Morning Briefing: Microsoft overtakes Apple as most valuable company

Moomoo Breakfast US wrote a column · Nov 1, 2021 05:32

Morning Briefing: Microsoft overtakes Apple as most valuable company

By Danilo

Hey, mooers! Here are things you need to know before the opening bell:

- U.S. stock futures posted a strong gain in early morning trading Monday as investors readied for the first trading day of November.

- Microsoft's market cap hit $2.49 trillion, surpassing Apple for the first time in more than a year.

Market Snapshot

U.S. stock futures posted a strong gain in early morning trading Monday as investors readied for the first trading day of November.

Market participants are gearing up for another week of corporate earnings, a key Federal Reserve meeting on Wednesday and October's jobs report.

$Dow Jones Industrial Average (.DJI.US)$ futures rose 159 points. $S&P 500 Index (.SPX.US)$ futures and $NASDAQ 100 Index (.NDX.US)$ futures both traded well into positive territory.

Source: Bloomberg

Market Temperature

Stocks shrug off downbeat Apple, Amazon earnings
Stocks edged higher Friday, defying declines in shares of $Apple (AAPL.US)$ and $Amazon (AMZN.US)$ after their earnings reports disappointed investors.

Narrowing yield gap signals worries over Fed, growth
The recent trend for shorter- and longer-term Treasurys reflects tension between investors' anticipation of higher interest rates and their concerns about economic growth.

G-20 leaders back deal to overhaul corporate tax
Leaders of the world's biggest economies endorsed a deal on corporate taxation this weekend from which the U.S. and other richer countries are set to benefit the most.

U.S. prices, wages rise at fastest pace in decades
Consumer prices rose at the fastest pace in 30 years in September while workers saw their biggest compensation boosts in at least 20 years. Consumer spending also rose in September.

Coke to pay $5.6 billion for full control of BodyArmor
The deal values the sports drink brand at about $8 billion, according to people familiar with the matter. $Coca-Cola (KO.US)$

Microsoft overtakes Apple as most valuable company
The software heavyweight's market cap hit $2.49 trillion, surpassing $Apple (AAPL.US)$ for the first time in more than a year. $Microsoft (MSFT.US)$

GameStop's chief operating officer departs
Former Amazon executive Jenna Owens has left the company after joining in March. $GameStop (GME.US)$

Read More

Bull Session | Who's next, Nvidia or Tencent?

The best trading month of the year starts now!

Central banks decisions this week

There're at least three METAs on the market, did you get confused?

NXP Semiconductors's earnings outlook

Key Events This Week