Asia In Red, Europe Markets Gain; Crude Oil Rises 2.5% - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
U.S. markets closed lower due to concerns over rising AI-related costs at Microsoft and Meta, despite strong earnings from Amazon and Apple. Crude oil prices rose over 2% amid geopolitical tensions and potential OPEC+ production delays. European markets gained, while Asian markets mostly declined.
November 01, 2024 | 10:52 am
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NEGATIVE IMPACT
Meta shares declined due to rising AI-related costs, despite exceeding earnings expectations.
Meta's stock price fell as investors focused on the potential impact of increased AI-related costs on future earnings, overshadowing its earnings beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Microsoft shares fell due to concerns over rising AI-related costs, despite beating earnings estimates.
Microsoft's rising AI-related costs have raised concerns about future earnings, leading to a decline in its stock price despite positive earnings results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Apple's strong quarterly results were bolstered by iPhone sales growth.
Apple's robust earnings, driven by iPhone sales, are expected to have a positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Amazon reported strong quarterly results, driven by growth in cloud services.
Amazon's strong earnings, supported by growth in its cloud services, are likely to positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Crude oil prices rose over 2% due to geopolitical tensions and potential OPEC+ production delays.
The rise in crude oil prices, driven by geopolitical tensions and potential OPEC+ production delays, is likely to positively impact oil-related ETFs like USO.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70