Key News
1. The Federal Reserve maintained the federal funds rate at 3.75%-4.00%.
2. The preliminary estimate of the annualized quarterly rate of US real GDP in the third quarter was 3.4%, a significant acceleration from 2.2% in the previous quarter, in line with market expectations of 3.2%.
3. The US core PCE price index for September was 3.1% year-on-year, slightly higher than the previous month's 3.0%, in line with market expectations; the US core PCE price index for September was 0.3% month-on-month, in line with market expectations, compared to 0.2% previously.
4. The preliminary estimate of the quarterly rate of US real personal consumption expenditure in the third quarter was 3.8%, exceeding expectations of 3.4% and the previous value of 3.80%.
5. The preliminary estimate of the annualized quarterly rate of US core PCE price index for the third quarter was 2.5%, exceeding expectations of 2.4% and the previous value of 3.3%.
6. US initial jobless claims for the week ending October 24 were 194,000, below the expected 199,000 and the previous week's figure revised from 194,000 to 195,000.
Individual Stock News
1. Eli Lilly (LLY.N) reported third-quarter results exceeding market expectations and raised its full-year revenue outlook to $91 billion to $92 billion.
2. Microsoft (MSFT.O) launched its first 10-tranche offering of high-grade US dollar bonds since 2017. Microsoft aims to raise at least $25 billion through this bond issuance.
3. Apple (AAPL.O) officially released the new generation MacBook Pro, introducing touch functionality to the Mac product line for the first time and featuring a new ProLED XDR display. The 14-inch M5 Pro starts at $2,899.
4. Marvell Technology (MRVL.O) is in advanced talks to acquire Lumentum, a leading optical communications company, with the two parties potentially announcing a deal as early as next week.
5. Amazon (AMZN.O) ramps up its smart home efforts, releasing five new products centered around its Alexa AI assistant.
6. Alphabet (GOOG.O) reported Q3 total revenue of $127.6 billion, a 25% year-over-year increase; operating profit was $40.6 billion, a 30% year-over-year increase. Quarterly free cash flow was negative $9.1 billion, marking the second consecutive quarter of negative cash flow.
7. Shell (SHEL.N) reported Q3 non-GAAP adjusted net profit of $10.814 billion, a 99% year-over-year increase. The company significantly increased its share buyback program in Q4 from $3 billion to $5 billion.
