

🇺🇸 Nasdaq: 0.78% 📈

🇪🇺 Stoxx 600 Index: -0.56% 📉

🇯🇵 Nikkei 225 Index: 0.77% 📈

🇭🇰 Hang Seng Index: 0.49% 📈

🇨🇳 CSI 300 Index: -1.00% 📉

🇸🇬 Straits Times Index: 0.20% 📈

The U.S. stock market had mixed results on Tuesday, with the Nasdaq Composite Index rising 0.8% to an all-time high, driven by gains in several major tech companies, while the S&P 500 Index barely rose 0.2% as investors digested the latest job vacancy data, which contradicted the September employment report.

The U.S. consumer confidence index surged to 108.7, the highest level since March 2021, far exceeding the forecast of 99.5, as consumers became more optimistic about the economy.

In September 2024, the number of job vacancies in the U.S. decreased by 418,000 to 7.443 million, significantly below the expected 7.99 million, indicating a cooling labor market.

In the Asia-Pacific region, stock markets showed mixed results, with the Nikkei 225 Index continuing its upward trend, rising by 0.8%, as investors assessed the impact of the recent elections, while the CSI 300 Index in China fell by 1.0%, with investors focusing on an upcoming high-level meeting.

In September 2024, Japan's unemployment rate was 2.4% (forecast: 2.5%), reaching the lowest level since January.

💡 Upcoming Events: 💡

The Japanese consumer confidence index and U.S. estimated GDP will be released on Wednesday.

China's manufacturing and services PMI, Japan's central bank interest rate decision, Eurozone CPI preliminary year-on-year, U.S. core PCE index, and unemployment claims will be released on Thursday.

Investors will look forward to the U.S. average hourly earnings, non-farm payrolls, unemployment rate, and ISM manufacturing PMI and China's Caixin Manufacturing PMI, all scheduled for release on Friday.

💡 Things to Know Today: 💡

1. Alphabet's $Alphabet(GOOGL)$  Q3 2024 earnings exceeded expectations, driven by strong revenue growth in its cloud division, which grew 35% year-over-year to 11.35 billion USD. Its stock rose 5.6% in after-hours trading.

Google Alphabet

2. Advanced Micro Devices (AMD) $Advanced Micro Devices(AMD)$ reported Q3 2024 earnings that met expectations, with slightly higher revenue, and emphasized that its data center business doubled sales for the second consecutive quarter. However, overall revenue expectations for Q3 2024 aligned with market predictions, and its stock fell 7.6% in extended trading.

AMD

3. Morgan Stanley $Morgan Stanley(MS)$   CEO Ted Pick stated, "The era of financial repression, zero interest rates, and zero inflation is over. Rates will be higher and face challenges worldwide. Geopolitics is back and will be part of the challenges for decades to come."

Ted Pick

4. Pfizer $Pfizer(PFE)$   reported strong Q3 2024 results, with revenue of 17.7 billion compared to expectations of 14.95 billion USD. Adjusted earnings per share were $1.06, exceeding the expected $0.62, as sales of its COVID vaccine and antiviral drug Paxlovid boosted revenues.

Pfizer

5. The EU has decided to raise tariffs on electric vehicles made in China to 45.3% after the conclusion of its high-profile investigation, a move that could provoke retaliation from Beijing.

✅ Key Takeaways:

As earnings season continues, investors need to see significant revenue and profit surprises for tech companies to perform well. Any slight misstep or merely meeting expectations could lead to increased market volatility.

@Daily_Discussion  @TigerStars  @Tiger_comments  @TigerGPT