Pre-Market Report – Friday 31 October: US markets ease ahead of Apple and Amazon | SPI up 13
Description
US shares were down overnight, with the NASDAQ off 1.57% and SP500 (-0.99%) also weakening. Meta fell 11.3% as the market reacted further to their earnings update yesterday. Most of the other big players also down, with Tesla -4.6%, Microsoft -2.9% and Nvidia -2%. Two brighter spots were Amazon, which is up a powerful 11.6% in the after market after its update showed its AWS division had the strongest growth in three years. Apple’s quarterly revenue also came in higher than expectations, with new iPhone models and AI enabled hardware like AirPods giving the sales outlook a strong boost.
Apple and Amazon up substantially after hours on results.
SPI futures up 13 points. The ASX to open higher. EDV update - AGMs and Quarterlies.
Gold lifted 2% after its recent weakness, likely helped from the recent rate cut from the Fed and ongoing demand. Gold stocks responded, with Newmont up 3.3%. Industrial metals in London were generally down.
Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.
If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.
Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.
United States
