Contracts for the Nasdaq 100 Index slipped 1.1% and those for the S&P 500 dropped 0.5%, following a split set of results from Tesla Inc. and Meta Platforms Inc. In Asia, the Kospi Index — a barometer for the AI trade — declined 2.2% as chip heavyweights Samsung Electronics Co. and SK Hynix Inc. retreated. China’s CSI 300 Index fell 1.7% and was set for a bear market. Alibaba Group Holding Ltd. led Chinese e-commerce shares lower after the government called for quality control. The broader MSCI Asia Pacific Index lost 1%.
Tesla dropped 3.3% in post-market trading after cutting its capital-spending forecast. Meta Platforms, however, rose 2.2% after hours as the company boosted its bet on AI with spending outlook. Shares of the semiconductor capital equipment company Lam Research Corp. fell 7.4% in extended trading after a weaker-than-expected earnings forecast. Also weighing on the mood, crude oil advanced after deadly attacks in Saudi Arabia heightened concerns that escalating Middle East hostilities could hit supply. Brent climbed 1.5% to trade above $110 a barrel. The latest corporate results will test whether earnings can keep the AI trade on track as investors weigh strong growth against the mounting cost of funding the industry’s expansion. Concerns have grown that heavy spending on data centers and computing capacity may take longer to generate returns, while this year’s blistering stock rally has raised questions about stretched valuations and the risk of an AI bubble. Doubts over the economics of the AI boom have rattled markets recently, with shareholders demanding clearer evidence that enormous outlays on infrastructure will eventually pay off. The repricing has been sharp. The Nasdaq 100 lost 5.5% last week, its steepest weekly decline since President Donald Trump unveiled global tariffs in April 2025. The Philadelphia Semiconductor Index slid for eight consecutive sessions, marking its longest run of losses since October 2008. Prominent investors have added to the skepticism. Billionaire Ken Griffin said markets are “almost certainly” experiencing an AI bubble as businesses wrestle with investment decisions and the technology’s economic impact. Ray Dalio earlier this month warned that AI is a “classic bubble” that is nearing a bursting point thanks to rising interest rates and the need to turn wealth into cash. Elsewhere, the Bank of Korea kept its benchmark interest rate unchanged, pausing after a rare back-to-back increase aimed at containing inflation fueled by an unprecedented semiconductor-led economic boom. Attention is also on the rising tensions in the Middle East and the oil market. Oil rose following a deadly attack on a Saudi oil field, raising concerns that escalating hostilities in the Middle East could hit supply even as exports through the Strait of Hormuz have accelerated in recent months. The US State Department issued an ordered departure for non-emergency personnel and their families from Saudi Arabia because of the growing threat from Houthi militants in neighboring Yemen. The US and Israeli militaries have developed specific plans for renewed strikes against Iran after the American midterm elections, the New York Times reported, citing US officials and other people briefed on the deliberations.
Investors aren’t “comfortable with oil rising above 110,” said Rajeev De Mello, a global macro portfolio manager at Gama Asset Management. “We are regularly making new highs in oil and energy products, which is stagflationary. Implied volatility on oil options is rising once again reflecting uncertainty about the future path of energy as we approach the Northern Hemisphere winter.” US After Hours After Hours Summary: QS +10.3%, LBRT +8.6%, SEIC +4.5%, ESI +4.4%, CSX +4.1%, SAP +4.0%, EPRT +3.7% higher on earnings; SON -10.2%, HXL -10.1%, GGG -8.7%, ROL -7.4%, KALU -6.2%, LRCX -5.4%, OII -4.7% lower on earnings
Nikkei -2.56% Hang Seng -3.13% CSI -1.81% Kospi -3.78% Shanghai -1.44% Shenzen -2.56%
Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P -0.88% Nasdaq -1.66% EuroStoxx -1.07% FTSE -0.45% Dax -0.78% SMI +0.35%
Macro :
- EU September Car Registrations Rise 9.3% Y/y to 0.971m Units
- Einhorn’s Greenlight Lost 3.3% in 3Q, Stung by Long Positions
- Einhorn’s Greenlight Lost 3.3% in 3Q, Stung by Long Positions
- Ex-Brevan Howard Trader Sued by Quant Who Joined New Fund
- Balyasny Macro Trader Stanley Sheriff Leaves After Losses
- US Orders Some Diplomats Out of Saudi Arabia Amid Houthi Attacks
Keep an eye on :
Keep an eye on :
- AMBA US : Ambarella Shares Jump on Betaville Report of Nvidia Interest
- Anthropic IPO : Stripe and Anthropic Form Claude Duet Payments Framework
