On Wednesday Eastern Time, the three major US stock indices collectively closed lower, with the Nasdaq hitting a historic high during trading. As of the close, the Dow Jones Industrial Average fell 0.22%, the Nasdaq fell 0.56%, and the S&P 500 index fell 0.33%.
Popular technology stocks generally fell, with AMD plummeting by over 32%, AMD falling by over 10%, Qualcomm and ASML falling by over 4%, Micron Technology falling by nearly 4%, Intel falling by over 2%, and Nvidia and TSMC falling by over 1%. Trump concept stocks weakened, with Trump Media Technology Group falling over 22%, Phunware falling over 14%, and Rumble falling over 8%. Google rose nearly 3%, while cloud business revenue increased by 35% year-on-year. Lilly fell more than 6% and its third quarter revenue fell short of expectations.
Spot gold once rose above the 2790 mark, reaching a high of $2790.01 per ounce, continuing to hit a historical high and expected to record five consecutive daily gains.
Global News
Countdown for a week! Who can win? Look at these 7 swing states
With only one week left until the US presidential election on November 5th local time, Democratic presidential candidate and Vice President Harris, as well as Republican presidential candidate and former President Trump, are intensively campaigning in seven key swing states. According to election experts in the United States, the "main battlefields" of this year's election are concentrated in seven swing states, including Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.
Too amazing! The 'small non farm payroll' in the United States in October exceeded expectations by more than twice, and the labor market is full of resilience
The latest data released on Wednesday (October 30th) Eastern Time shows that despite the devastating storm and large-scale strikes in the southeastern United States, the ADP employment data, also known as the "small non farm payroll," has reached its highest level in over a year, indicating unexpectedly strong demand for workers from businesses.
The initial annualized quarterly rate of real GDP in the third quarter of the United States is 2.8%
The initial annualized quarterly rate of real GDP in the third quarter of the United States is 2.8%, with an expected 3%, compared to the previous value of 3%. The initial annualized quarterly rate of the core PCE price index in the third quarter of the United States is 2.2%, with an expected rate of 2.1%, compared to the previous value of 2.8%. Personal consumption in the United States grew at an annualized rate of 3.7% in the third quarter.
Variable Assault! Big news from the Federal Reserve! Wall Street tycoon warns of possible 'pause in interest rate cuts'
Wall Street bigwigs suddenly issued a warning: the Federal Reserve may "pause interest rate cuts" at next week's meeting. Jeremy Siegel, a top economist in the United States and finance professor at the Wharton School, said in a recent interview that although investors are almost certain that the Federal Reserve will cut interest rates by another 25 basis points in November, if the non farm payroll report released this Friday is hot, it may overturn these expectations.
Will there be hidden mysteries in the performance of the US stock market? Bank of America: A keyword frequently appears, releasing significant positive signals
As the third quarter earnings season of the US stock market continues to advance, over one-third of US companies have already released their third quarter earnings reports. Recently, Bank of America conducted a detailed analysis of the wording used by executives of US stock companies during their third earnings conference call, and interpreted a significant signal from it: profits of US stock companies will increase significantly in 2025.
Company News
Apple launches new product: Mac mini that can be carried in your pocket with 'no extra charge' M4 Pro chip
On Tuesday local time, Apple once again released new products through a press release - this time the long rumored new Mac mini and M4 Pro chips. Generally speaking, Apple's products have little to do with "cost-effectiveness", but this time at least the entry-level Mac mini is quite competitive in terms of price and configuration.
Google's third quarter net profit increases by 30%: AI boom boosts cloud business revenue by 35%, but advertising growth slows down
After the stock market closed on October 29th local time, Google's parent company Alphabet released its financial report for the third quarter of 2024, ending on September 30th. According to the financial report, Alphabet achieved a revenue of $88.268 billion in the third quarter, a year-on-year increase of 15%, higher than analysts' expectations of $86.44 billion; Non GAAP net profit was $26.301 billion, a year-on-year increase of 34%; Diluted earnings per share were $2.12, a year-on-year increase of 37%, higher than market expectations of $1.83.
AMD expects GPU sales to exceed $5 billion this year, fourth quarter revenue guidance falls short of expectations
AMD announced its Q3 2024 results as of September 28, with revenue of $6.819 billion during the reporting period, a year-on-year increase of 18%, exceeding market expectations of $6.71 billion; Under General Accounting Principles (GAAP) in the United States, net profit was $771 million, compared to $299 million in the same period last year, a year-on-year increase of 158%; Non GAAP net profit increased by 33% year-on-year to $1.504 billion, and diluted earnings per share increased by 31% year-on-year to $0.92, in line with market expectations.
Can the seven week strike end? Boeing and union return to negotiating table, Labor Department officials act as matchmakers
On Tuesday (October 29th), with the help of labor officials in the Biden administration, Boeing and union leaders representing 33000 striking workers returned to the negotiating table for a reportedly productive meeting in an attempt to end the seven week labor dispute. This nearly two month dispute has seriously affected Boeing's manufacturing process in the United States.
Xiaopeng Huitian's "land carrier" split type flying car will make its global debut on November 12th
According to Xiaopeng Huitian, the "Land Carrier" split type flying car of Xiaopeng Huitian is about to debut at the 2024 China Air Show. On November 12th, the world's first public flight will take place at the Doumen Lianzhou exhibition area; At the same time, the 'land aircraft carrier' will also be statically displayed in Hall 8 of the Zhuhai International Air Show Center.