Flash News

TREE NEWS reports: The Nasdaq 100 has dropped 10% from its October peak, putting the index on course to enter correction territory. The decline marks a notable pullback for the tech-heavy benchmark from its recent record high.

TREE NEWS reports: The CBOE Volatility Index rose as much as 36.5% intraday to 23.52, its highest intraday level since April, as U.S. stocks sold off sharply. The S&P 500 was down 2.4%, the Dow fell 737 points, or 1.4%, and the Nasdaq dropped 968.73 points, or 3.7%. The Nasdaq 100 slid 1,270 points, or 4.3%, and the Philadelphia Semiconductor Index plunged 1,053.994 points, or 9.15%.

TREE NEWS reports: The Nasdaq 100 extended its decline to 4%, with Intel falling 31% and SanDisk dropping 15.1%. ALAB lost 13.6%, while Marvell Technology, Qualcomm, Arm Holdings, Datadog, AMD, Nebius, CoreWeave and Lumentum each fell more than 10%.

TREE NEWS reports: The Euro Stoxx 50 (EUSTX50) fell to 6,100 points, last trading at 6,099.17, a 24-hour decline of 1.7%. The index is a benchmark for eurozone blue-chip equities.

TREE NEWS reports: Circle, Strategy and other crypto-linked stocks fell sharply on Friday, a day after Binance disclosed a $6.3 billion security breach. Coinbase led the selloff among crypto equities as investors reacted to the scale of the incident at the rival exchange.

TREE NEWS reports: Exxon Mobil, Chevron, BP, Shell and TotalEnergies together posted $56.3 billion in adjusted net profit for their latest quarter, beating analyst estimates for the third-highest combined total on record, as Persian Gulf and Russia-Ukraine conflicts disrupted energy markets. Refining units set records, with Exxon’s refining business earning $9.05 billion in the third quarter and Chevron’s $4.93 billion. The majors resisted boosting share buybacks for fear of political backlash.

TREE NEWS update: Ford CEO told workers on Thursday the automaker aims to lift sales 20% through 2032, targeting annual sales of 5 million vehicles by 2030. The plan includes five new models priced under $40,000 and a full-electric pickup, with the Fathom electric truck due in the fourth quarter of 2027 at a $30,000 price point.

TREE NEWS reports: The Nasdaq fell to a fresh intraday low, down about 3.5% on the day, after Blackstone told investors Anthropic may not receive an investment-grade rating immediately upon listing. US 10-year Treasury futures saw about 30,000 contracts trade in one minute, the session’s largest volume bar, consistent with buying; the contract rose from 106-14 to around 106-18, while the 10-year yield pared its gain to near flat.

TREE NEWS reports: Anthropic PBC is unlikely to secure an investment-grade credit rating immediately after its US IPO and is instead expected to receive a high-yield, or junk, rating, the Financial Times reported. The classification would place the AI developer among speculative-grade issuers at the outset of its public-market life.

TREE NEWS reports: Reliance Industries, owned by billionaire Mukesh Ambani, reported a 40.6% surge in quarterly net profit, beating market expectations on strong energy and digital services performance. The group, which operates the world’s largest refining complex, processed record crude volumes in the quarter, sourcing from the Middle East and North America to limit the impact of Strait of Hormuz disruptions. Its digital arm Jio Platforms, which completed a large IPO earlier this week, posted 16.6% core profit growth.

TREE NEWS reports: Germany’s DAX 30 closed provisionally down 0.94% at 25,795.31 points, leaving it up about 2.3% for October. Italy’s main index fell 1.06%, with its bank index down 1.45% and down about 11% on the month. France’s index slipped 0.19%, while the UK index edged up 0.01%.

TREE NEWS reports: The pan-European STOXX 600 index closed provisionally 0.46% lower at 646.04 points, leaving it up about 1.7% for October. The euro zone’s STOXX 50 fell 1.32% to 6,125.23, down about 2.2% over the month. The FTSE Eurofirst 300 lost 0.49% to close at 2,576.21.

TREE NEWS reports: Reddit shares fell as much as 29% on Wednesday, marking the company’s worst intraday performance since its US initial public offering. The sharp decline extended the stock’s losses during the trading session, with no further details immediately available on the cause of the move.

TREE NEWS reports: The cost of insuring against default on debt issued by several US tech giants hit record highs on Friday, as disappointing quarterly results from Intel and Amazon deepened concerns over whether the AI financing boom will ultimately pay off. Intel’s five-year credit default swap spread jumped as much as 22.4 basis points to 127.9 basis points a year, a record in both daily increase and absolute level, ICE Data Services data showed. Amazon’s spread rose 6.9 basis points to 94 basis points a year, also a record.

TREE NEWS reports: South Africa’s FTSE/JSE Africa Top 40 index closed down 2.42% at 99,412.34 points on Friday, October 30, capping a 0.58% weekly decline and a 1.37% drop for the month. Mining stocks led the losses as spot gold fell below $3,900 an ounce, with Northam Platinum down 7.28%, Pan African Resources 6.95% and Sibanye Stillwater 6.43%.

TREE NEWS reports: Intel reported third-quarter revenue of $16.5 billion, up 21% year over year, with non-GAAP earnings per share of $0.52, beating its own guidance on gross margin and profitability for an eighth consecutive quarter. Operating cash flow was $5.1 billion, and the company held about $54 billion in cash and short-term investments at quarter-end, after completing a $23 billion public equity offering in early August.

TREE NEWS reports: Google and Amazon are seeing advertising sales and e-commerce growth decelerate even as they hold their capital expenditure guidance and press ahead with large-scale AI spending plans. Shares of Alphabet, Amazon and Meta fell after their earnings reports, with investors questioning how the AI investments will pay off. The companies have kept their capex guidance unchanged despite the selloff.

TREE NEWS reports: The Nasdaq 100 trimmed its decline to 2.6% on the day, while the S&P 500 was down 1.3%, the Dow Jones Industrial Average fell 0.5% and the Nasdaq Composite dropped 2.1%. The semiconductor index was the worst performer, sliding 6.1%.

TREE NEWS reports: JD.com said more than 20 million AI products were sold during its 11.11 shopping festival, which opened at 8 p.m. on Oct. 12, with sales of AI PCs, AI glasses, AI workstations and AI cameras doubling year on year as of 6 p.m. on Oct. 30. AI recording devices, AI microwave-steam ovens and AI electric toothbrushes posted growth of more than 200%, while sales of humanoid robots rose 700%.

TREE NEWS reports: Strategy shares fell after its Q3 earnings, but StoneX and TD Cowen maintained buy ratings, citing a $4.83 billion cash reserve and a more stable STRC preferred structure. The analysts said the preferred-stock fix sets up renewed bitcoin buying.