- Anthropic IPO : Anthropic Opens Research Preview of Claude Duet
- ATEA NO : Atea 3Q Ebitda Misses Estimates
- ARGX BB : Argenx 3Q Vyvgart Sales Beat Estimates
- AZN LN : Astra’s Ultomiris Gets FDA Approval for Rare Kidney Disease
- AZE BB : Azelis 3Q Revenue Beats Estimates
- BKT SM : Bankinter 3Q Net Income Meets Estimates
- BARC LN : Barclays ‘Big Believer’ In Mideast Opportunities, Khanna Says
- BESI NA : BE Semiconductor 3Q Orders Beats Estimates
- BONAVA SS : Bonava 3Q Net Sales SEK1.51B Vs. SEK1.20B Y/y
- CA FP : *CARREFOUR STUDIES BUYING CONDIS TO GROW IN CATALONIA: CINCO
- CO FP : Plesio Repays €15.3m of Quatrim Secured Debt
- COOR SS : Coor 3Q Net Sales Meet Estimates
- COV FP : Covivio 9M Occupancy 96.4%
- ACA FP : Credit Agricole CIB Names Bajaj as Head of Energy & Infra. Asia
- CVC NA : CVC Explores Bid to Take Verisure Private: FT
- DOM SS : Dometic 3Q Net Sales Beat Estimates
- EMSN SW : EMS-Chemie 9M Net Sales CHF1.51B Vs. CHF1.49B Y/y
- ENEA SS : Enea 3Q Revenue Misses Estimates
- FDJU FP : FDJ United Sees FY Recurring Ebitda Margin 23%, Saw 23% to 24%
- FGR FP : Eiffage Signs MOU With LOSC to Sell Decathlon Arena Operators
- FTK GY : FlatexDEGIRO 3Q Revenue Misses Estimates
- FNAC FP : Fnac Darty 3Q Revenue EU2.51B Vs. EU2.49B Y/y
- GALD SW : Galderma Sees FY Sales at Constant FX +22.5% to +23.5%
- GET FP : Getlink 3Q Revenue Beats Estimates
- GRNG SS : Granges 3Q Adjusted Operating Profit Beats Estimates
- RMS FP : Hermes 3Q Asia Pacific Rev. at Constant FX Misses Estimates
- HTRO SS : Hexatronic 3Q Operating Income SEK328M
- HOLN SW : Inversiones ASPI Launches Tender Offer for Cementos Pacasmayo
- HOLMB SS : Holmen 3Q Operating Profit Misses Estimates
- IHG LN : InterContinental Hotels Remains Confident of Meeting Consensus
- IPN FP : Ipsen FY Sales at Constant FX Forecast Beats Estimates
- KIN BB : Kinepolis 'Firmly on Track' for Record Year
- LDO IM : *LEONARDO-RHEINMETALL JV TO GET €3.7B ORDER FOR ITALY TANKS: MF
- LINDEX FH : Lindex 3Q Net Sales EU241.5M
- LSEG LN : LSEG Near $3.5b Deal to Buy Octus as Soon as Thursday: FT
- META US : Meta Sees 4Q Revenue $73B to $76B, Est. $73.57B: Snapshot
- META US : Zuckerberg Mulls California Move If Prop 40 Passes, Meta Says
- META US : Meta Sees 4Q Revenue $73B to $76B, Est. $73.57B: Snapshot
- META US : Zuckerberg Mulls California Move If Prop 40 Passes, Meta Says
- MONC IM : Moncler ADRs Advance as 3Q Revenue Tops Consensus Estimates
- NESN SW : Nestle 9M Real Internal Growth +1.9%
- NEX FP : Nexans 3Q Organic Revenue Beats Estimates
- NOKIA FH : Nokia 3Q Adjusted Operating Profit Beats Estimates
- NDX1 GY : Nordex Gets 192 MW Order From Mercury in New Zealand
- NXT AU : Hedge funds feast on NextDC, but brokers say it’s still a ‘buy’
- NOD NO : Nordic Semiconductor Sees 4Q Rev. $215M to $235M, Est. $217.1M
- PNDXB SS : Pandox 3Q Income From Property Management SEK1.49B
- PHARM NA : Pharming Prelim 3Q Revenue About $117.6M
- PCELL SS : PowerCell 3Q Sales SEK33.1M Vs. SEK85.8M Y/y
- PUIG SM : Puig 3Q Net Revenue Beats Estimates
- QGEN US : Qiagen Prelim 3Q Net Sales Beat Estimates
- QIA GY : EQT Is Said to Near €9.6 Billion Deal for Testing Firm Qiagen
- QGEN US : EQT to Buy Qiagen for EU46.50/Share in Cash
- R3NK GY : Renk to Sell Slide Bearings Business to Miba AG
- RTO LN : Rentokil Sees Earnings in Line With Market Expectations
- RHM GY : *LEONARDO-RHEINMETALL JV TO GET €3.7B ORDER FOR ITALY TANKS: MF
- ROP SW : Roche 3Q Sales Beat Estimates
- SAP GY : SAP 3Q Non-IFRS Cloud Revenue Beats Estimates, SAP Gains With Cloud a Highlight of Results: Street Wrap
- SAND SS : Sandvik 3Q Adjusted Operating Profit Beats Estimates
- DIM FP : Sartorius Stedim 3Q Underlying Ebitda Meets Estimates
- SRT GY : Sartorius 3Q Sales Beat Estimates
- SCATC NO : Scatec Cuts Full-Year 2026 Power Production EBITDA Forecast
- SCHP SW : Schindler Raises Ebit Margin Forecast, 3Q Ebit Beats Estimates (1)
- SMCP FP : SMCP 3Q Organic Sales -2%
- 4XO GY : Steyr Motors Maintains FY Revenue Forecast
- TELIA SS : Telia 3Q Adjusted Ebitda Beats Estimates; Upgrades FY Outlook
- TSLA US : Tesla 3Q Adjusted EPS Beats Estimates: Snapshot
- HO FP : Thales Lifts Guidance on Growing Defense, Aerospace Demand
- THULE SS : Thule 3Q Net Sales Meet Estimates
- TXN US : TI Gains as Forecast Points to Ongoing Momentum: Street Wrap
- TOBII SS : Tobii 3Q Operating Loss SEK217M
- UCB BB : UCB Raises 2026 Revenue, Adj. Ebitda Growth Guidance
- VPLAYB SS : Viaplay 3Q Sales SEK5.25B
- VSURE SS : CVC Explores Bid to Take Verisure Private: FT
- VOS GY : Vossloh 9M Ebit EU56.6M Vs. EU76.2M Y/y
- MF FP : Wendel Net Asset Value per Share EU167.00 Vs. EU158.90 Q/Q