Market Overview | | | S&P 500 | | -0.51% | | Pre: +0.04% |
| | | Nasdaq | | -1.07% | | Pre: +0.57% |
| | |
|
|
|
Stock & Market News | | - Disney plans mass layoffs: Disney (DIS) is reportedly preparing thousands of job cuts, targeting up to 20% in annual cost savings. The restructuring aims to improve profitability and redirect spending toward content, technology, theme parks, and cruises. Source: Bloomberg.
- Oracle seeks $20B for AI: Oracle (ORCL) plans to raise $20B through $10B in stock sales and $10B in bonds to fund its AI infrastructure buildout. The financing could increase shareholder dilution and debt pressure as Oracle invests heavily in data centers and chips. Source: WSJ.
- Apple faces Duo supply shortages: Apple (AAPL) cannot predict when iPhone Duo supply will meet demand after strong preorders for its $1,999 foldable device. Source: The Verge.
- Tesla's China sales trends: Tesla (TSLA) reported October China-made EV sales of 67,829 units, up 10.3% YoY but down 28.9% MoM. YTD sales rose 21.4% to 810,889 vehicles. Source: StockAnalysis.com.
- OpenAI appoints Driscoll: OpenAI hired former U.S. Army Secretary Dan Driscoll to advise on national security modernization and cybersecurity. The appointment strengthens its push into defense AI. Source: WSJ.
- Brookfield's $27B UK data center: Brookfield (BAM) and Drax (LON:DRX) plan to develop an AI data center in northern England with over 1 GW of capacity and potential investment exceeding $26.8B. Drax shares rose over 8% on the news. Source: CNBC.
- Binance faces $4.7B in outflows: Binance recorded $4.7B in net withdrawals, or 2.8% of its $166B in assets, after reopening withdrawals following a $6.3B hack attributed by the FBI to North Korea, which denies the hack. Sources: StockAnalysis.com / ABC.
- Automakers expand 3D printing: Rivian (RIVN), Ford (F), and GM (GM) are expanding 3D printing to produce factory tools and vehicle components faster and at lower costs. Rivian has invested over $5M in the technology, reporting millions in savings and shorter production times. Source: CNBC.
|
|
|
|
Earnings Highlights | |  | | Photo by He Junhui on Unsplash | | - Apple: Apple (AAPL) reported Q4 revenue up 12% to $114.5B and EPS of $2.10, both above estimates. It forecast 7–10% holiday-quarter revenue growth but warned that rising memory costs would reduce gross margins to 45–46%. Shares dipped 4% premarket. Source: StockAnalysis.com.
- Anthropic: Anthropic (ANT) reported Q3 revenue of $17.0B, up 1,127% YoY, while posting a $567M operating loss despite $2.5B in adjusted operating profit. Its amended IPO filing left pricing details undisclosed. Source: StockAnalysis.com.
- Palantir: Palantir (PLTR) reported Q3 revenue up 96% to $2.31B and profit of $1.13B, beating estimates. U.S. commercial revenue surged 148% to $984M, surpassing government sales, but shares fell over 7% premarket amid valuation concerns. Source: WSJ.
- Pfizer: Pfizer (PFE) reported Q3 adjusted EPS of $0.87 on $16.58B in revenue, beating estimates. The company raised its 2026 revenue guidance to $62B–$64B and adjusted EPS outlook to $2.95–$3.05, supported by new drug sales and cost reductions. Source: CNBC.
- Aramco: Saudi Aramco (TADAWUL:2223) reported a 9% rise in Q3 adjusted net income to $31.2B, with revenue up 25% to $140.5B, as higher oil prices offset Iran conflict disruptions. Source: NY Times.
|
|
|
|
Economic News | | - U.S. home prices decline: U.S. home sale prices fell 0.1% YoY to $389,601, marking their first annual decline in over three years. Pending sales plunged 15.9% YoY to a record low as elevated mortgage rates continued to weigh on affordability. Source: StockAnalysis.com.
- Oil prices rise after new strikes: Brent crude rose 1.75% to $106.60 per barrel, while WTI gained 1.7% to $98.10 after U.S. strikes on Iran’s Qeshm Island renewed supply concerns. The rebound followed a 7% selloff on Monday amid hopes for a diplomatic resolution. Source: CNBC.
- Australia raises rates to 18-year high: The Reserve Bank of Australia raised its benchmark rate by 25 basis points to 4.85%, its fifth hike this year, as inflation reached 4.3%. The bank warned that inflation could remain above its target range until late 2027. Source: StockAnalysis.com.
|
|
|
|
World News & Politics | |  | | Photo by Jesse Paul on Unsplash | | - Russian airstrike kills dozens: Russian forces reportedly dropped 9 bombs on a civilian shelter in southeastern Ukraine, killing at least 31 people and leaving 48 missing. Source: CNN.
- UK and EU advance trade deal: The UK and EU agreed on a draft deal to eliminate food export checks and certification costs, potentially delivering £5.1B in annual economic benefits. Source: BBC.
- Potential U.S.-Russia-China summit: The U.S., Russia, and China are discussing a potential Trump–Putin–Xi summit on November 18–19 to address Ukraine, nuclear arms, and trade. The meeting remains unconfirmed but could influence Russian sanctions, energy markets, and U.S.-China relations. Source: StockAnalysis.com.
- U.S. ends some trade benefits: The Trump admin. will remove South Africa and Rwanda from the AGOA trade program on January 1, 2027, ending duty-free access for eligible exports. Source: AP.
- SCOTUS rejects ballot challenge: The Supreme Court rejected the DOJ’s emergency request to segregate ballots linked to 20,000 claimed noncitizens ahead of the midterms. Lower courts questioned the reliability of the voter list. Source: NPR.
- U.S. midterms are today: Americans are voting in elections that could shift control of Congress and constrain Trump's agenda. Economic pressures, tariffs, and the unpopular Iran war are shaping voter sentiment. See the latest updates here. Source: NY Times.
|
|
|
|
Economic Events | | - 10:00 AM: JOLTs Job Openings
- 10:00 AM: Factory Orders MoM
- 4:30 PM: API Crude Oil Stock Change
- Wednesday: ISM Services PMI
- Friday: Non Farm Payrolls, Unemployment Rate, Michigan Consumer Sentiment Prelim.
|
| |
|
|
Recent Earnings | | Apple (AAPL) has released its quarterly earnings. Palantir (PLTR) has released its quarterly earnings. Vertex Pharmaceuticals (VRTX) has released its quarterly earnings. Diamondback Energy (FANG) has released its quarterly earnings. ON Semiconductor (ON) has released its quarterly earnings. Pfizer (PFE) has released its quarterly earnings. Eaton Corporation (ETN) has released its quarterly earnings. Marathon Petroleum (MPC) has released its quarterly earnings. Ferrari (RACE) has released its quarterly earnings. Apollo Global Management (APO) has released its quarterly earnings. Archer-Daniels-Midland Company (ADM) has released its quarterly earnings. BioNTech SE (BNTX) has released its quarterly earnings. |
| | View Earnings Calendar |
|
|
Upcoming Earnings | | PayPay (PAYP) will report today after close. Procore Technologies (PCOR) will report today after close. Jackson Financial (JXN) will report today after close. Owens Corning (OC) will report tomorrow before market open. Emerson Electric (EMR) will report tomorrow before market open. Snap Inc. (SNAP) will report tomorrow after market close. Cloudflare (NET) will report Thursday. Monster Beverage (MNST) will report Thursday. Constellation Energy (CEG) will report Monday. |
| | View Earnings Calendar |
|
|
This Week's IPOs | | - There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.
|
|
|
|