Market Movers
Meta Platforms (META) faced a significant decline, dropping over 4% as the company reported fewer-than-expected user numbers in Q3. Although Meta’s earnings and revenue surpassed expectations, their announcement to increase spending raised concerns. The market reacted with caution as uncertainties around 2025 investment growth seemed to cap near-term margin expectations despite a strong quarterly report.
Microsoft (MSFT) also saw a sharp fall, down nearly 6%, following weaker-than-expected future guidance that overshadowed their fiscal Q1 results, which had exceeded estimates. Analysts noted that the guidance seemed “conservative” and advised that while Azure’s growth showed signs of deceleration, accompanied by high CapEx, there is still potential for upward revisions. They suggested buying on this weakness for long-term prospects.
Political Landscape
The upcoming U.S. presidential election is gaining significant attention, with discussions on how its outcome will influence market sentiment and the broader economic landscape through the end of the year and beyond.
Trade of the Week
The MPC Markets team highlighted that Telix and Northern Star Resources were the only “double buy” stocks featured in the recent segment on The Call, showcasing investor confidence in these companies despite broader market hesitancy.
