Financial Associated Press, October 30th news (Editor: Zhao Hao) On Tuesday, October 29th, the three major US stock indices showed mixed movements. Due to the strong performance of large tech stocks, Nasdaq rose for the fourth consecutive day to a historic high.

At the close, the Dow Jones Industrial Average fell by 0.36% to 42,233.05 points; the S&P 500 Index rose by 0.16% to 5,832.92 points; the Nasdaq Composite Index rose by 0.78% to 18,712.75 points, refreshing the high record set on July 10th.

Nasdaq Composite Index Daily Chart

"The 'Big Seven' only Tesla fell, with Google Class C rising 1.66% and continuing to rise more than 4% after hours, as the company's latest third-quarter revenue and EPS both exceeded expectations. Over 150 S&P 500 index constituents are scheduled to release quarterly results this week.

Chief Investment Strategist Chris Senyek of Wolfe Research stated, "Our feeling is that a solid earnings season may be enough to put the 'Big Seven' back on track to outperform the market once again."

Data released in the morning show that the number of job vacancies as of the end of September has dropped to 7.44 million, below the market's expected 8 million, in line with the slowdown in the labor market momentum, prompting traders to increase bets on a Fed rate cut.

Currently, the market expects the Fed to cut rates by 25 basis points at the policy meeting on November 7th, but before that, the United States will elect a new president on November 5th. Chief Market Technician Jonathan Krinsky of BTIG believes that there will be more short-term volatility in the market.

Krinsky wrote, "We do not believe that a bear market will occur, but we still firmly believe that there will be some downward volatility in the coming weeks."

Popular stocks performance

Most large cap technology stocks rose, ranked by market cap: apple up 0.12%, nvidia up 0.52%, microsoft up 1.26%, alphabet inc c up 1.66%, amazon up 1.30%, meta up 2.62%, tesla down 1.14%.

The phlx semiconductor index rose 2.31%, with only intel among the 30 component stocks falling. broadcom rose 4.20%, surpassing both tesla and eli lilly and co in total market cap; amd rose 3.96%, but dropped over 6% after hours, as the company's revenue guidance was unsatisfactory.

Trump media technology group rose 8.76%, accumulating a 220.54% increase this month. Multiple recent polls indicate Trump leading over Harris, with the gambling market heavily betting on Trump winning "quite easily".

Regarding china concept stocks, the nasdaq golden dragon china index fell 1.44% to 7,100.24 points.

Most popular china concept stocks declined, with zeekr down 8.80%, xpeng down 4.37%, nio inc down 3.61%, tal education down 3.00%, new oriental down 2.93%, li auto inc down 2.44%, tencent music down 2.36%, jd.com down 1.20%, pdd holdings down 0.43%, alibaba down 0.10%, and baidu up 0.49%.

Q3 performance summary

Alphabet's third-quarter revenue and earnings per share both exceeded expectations.

Google's parent company Alphabet reported revenue of $88.27 billion in the third quarter, exceeding analysts' expectations of $86.45 billion; earnings per share were $2.12, higher than analysts' expectation of $1.84; Google Cloud revenue was $11.35 billion, surpassing analysts' expectation of $10.79 billion; Google advertising revenue reached $65.85 billion, compared to analysts' expectation of $65.5 billion; YouTube advertising revenue was $8.92 billion, exceeding analysts' expectation of $8.89 billion; revenue from other businesses in the third quarter was $0.388 billion, analysts expected $0.3779 billion; operating profit was $28.52 billion, analysts expected $26.67 billion; revenue excluding traffic acquisition costs in the third quarter was $74.55 billion, analysts expected $72.88 billion.

AMD's adjusted earnings per share in the third quarter met expectations, but the revenue outlook for the fourth quarter was disappointing.

In the third quarter, AMD's revenue was $6.8 billion, analyst expectations were $6.71 billion; adjusted earnings per share were $0.92, matching analyst expectations; adjusted operating income was $1.72 billion, analysts expected $1.71 billion; adjusted operating profit margin was 25%, analysts expected 25.4%; research and development expenses in the third quarter were $1.64 billion, analysts expected $1.61 billion; projected revenue for the fourth quarter is between $7.2 billion to $7.8 billion, analysts expected $7.55 billion.

