US Stock Market Outlook: Macro Data Released, Indices Drop, Mixed Performance for Chinese Stocks.

US Stock Futures Decline Ahead of Earnings Reports

On Tuesday morning, US stock index futures fell across the board, with the Dow futures down 0.87%, Nasdaq futures down 0.8%, and S&P 500 futures down 0.67%.

Major Tech Stocks Show Mixed Performance

Most major tech stocks, including Nvidia (NVDA), Amazon (AMZN), Microsoft (MSFT), and AMD, saw declines of over 1% in pre-market trading.

Chinese Stocks Exhibit Divergent Trends

Among popular Chinese stocks, Amer Sports (AS) surged over 8%, while Pinduoduo (PDD) dropped more than 3%. TSMC (TSM) and NIO (NIO) also fell over 1%.

Nvidia's Earnings Report Anticipated

Nvidia is set to release its earnings report after the market closes on Wednesday. Analysts expect an adjusted EPS of $1.23 and revenue of $54.83 billion for the October quarter. JPMorgan noted that the market is focused on Nvidia's supply chain capacity and the growth trajectory of its Blackwell products.

Apple Sees Surge in Sales in China

Apple (AAPL) reported a 37% year-on-year increase in sales in China for October, reaching a market share of 25%, the highest since 2022. The new iPhone 17 series contributed significantly to this growth.

Google CEO Warns of AI Market Risks

Google's CEO Sundar Pichai expressed concerns about irrational factors in the current AI investment wave, suggesting that no company, including Google, would be immune to a potential market bubble burst.

Cathie Wood Increases Investment in Cryptocurrency Stocks

Cathie Wood's ARK Invest purchased $10.2 million worth of shares in cryptocurrency exchange Bullish (BLSH), expanding its investment in the crypto sector.

Pinduoduo and Baidu Report Strong Earnings

Pinduoduo (PDD) reported Q3 revenue of 108.28 billion yuan, exceeding expectations, while Baidu (BIDU) revealed a 50% growth in AI business revenue.

Home Depot and Amer Sports Earnings Miss Expectations

Home Depot (HD) reported Q3 same-store sales growth of only 0.2%, below market expectations, while Amer Sports (AS) exceeded revenue forecasts with $1.76 billion.

Market Overview and Economic Data

The US government reported an increase in initial jobless claims, and the Federal Reserve faces internal disagreements regarding interest rate decisions. Deutsche Bank reassured that the fundamentals remain strong despite recent market volatility.

Conclusion

As earnings reports roll in, investors are closely monitoring the performance of major tech companies and the implications for the broader market.