TREE NEWS reports: The S&P 500’s 11 sectors closed mixed, with consumer discretionary leading gains at 4.27%. Financials, real estate, materials and health care each rose at least 3.04%, telecom added 2.95% and information technology edged up 0.55%. Industrials fell 1.11% and energy dropped 4.77%, the steepest decline among the sectors.
TREE NEWS update: France’s blood agency said a cyberattack tampered with the operating parameters of some of its cold storage units, with hackers remotely changing the target temperature from about -30°C to 110°C. The breach, which targeted refrigeration maintenance firm Cool World, occurred overnight from 1 to 2 June and affected facilities in the Bourgogne-Franche-Comté region. Monitoring systems raised the alarm in time and no blood products were lost.
TREE NEWS update: Snap reported third-quarter adjusted earnings per share of $0.03, missing the $0.16 consensus estimate by a wide margin. The shortfall underscores pressure on the social media company’s profitability as it continues to invest in advertising technology and augmented reality. Snap has not yet disclosed other quarterly figures in the available material.
TREE NEWS reports: On Wednesday, Nov. 4, most US sector ETFs closed higher, with the global airlines ETF gaining 6.7%, the consumer discretionary ETF rising 4.26% and the financials ETF up 3.51%. The internet stocks index ETF added 2.36%, while the technology and global tech ETFs slipped as much as 0.44%, the semiconductor ETF fell 2.75% and the energy ETF dropped 4.74%.
TREE NEWS reports: The Bloomberg Electric Vehicle Price Return Index rose 1.61% to 2,948.77 on Wednesday, Nov. 4, staging a V-shaped reversal during Asia-Pacific trading hours. The index then held in a narrow range near its highs, with no further move from 14:00 onward.
TREE NEWS update: Google is giving schools more control over its Gemini AI, but districts that want Search without AI cannot opt out, fueling accusations the company is pressuring educators into adopting AI. The policy lets schools reject AI while losing access to Search, Google’s core product.
TREE NEWS reports: FTSE China A50 index futures closed the overnight session up 0.55% at 13,101 points. The move reflects positioning in the benchmark tracking the largest A-share companies ahead of the next cash-market open.
TREE NEWS reports: AppLovin shares rose 12% in after-hours trading. No further details on the move were provided in the available material.
TREE NEWS reports: Arm Holdings said its data center royalties doubled year-on-year in its second fiscal quarter. The company disclosed the figure without providing absolute revenue numbers or further breakdown. Data center royalties are a key growth metric for Arm as it expands beyond mobile chips.
TREE NEWS reports: Apple, Amazon and Microsoft each closed up more than 5% in the same session, with no further detail disclosed. The three technology heavyweights are among the largest constituents of major US equity indices, and their gains lifted the broader market.
TREE NEWS update: Cirrus Logic’s board of directors approved an additional share repurchase authorization of up to $500 million, the company said. The new authorization adds to the chipmaker’s existing buyback program. No timeline for the repurchases was disclosed.
TREE NEWS update: The Zcash Community Grants committee has abandoned its own proposal to taper its income and move about 36,200 ZEC from its treasury into a reserve for future miners, four days after floating the plan. The committee said Zcash’s usual governance process should decide the Dev Fund’s next steps.
TREE NEWS update: AstraZeneca has proposed to acquire Rhythm Pharma for $124 per share in cash, the company said. The offer values the transaction at a fixed cash price per share. No further terms, timeline or regulatory details were disclosed.
TREE NEWS update: Qualcomm forecast first-quarter revenue of $10.4 billion to $11.2 billion, the chipmaker said, against an analyst consensus of $10.55 billion. The guidance range brackets the Wall Street estimate, with the midpoint of $10.8 billion sitting slightly above it. The company did not provide further details in the disclosure.
TREE NEWS reports: The S&P 500 initially closed up 1.6%, with the consumer discretionary sector gaining 4.4% and financials, consumer staples, real estate and materials each rising at least about 3%, while technology added 0.3% and industrials fell 1.1%. The Nasdaq 100 initially closed up 0.9%, with Moderna up 12.1% and AppLovin up 11.5%, while Datadog fell 14.7% and the semiconductor index dropped 3.2%.
TREE NEWS reports: The Nasdaq Golden Dragon China Index closed up 3.6% in preliminary trading, led by gains in Chinese ADRs. 21Vianet rose 17.6%, Autohome gained 13%, Daqo New Energy added 9.7%, Hesai climbed 8.3%, Canadian Solar rose 6.8% and GDS gained 6.7%. Alibaba advanced 4.9%, Baidu 4.5% and NetEase 4.2%, while Meituan, Tencent and Xiaomi each rose at least about 3.8% and Pinduoduo added 2.5%. Among ETFs, CQQQ gained 6.8% and KWEB 4.5%.
TREE NEWS reports: CIBC analyst Cloherty said he expects Republicans to attempt another increase to the borrowing limit before leaving Congress in the lame-duck session, but predicted the effort will fail. That would leave the new Congress facing what CIBC calls a “fierce debt-ceiling battle in Q4 2027 and beyond.”
TREE NEWS reports: Schroders senior economist George Brown said the assumption that political compromise will bring fiscal consolidation deserves a fresh look, given a US fiscal deficit of about 6% of GDP and more than $32 trillion in publicly held debt, excluding obligations to programs such as Medicare and Social Security. With both the Trump administration and the incoming Democratic Congress pledging new spending, investors may demand a higher term premium to hold long-dated Treasuries, potentially steepening the yield curve.
TREE NEWS reports: BMO Capital Markets strategist Vail Hartman said financial markets could face a prolonged debt-ceiling standoff in 2027 if Congress fails to resolve the issue within the year. Such an outcome would reflect Democrats using the debt ceiling as leverage to extract concessions from the Trump administration, Hartman said, and could cause price distortions in short-term Treasury bills around the projected X-date while increasing volatility in cash and repo markets.
TREE NEWS reports: Deutsche Bank strategist George Saravelos said the biggest single source of domestic policy uncertainty in the US is the debt ceiling, which will become binding in the second quarter of next year. The remark flags a fiscal deadline that could weigh on markets, with the constraint set to take effect in Q2.