On Thursday Eastern Time, the US stock market closed with mixed results. As of the close, the Dow Jones Industrial Average fell 0.33%, the Nasdaq rose 0.76%, and the S&P 500 index rose 0.21%.
Q3 profit exceeded market expectations, causing Tesla's stock price to soar nearly 22%, the largest daily increase since May 2013, and a market value increase of approximately $150 billion. IBM fell more than 6%, with Q3 consulting and infrastructure revenue falling short of expectations. UPS rose more than 5%, with non GAAP adjusted diluted earnings per share of $1.76 in the third quarter, an increase of 12.1% compared to the same period last year.
Global News
Trump overtakes in economic polls! Voters only care: who can make the money bag bulge?
According to a recent monthly poll by the Financial Times, the Republican candidate Donald Trump has overtaken Camara Harris as the candidate for Americans to vote in confidence in the economy. This reflects that voters do not believe that the Democratic Party has brought them a better life than four years ago. Now they choose to believe that if the Republican Party wins, their lives will be better.
The Federal Reserve releases a heavyweight national economic survey report!
On the early morning of October 24th Beijing time, the Federal Reserve released the National Economic Situation Survey Report (also known as the "Beige Book"). The report shows that from September to early October, there was little change in economic activity in the United States, and there was an increase in corporate recruitment. The Brown Book affirmed the achievements of the Federal Reserve in combating inflation, stating that inflationary pressures in the United States continue to ease. Analysis suggests that although the latest economic data has rebounded, Federal Reserve officials have cited some contacts' surveys of the economic situation as a reason to continue cutting interest rates.
The entire US Treasury yield curve is up 4%! Wall Street felt a strong 'shock' that night
The sell-off in the US treasury bond market shows no sign of abating. The price of treasury bond bonds fell for the third day in a row under the circumstances of widely repricing the expectation of the Federal Reserve's interest rate cut and the high victory rate of Trump in the gambling market. And this has also led to a remarkable reappearance of the bond market scene - the entire US Treasury yield curve has reached above the 4% mark.
Go against Goldman Sachs! Wall Street mostly heads: US stocks unlikely to fall into 'lost decade'
Just as the US stock market continues to hit new highs, a recent report from Goldman Sachs has sparked discussions in the market about the prospects of the US stock market. The bank predicts that after experiencing a period of high growth over the past decade, the US stock market will suffer a 'lost decade'. Regarding this, Ed Yardeni, the president of Yardeni Research, a long-term Wall Street bull and investment consulting firm, stated that Goldman Sachs' prediction of low returns for the US stock market over the next decade is too conservative.
Accidentally, the Japanese yen has once again reached a 'dangerous situation'!
The Japanese yen against the US dollar fell to its lowest level in nearly three months on Wednesday, reigniting concerns about whether Japanese officials may intervene to support the yen if it continues to depreciate. Market data shows that the Japanese yen exchange rate plummeted by about 1.4% overnight, and the US dollar rose to a high of 153.18 against the Japanese yen, the highest level since the end of July.
Company News
Tesla's third quarter profit exceeds expectations, Musk: Sales are expected to increase by 20-30% next year, and low-priced models will be launched in the first half of the year
On October 24th, Tesla released its financial report showing that in the third quarter of 2024, Tesla achieved revenue of $25.182 billion, a year-on-year increase of 8%, slightly lower than market expectations; GAAP net profit was $2.167 billion, a year-on-year increase of 17%, far exceeding market expectations; The gross profit margin increased to 19.8%, a year-on-year increase of about 2 percentage points.
Rare! Berkshire Hathaway's urgent statement concerns Buffett
On October 23rd, Berkshire Hathaway released a statement on its official website stating that its chairman Warren Buffett will not endorse investment products or political candidates. The statement said, "Given the increasing use of social media, there have been numerous fraudulent allegations about Mr. Buffett endorsing investment products and endorsing and supporting political candidates. Mr. Buffett currently does not endorse investment products, nor will he endorse and support political candidates in the future
Is Apple sounding a demand alert? IPhone 16 orders cut by approximately 10 million units, Vision Pro production may have significantly decreased
According to Guo Mingchi, Apple has reduced orders for iPhone 16 by approximately 10 million units in the fourth quarter of this year and the first half of 2025. Guo Mingchi revealed that most of the order cuts affect the regular version of iPhone 16, not iPhone 16 Pro - the latter has higher hardware configuration and is more popular among consumers. Therefore, the current estimated production of iPhone 16 in the second half of this year is 84 million units, "Guo Mingchi wrote in the article
Boeing suffered a huge loss of nearly 6.2 billion US dollars in the third quarter, and the strike continues
The strike workers at Boeing Company in the United States voted against a new salary agreement on the 23rd, and the strike that lasted for nearly six weeks continues. Boeing's financial report released earlier that day showed that due to factors such as strikes, the company lost nearly $6.2 billion in the third quarter of this year and has lost nearly $8 billion so far this year. Boeing executives predict that from now until the whole of next year, the company will continue to burn money and see little profit, requiring a fundamental corporate culture change to reverse its decline.
Two major chip giants suddenly face significant negative news! Qualcomm and Arm reportedly terminate cooperation
According to foreign media reports, Arm has issued a mandatory notice to its long-term partner Qualcomm 60 days in advance to cancel Qualcomm's architecture license agreement. If a solution cannot be reached after the expiration, Qualcomm may not be able to use Arm's instruction set for chip design. In response, Qualcomm stated that this is Arm's consistent approach - more unfounded threats aimed at forcefully oppressing long-term partners, interfering with our performance leading CPU products, and ignoring the broad rights already covered by the architecture license agreements of both parties to increase license rates.