【Morning Report】S&P 500 continues to rise for the 6th week, Apple at an all-time high, Netflix up 11%, Tokyo Metro to be listed on the 23rd

Good morning, moomoo users!Here are the key points of the morning news.

●【Tokyo Stock Market Forecast Range】8,700-9,200 yen, closing on the 18th at 8,981.75 yen
●Retail revenue indicating solid US personal consumption, rising expectations for GDP, decline in expected US interest rates
●Apple hits record high, iphone shipments increase by 3.5% in the July-September quarter
Netflix's earnings boost as paid memberships see more growth than expected.
The small-cap Russell 2000 index is firm, but there is also uncertainty in the earnings outlook.
Tokyo Metro to be listed on October 23.
- Moomoo News Julie

On the 18th, the US market saw a slight but continued increase in major indices. While Netflix rose by 11% and Apple hit record highs, the Nasdaq index outperformed others in terms of growth rate. The S&P 500 index has seen a 6-week rise, marking the longest weekly gain of the year, supported by improved sentiment and strong earnings.
On the 21st, the Tokyo stock market is expected to be dominated by buying following the previous week's rise in US stocks. However, the foreign exchange market is pushing towards a stronger yen, and with the general election looming on the 27th, there is a sense of political uncertainty adding weight to the upside of the Nikkei Stock Average.

Top News
The solid retail revenue indicates resilient personal consumption in the United States, leading to increased expectations for GDP, while expectations for a rate cut in the USA have receded.
After the announcement of higher-than-expected retail revenue in September, the GDP forecast for the July-September period by the Atlanta Federal Reserve in the USA was raised by 0.2% to 3.43%. On the other hand, expectations for a rate cut have slightly receded.

The Russell 2000 index is performing well, but there is uncertainty in the earnings outlook.
Last week, the Russell 2000 index, composed of small-cap stocks, rose by 1.87%, surpassing the 0.85% increase of the S&P 500 index.
In terms of PS (Price to Sales Ratio), it appears to have a sense of “undervaluation”, but the ratio of loss-making companies is increasing, and the performance outlook is also highly uncertain.

Tokyo Metro is scheduled to go public on October 23rd.
Tokyo Metro (9023) will go public on October 23rd. The offering price is set at the upper limit of the provisional condition, 1200 yen.
According to Bloomberg, the total offering amount will be approximately 350 billion yen. Supported by strong demand, it is expected to be the largest IPO in Japan in the past 6 years. The final day of the purchase application period is the 21st, which may affect the overall supply and demand in the market.