01 Stock Market
As of Oct 30, U.S. stock index futures performed as follows: Dow Jones futures rose 0.07% to 52,548.00, while S&P 500 futures fell 1.08% to 7,670.50 and Nasdaq 100 futures dropped 2.51% to 28,819.75. The split picture points to pressure concentrated in growth and semiconductor-related shares rather than the broader market. The Dow’s slight gain suggests defensive and cyclical support, but the deeper declines in the S&P 500 and Nasdaq 100 indicate that investors were still digesting earnings-related spending concerns and weaker sentiment toward major technology names.
Notable Stock Movers: Intel (INTC) down 24.98% at $69.07; Amazon.com (AMZN) down 6.64% at $227.59; Advanced Micro Devices (AMD) down 8.20% at $520.00; Micron Technology (MU) down 5.70% at $881.00; Taiwan Semiconductor Manufacturing (TSM) down 3.84% at $415.22; NVIDIA (NVDA) down 3.00% at $207.24; and Apple (AAPL) down 1.77% at $342.73. The broad weakness across chipmakers and megacap tech aligns with the market’s focus on capital spending, AI infrastructure costs, and softer outlooks from several large companies.
Further pressure came from other semiconductor and AI-linked names, including SanDisk (SNDK) down 8.94% at $1,211.20, Marvell Technology (MRVL) down 5.65% at $206.00, CoreWeave (CRWV) down 7.18% at $56.38, and Reddit (RDDT) down 20.99% at $102.40. In contrast, Direxion Daily Semiconductors Bear 3x Shares (SOXS) rose 19.09% to $49.64, reflecting the same risk-off tone in chips. Among Chinese ADRs and related names, Trip.com Group (TCOM) rose 2.07% to $39.36, Yum China (YUMC) rose 2.08% to $46.14, and JinkoSolar (JKS) rose 4.54% to $8.60, but these gains were not enough to offset the broader weakness in technology and growth shares.
02 Other Markets
• 10-year U.S. Treasury yield fell 1.58%, to 4.91%.
• U.S. Dollar Index fell 0.2552% to 101.64.
• WTI crude oil futures rose 1.96% to 104.00 USD/barrel; COMEX gold futures fell 1.36% to 3,976.40 USD/ounce.
03 Key News
1. Intel reported weak PC demand and a softer revenue outlook, deepening pressure on chip stocks. The company said its next-quarter sales forecast came in below expectations and noted that PC revenue declined unexpectedly. It also pointed to a slower personal-computer market and higher memory-chip costs, which hurt sentiment across the semiconductor complex.
2. Amazon warned of heavy cash burn and higher capital spending, raising concerns about AI infrastructure returns. The company signaled that next year’s capital expenditures will increase on top of already elevated spending. Management also projected holiday-quarter sales below Wall Street expectations, adding to worries that consumer demand is cooling while AI investments keep rising.
3. Colgate-Palmolive lifted its annual sales and profit-margin forecasts after stronger operating performance. The company raised its outlook on the back of improved profitability expectations, a sign that pricing and cost discipline are supporting results. The guidance upgrade stood out in a session dominated by risk aversion across technology and chips.
4. ExxonMobil beat profit estimates as refining margins surged on disrupted fuel supply. The oil producer reported adjusted earnings above consensus, helped by stronger downstream results and higher refining margins. It also kept up shareholder returns through dividends and buybacks, underscoring the benefit of tighter global fuel supply.
5. Chevron more than doubled quarterly earnings and outlined a major investment plan in Venezuela joint ventures. The company posted sharply higher profit and stronger operating cash flow, supported by robust upstream and downstream performance. It also said the joint ventures plan to invest billions over several years, signaling a longer-term production push.
6. BP beat expectations and said it will use excess cash to address remaining Deepwater Horizon liabilities. The company reported stronger-than-expected underlying profit and said net debt fell faster than targeted. Management added that surplus cash flow will help resolve lingering obligations tied to the spill, reinforcing balance-sheet repair and liability management.
7. Sanofi raised its sales-growth outlook and said it is considering larger acquisitions. The drugmaker increased its full-year sales target after strong demand for Dupixent and better-than-expected operating income. Executives also said the company is open to deals beyond its usual size range, especially in late-stage and commercial-stage assets.
8. Starbucks boosted its profit outlook and unveiled a new share repurchase plan. The company said its turnaround effort is gaining traction and paired that view with a substantial buyback authorization. It also indicated that modernization initiatives, including technology upgrades, remain a core part of its operating plan.
9. Binance disclosed a major bitcoin theft that was quickly split across multiple wallets. A hacker drained a large amount of bitcoin from the exchange’s hot wallet and moved it into separate addresses in rapid succession. The fragmentation makes recovery more difficult and highlights continued security risks in crypto markets.
10. Hong Kong-listed Mao Geping Cosmetics reported strong preliminary quarterly growth and higher profit. The company said revenue and net profit both increased at a double-digit pace, driven by sustained demand across its brand and distribution channels. It also said margins remained broadly stable, reflecting disciplined pricing and cost control.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
