ADDX Go Market Morning Wrap - 30th Oct

Market Key Focus

US Market

- Markets

As investors sold small-cap and blue-chip stocks and bought technology and chip stocks, the Nasdaq rose by more than 1% during the session, setting a new record high. Telecom and technology sectors led the gains, while the rest of the sectors fell. Utilities and energy sectors led the declines.

The VIX index closed down 1.92% at 19.42.

- Stocks

Google's Q3 cloud revenue exceeded expectations, and the stock price rose more than 5% after the market closed. Executives expressed their intention to increase AI expansion efforts. AMD's performance guidance was lower than expected and the stock price fell more than 7% after the market closed.

Ford closed down 8.44% after it cut its full-year EBIT forecast due to cost issues and hurricane disruptions.

- Treasury

The 10-year U.S. Treasury yield hit a three-month high during the session, while the two-year U.S. Treasury yield fell back after rising, eventually falling by more than 4 basis points, bidding farewell to the four-day rising trend.

U.S. Treasury yields fell after rising, closing basically flat

- FX

The US dollar index fell after hitting a three-month high, with the DXY index falling 0.03% in late trading.

Asian Market

- Markets

Most Asia-Pacific stock markets rose, with the Nikkei 225 index closing up 0.8%. South Korean and Vietnamese stock markets rose slightly, while the Indonesian stock index fell slightly.

The Nasdaq Golden Dragon China Index rose 0.8% before closing down 1.44%.

- FX

The yen almost fell below 154 against the dollar, hitting a three-month low

The offshore RMB fell by more than 192 points during the session, falling below 7.16 to a two-month low. The US stock market recovered its losses during the session.

European Market

- Markets

The European STOXX 600 index closed down 0.57% at 517.99 points. The Eurozone STOXX 50 index closed down 0.40%. The FTSE Euro Stoxx 300 index closed down 0.57%.

Germany's DAX 30 index closed down 0.27%. France's CAC 40 index closed down 0.61%. The UK's FTSE 100 index closed down 0.80%. Spain's IBEX 35 index closed down 0.91%.

- Stocks

Travel stocks led the decline in European sectors, with Lufthansa falling 4.7% due to a drop in Q3 operating profit, while HSBC rose 4% as its profit exceeded expectations.

Quality problems at the active ingredient factory of weight loss drugs caused Novo Nordisk's Danish stock price to close down more than 0.2%

- Treasury

European debt fell across the board, with comparable sovereign bond yields in France, Italy and Greece rising by about 7 basis points

- FX

The euro rose 0.04% against the dollar to 1.0816, and the pound rose 0.31% against the dollar to 1.3010

Cryptocurrency Market

The leading Bitcoin futures with the largest market value rose 3.98% to $73,100.00 in late trading. It rose to $74,485.00 at 03:11 Singapore time. According to Bloomberg data, it was reported at $75,180.00 on June 5. Spot Bitcoin once rose 6% and broke through $73,000, approaching the record high set in March.

The second largest Ethereum futures rose 4.79% to $2,645.50, and rose to $2,713.00 at 01:03.

Macro

1. The US economic data is mixed. Although the US Conference Board Consumer Confidence Index in October exceeded expectations and reached a nine-month high, the US JOLTS job vacancies in September were far below expectations, hitting a three-year low, and the number of layoffs increased, adding to the signs of a weak labor market. Analysts said that the decline in JOLTS was due to short-term factors such as Hurricane Helene.
2. The "Trump deal" caused U.S. Treasury yields to rise at the beginning of the session, and then due to the JOLTS data and the strong auction of seven-year U.S. Treasury bonds, U.S. Treasury yields rose and fell. The market currently expects that the probability of the Federal Reserve cutting interest rates by 25 basis points in November is close to 100%.

Earnings For Today

Market Events

Stocks to Focus

1. Snap's third-quarter results exceeded expectations, and its stock price rose by more than 10% after the market closed. Reddit unexpectedly achieved a net profit in the third quarter, and its fourth-quarter revenue and EBITDA guidance exceeded expectations, and its stock price rose by more than 24% after the market closed.
2. Novo Nordisk fell nearly 1.1% during the session and closed down 0.34%, hovering near a nine-month low after the U.S. Food and Drug Administration (FDA) discovered quality problems at a factory that produced active ingredients for weight loss drugs.
3. Adidas' Q3 performance was better than expected, with double-digit revenue growth and gross profit margin rising to 51.3%. It also raised its full-year performance forecast and its stock price closed up 3.59%.
4. Trump Media & Technology Group (DJT) closed up 8.76% and was suspended several times during the session due to excessive volatility.