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This Week’s Market Recap… 📊

Earnings season is in full swing, and we have gotten reports from 6 out of the 7 magnificent 7 companies, and they have all beat estimates. This week we have received earnings from Google, Meta, Apple, Amazon, and Microsoft.

The response to earnings between the big tech companies were very mixed. Coming into earnings season there were very high expectations for the tech companies, and not every company exceeded them. Investors also wanted to see returns from the massive amounts of investment these firms have put into Artificial Intelligence over the last year.

Google and Amazon both exceeded expectations with Google beating on cloud revenue, showcasing a 35% increase from since last year. Amazon also exceeded expectations with operating margin sitting at 11% compared to the estimated 9.3%.

Meta, Apple, and Microsoft did not exceed expectations and their stocks all declined following their reports. Meta showcased weaker than expected user numbers and Zuckerberg in the call cautioned investors about an acceleration in infrastructure expenses in 2025. Microsoft reported a beat on revenue and EPS but missed on Cloud revenue projections. Apple beat on estimates, but missed on China sales which caused the stock to decline after the worry about a slowdown in China continued.

Economic data has come in either at forecasted or hotter than expected, and has caused some investors to question if the Fed will cut rates at all in November. The labor report will be very telling and will be the last tell tale to wether or not the Fed will cut. With the election being next tuesday and the Fed meeting starting on Wednesday, some investors wonder if that will cause them to pause their rate cutting cycle.

Top ETFs on our Radar… 📈

$ARKB rose 2.5% this week after the strong rally in bitcoin to $72,000. As investors start to price in the potential of a Trump presidency and less regulation on crypto, Bitcoin increased. Yesterday, October 31st, was the 16th anniversary of Bitcoin!

Tune in every Monday and Friday for in-depth Market Analysis, Recaps, and a featured Stock & ETF.

Thanks for reading and have a great week!

-Ryan

@Theinvestingauthority