ANF

Market Performance: The S&P 500 is down 0.20%, while the Dow Jones is up 0.16%, reaching a new all-time high. A decline in technology stocks, particularly Broadcom, is impacting the broader market amid concerns over high valuations and AI spending.

Federal Reserve Comments: Hawkish remarks from Fed officials have led to higher T-note yields, with Chicago Fed President Goolsbee advocating for a cautious approach to rate cuts due to persistent inflation concerns. The market anticipates a low chance of a rate cut in the upcoming FOMC meeting.

Earnings Season Results: Q3 earnings for S&P 500 companies have exceeded forecasts, with 83% reporting better-than-expected results, leading to a 14.6% increase in earnings year-over-year, the best performance since 2021.

Stock Movements: Broadcom's stock fell over 7% due to a disappointing sales outlook, while silver mining stocks rose following a surge in silver prices. Notable gainers include Lululemon, which rose over 13% after strong earnings, and Quanex Building Products, which saw a 16% increase after exceeding EPS expectations.

Market Performance: The S&P 500 closed up 0.21% at a 6-week high, while the Dow Jones reached an all-time high with a 1.34% increase; however, the Nasdaq 100 fell 0.35% due to a significant drop in Oracle's shares after disappointing earnings.

Economic Indicators: Weekly initial unemployment claims rose to a 3-month high of 236,000, indicating a weaker labor market, while the US trade deficit unexpectedly shrank to $52.8 billion, the smallest in over five years.

Corporate Earnings: Q3 earnings season showed strong results, with 83% of S&P 500 companies exceeding forecasts, leading to a 14.6% increase in earnings, significantly above the expected 7.2%.

Stock Movements: Notable gainers included Royal Caribbean and managed healthcare stocks, while Oracle and Oxford Industries faced significant declines due to disappointing forecasts and earnings reports.