Asian stocks set for mixed start as Fed awaited
Asian stocks looked set for a mixed start Wednesday as traders evaluated another all-time high for U.S. equities and a retreat in short-term sovereign yields ahead of the Federal Reserve policy decision.
Australia opened higher and futures fell for Hong Kong. Japan is shut for a holiday. $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ contracts slipped. U.S. shares edged up to records, buoyed by the resilience of company profits to rising input costs amid pandemic-related supply chain and labor upheavals.
JPMorgan will no longer let prime brokers buy U.S. cannabis stocks
JPMorgan will no longer allow prime brokerage clients to buy U.S. cannabis-related stocks from Nov. 8, Reuters reports citing the firm’s letter to clients.
Company cites the U.S. anti-money laundering compliance framework as reason for new cannabis stocks policy in the letter.
Speculative retail options traders back in droves, Sundial says
Stock option speculators are back trading in a big way, a sign of increased risk in the U.S. equity market, according to Sundial Capital.
Speculative call buying rose to one of the highest levels on record, as a percentage of both volume and market capitalization, President Jason Goepfert said in a note Monday. Net call buying to open -- a gauge of bullish bets -- was in the top 2% of all weeks since the year 2000 and not solely thanks to demand for Tesla Inc. options, he said.
'Squid Game' crypto token cost investors' life savings after coin plunged to near zero
A 'Squid Game'-inspired cryptocurrency is trading near $0 after its founders cashed out. On Monday, the SQUID token hit a high of just over $2,860, before plummeting to effectively zero, according to CoinMarketCap. Some investors are blaming mainstream media outlets for fueling the rise of SQUID.
Elon Musk says Tesla has not signed contract with Hertz yet
$Tesla (TSLA.US)$ CEO Elon Musk said on Monday night that his electric vehicle company has yet to sign a contract with rental car company $Hertz Global Holdings, Inc. (HTZZ.US)$.
A Hertz spokeswoman Tuesday morning declined to discuss specific details of the agreement, but said the company remains "on plan" to offer the vehicles by the end of 2022. She said Tesla has already started delivering cars into its rental fleet. Tesla did not respond for comment.
Lyft says drivers are coming back, shares jump 12%
$Lyft Inc (LYFT.US)$ reported third-quarter earnings on Tuesday after the bell, sending shares surging in extended trading. Lyft CEO Logan Green said driver supply materially improved in the third quarter, up nearly 45% year-over-year. The company reported 18.94 million active riders this quarter, compared to the expected 19.69 million, per StreetAccount.
Pfizer raises covid-19 vaccine forecast as sales more than double
$Pfizer (PFE.US)$ increased its forecast for sales of its Covid-19 vaccine this year to about $36 billion, a roughly 7% boost that comes as the U.S. prepares to distribute the shot to 28 million children aged 5-to-11-years old.
The vaccine's revenue of $13 billion was the biggest contributor to Pfizer' third-quarter sales of about $24 billion, which more than doubled year over year. More than 75% of vaccine sales this year are from international sales, as the vaccine has reached 152 countries, Pfizer Chief Executive Albert Bourla said on an earnings call.
Nike is quietly preparing for the metaverse
$Nike (NKE.US)$ has filed seven trademark applications as it prepares to enter the metaverse. As part of the application, the company indicated its intent to make and sell virtual branded sneakers and apparel. People familiar with Nike’s plans said the space is a priority for the brand and consumers can expect to see more virtual rollouts in the months ahead.
Source: Bloomberg, WSJ, CNBC

$Netflix (NFLX.US)$ because of squid game