Big Tech's AI spending drags on stocks as Nasdaq nears correction
Nasdaq is down over 7.5% from its October 6 record and chip index is in a bear market. Investors worry about AI spending and surging borrowing by tech giants.
1 source · Moody's
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Nasdaq is down over 7.5% from its October 6 record and chip index is in a bear market. Investors worry about AI spending and surging borrowing by tech giants.
1 source · Moody's
The Singapore dollar weakened against the greenback as investors grew cautious, per Market Talk, with US midterm votes and jobs data in focus.
1 source · Market Talk
Bitcoin is trying to recover into the $77,000–$80,000 zone, but Bitfinex analysts see weak spot demand and stretched US tech valuations weighing on it.
1 source · Market Talk
Bitcoin is up 0.4% at $77,038 but has failed to reclaim $78,000 as sentiment stays fragile after the Binance hack and midterm elections loom.
1 source · Market Talk
The Singapore dollar weakens against the greenback before this week's U.S. employment figures, according to Market Talk citing MUFG Bank analysis.
1 source · Market Talk
Sensex and Nifty 50 rose for a second day running on IT share buying and a strong Jio Platforms debut, according to a Moody's-published report.
1 source · Moody's
Reuters reports Asian markets steadied before Apple earnings, Brent fell 2% on Iran mediation talks, and bets on a Fed rate hike in December remain strong.
1 source · Reuters
Bitcoin rose 0.9% to $78,503.18 in early Asian trading but remains under $80,000 after a six-week low, Market Talk reports, citing StoneX.
2 sources · Market Talk
Structural Monitoring Systems PLC said the FAA has approved a certification plan for the Boeing B737NG, according to Reuters. No further details were given.
1 source · Reuters
The US FAA has certified the Boeing 737-10, the largest 737 MAX model, opening the way for deliveries in the coming months, per Moody's report.
1 source · Moody's
The Queensland Land Court has recommended approving Whitehaven Coal's Winchester South project, which now moves to federal EPBC approval review.
1 source · Reuters
The dollar and major currencies hold steady before US midterms, while bitcoin and ether fall after a $6.3 billion theft from Binance.
4 sources · Reuters
Asian stock markets fell on doubts about the durability of AI spending, while traders bet on a possible Federal Reserve rate increase in December, Reuters reports.
1 source · Reuters
Dow Jones Newswires says the week from Nov. 2 centers on US midterms, October payrolls and rate decisions in the UK, Sweden, Norway, Brazil and Mexico.
1 source · Dow Jones Newswires
According to Seeking Alpha, the consumer discretionary sector gained nearly 7% in October, beating the S&P 500. Hasbro led the gains while Booking lagged.
1 source · Seeking Alpha
A US federal judge in Anchorage dismissed the Trump administration's lawsuit seeking to block Alaska from certifying a Senate race result, Reuters reports.
1 source · Reuters
Reuters reports that US voter lists compiled by the Trump administration could be used to challenge close midterm results, though courts have pushed back.
1 source · Reuters
According to Seeking Alpha, the S&P 500 and Nasdaq fell this week amid a tech rout. The Federal Reserve held rates steady at 3.75%-4.00%.
1 source · Seeking Alpha
According to Seeking Alpha, the technology sector fell nearly 8.3% in October as rising borrowing costs fed concerns that AI infrastructure spending could slow.
1 source · Seeking Alpha
Stocktwits previews a busy week ahead with earnings from Apple, Palantir, AMD and Super Micro, the October jobs report and several Fed speeches.
1 source · Stocktwits