① As of press time, Dow Jones futures fell 0.22%, S&P 500 futures fell 0.21%, and Nasdaq futures fell 0.27%. Popular Chinese concept stocks generally fell. As of press time, JD.com fell 4.2%, Alibaba fell 3.25%, and Pinduoduo fell 4.05%
② As of press time, Google's parent company Alphabet fell 1.35% in pre-market trading as the US Department of Justice considers splitting Google. On the news front, a proposal submitted by the US Department of Justice on Tuesday shows that the agency is considering requiring Google to sell some of its business to weaken the damage caused by its monopoly in the online search market.
③ Morgan Stanley: TSMC may maintain revenue growth momentum in the next five years. Morgan Stanley analysts stated in a research report that TSMC's revenue may continue to achieve a compound annual growth rate of 15% to 20% in the next five years, driven by demand for artificial intelligence chips and outsourcing from integrated equipment manufacturers. They stated that driven by strong demand for artificial intelligence chips and further increase in Apple's production of 3-nanometer chips, TSMC's gross profit margin in the fourth quarter may slightly increase from 55% in the third quarter to 55.5%.
④ Boeing fell more than 1.5% before trading and was placed on a negative watch list by S&P. As of press time, Boeing fell 1.71% before trading. On the news front, S&P has placed Boeing on a negative watch list and may downgrade its rating to "junk" level. Boeing's current rating is BBB -, with a negative outlook. S&P estimates that the strike causes Boeing $1 billion in monthly losses, and assuming the strike ends in the fourth quarter, the company is expected to burn $10 billion in cash by 2024.
⑤ Goldman Sachs: Geopolitical risk premium indicator slightly declines, oil prices are expected to stabilize this quarter. Goldman Sachs stated in a report released on Tuesday that the geopolitical risk premium indicator in the oil market has slightly fallen this week, and without significant disruptions, oil prices may stabilize around current levels this quarter.
⑥ As of press time, US lithium miner Arcadium Lithium has risen 31.25% in pre-market trading, as it rose over 31% and is set to be acquired by Rio Tinto at a premium of $6.7 billion. On the news front, Rio Tinto's proposed acquisition of Arcadium Lithium for $6.7 billion in cash has been approved by the board of directors, which will help the world's second-largest mining company become a major producer of key battery materials. Rio Tinto announced in a statement on Wednesday that it will acquire Arcadium Lithium at a price of $5.85 per share. This all cash offer is 90% higher than the closing price of Arcadium Lithium on October 4th.
⑦ Cerebras Systems, an AI chip startup based in California, may delay its initial public offering (IPO) due to a national security review of G42's minority stake investment in the company.
⑧ Citigroup analysts stated in a report on Tuesday that although recent labor market data may have prompted some market participants to reconsider their expectations of a Fed rate cut, the likelihood of the Fed skipping a rate cut during its November meeting is low.
⑨ Oppenheimer downgraded Microsoft's rating to "on par with the market". Investment bank Oppenheimer lowered its rating on Microsoft from "outperforming the market" to "on par with the market". The main reasons for the downgrade include the expected significant losses of Microsoft's partner OpenAI in the field of artificial intelligence, as well as the slow adoption of AI technology by enterprises, which may lead to lower than expected revenue.
⑩ At 20:00 Beijing time, FOMC voting committee member and Atlanta Fed President Bostic delivered a speech in 2024; In 2026, FOMC voting committee member and Dallas Fed President Logan delivered a speech on the current economic situation.
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