Visa's fourth-quarter adjusted earnings exceeded expectations.

Visa's fourth-quarter adjusted earnings were $2.71 per share, analysts expected $2.57; fourth-quarter net revenue was $9.62 billion, analysts expected $9.49 billion; fourth-quarter payment transaction volume was $3.41 trillion, analysts expected $3.4 trillion.

Snap's third-quarter revenue and adjusted earnings per share exceeded expectations.

Snap's adjusted earnings per share in the third quarter were $0.08, analysts expected $0.051; third-quarter revenue was $1.37 billion, analysts expected $1.36 billion; third-quarter adjusted EBITDA was $0.132 billion, analysts expected $0.0906 billion; third-quarter daily active users were 0.44 billion, analysts expected 0.44 billion; expected fourth-quarter revenue $1.51 billion-1.56 billion, analysts expected $1.56 billion; expected fourth-quarter adjusted EBITDA $0.21 billion-0.26 billion, analysts expected $0.233 billion; authorized repurchase of up to $0.5 billion Class A shares.

Reddit's fourth quarter revenue guidance exceeds expectations.

Reddit's third-quarter revenue was 0.3484 billion US dollars, exceeding analysts' expectations of 0.3128 billion US dollars; The third quarter net income was 0.0299 billion US dollars, surpassing analysts' expected loss of 0.0138 billion US dollars; Adjusted EBITDA in the third quarter was 94.1 million US dollars, higher than analysts' expectation of 58.9 million US dollars; Estimated fourth quarter revenue is 0.385 billion to -0.4 billion US dollars, compared to analysts' expectation of 0.3562 billion US dollars; Estimated fourth quarter adjusted EBITDA is 0.11 billion to -0.125 billion US dollars, above analysts' expectation of 0.087 billion US dollars.

First Solar's third-quarter earnings per share fell short of expectations.

First Solar's net sales in the third quarter were $0.9 billion, below the analyst's expectation of $1.07 billion; EPS for the third quarter was $2.91, lower than the analyst's expectation of $3.12; R&D expenses in the third quarter were $50.2 million, slightly below the analyst's expectation of $50.5 million.

Other company news

Apple launches new Mac mini: starting memory at 16GB, starting price of 4499 yuan.

Apple officially launched the new Mac mini on October 29, equipped with the M4 and the latest M4 Pro chips. According to Apple, the new Mac mini is designed specifically for Apple intelligent design. This personal intelligent system will completely change the way users handle work, communicate, and express themselves, while also protecting user privacy. The new Mac mini comes with a starting memory of 16GB and has a starting price as low as 4499 yuan. Pre-orders will be accepted starting on October 31, with official sales beginning on November 8.

OpenAI reportedly plans to collaborate with Broadcom and Taiwan Semiconductor to develop its own chips.

According to media reports, sources revealed that OpenAI is collaborating with Broadcom and Taiwan Semiconductor to develop its first in-house chip to support its AI systems. The report mentioned that OpenAI has explored a range of options to diversify chip supply and reduce costs. Sources indicated that the company also plans to use AMD chips alongside NVIDIA chips to meet its rapidly increasing computing power needs. Previously, OpenAI even considered setting up a chip foundry. However, according to sources, considering cost and time constraints, OpenAI has abandoned the foundry plan. Instead, the company plans to focus on in-house chip design work.

Elon Musk: It is expected that by 2040, the number of robots will exceed that of humans.

Elon Musk predicts that by 2040, the number of robots will exceed that of humans, with at least 10 billion robots in use. Humanoid robots will be priced between 0.02 million and 0.025 million US dollars.

The U.S. Food and Drug Administration investigated the Novo Nordisk factory in March.

The U.S. Food and Drug Administration (FDA) stated that they investigated the Novo Nordisk factory in March; quality issues occurred at Novo Nordisk's Kalundborg factory in Denmark. The affected factory produces the active ingredients for the weight loss drugs Ozempic and Wegovy.

Visa plans to lay off around 1,400 regular and contract employees.

According to sources, the U.S. payment giant Visa plans to lay off approximately 1,400 regular and contract employees by the end of the year. Around 1,000 people will be from technology positions; the majority will affect merchant sales and global digital partnership relationships. This layoff is part of streamlining Visa's international business. The proportion of affected regular and contract employees is not yet clear.