Microsoft & Meta Push Stocks Lower

Written By Timmy Adami

October 31, 2024

MRKT Matrix - Thursday, October 31st

  • S&P 500 tumbles for a second day, dragged lower by Microsoft and Meta (CNBC)

  • Wall Street remains confident on Microsoft’s AI story despite weak guidance. Some say to buy the dip (CNBC)

  • Meta Warns of Worsening AI Losses After Sales Narrowly Beat (Bloomberg)

  • Uber Issues Muted Holiday Forecast as It Hits Record Profit (Bloomberg)

  • Super Micro’s $50 billion stock collapse underscores risk of AI hype (CNBC)

  • Comcast is exploring separation of cable networks business (CNBC)

  • Key US Inflation Gauge and Spending Pick Up in Solid Economy (Bloomberg)

  • US Jobless Claims Fall to Five-Month Low as Storm Impact Fades (Bloomberg)

  • China Economy Picks Up on Stimulus Push Ahead of US Election (Bloomberg)

Timmy Adami
Previous

Stocks Shake Off Weak Jobs Number
Next

S&P 500 Lower on Mixed Tech Results