US Markets

Netflix reported third-quarter profit up 44 percent to about 3.7 billion dollars with revenue meeting estimates, but its shares fell after the company forecast a fourth-quarter slowdown and said it would miss its full-year advertising revenue target. The report also lands alongside a significant content leadership shake-up. Shares sank despite the earnings beat, which investors read as a verdict on the advertising strategy rather than on current profitability.

Elon Musk said on October 20 that Tesla and SpaceX have each formed special committees to weigh a potential merger, with independent directors evaluating the combination. Musk described the outcome as not a certainty. The discussion follows SpaceX’s first-ever quarterly profit, with revenue up 161 percent as its AI-related business scaled and capital spending coming in below expectations. Press reports put the potential combined value in the range of 3.5 trillion dollars. Tesla shares slid while SpaceX stock surged after the disclosure.

After Meta unveiled its new-generation AI agent product Muse, global chip stocks surged broadly, with AMD’s market capitalisation crossing one trillion US dollars for the first time and Intel and Qualcomm also advancing, the Bloomberg reported.

The first US-listed exchange-traded fund tied directly to staked Tron (TRX) debuted on Wall Street this Wednesday, marking a major milestone for crypto ETFs as they evolve from simple price-exposure products into yield-bearing instruments. Industry observers see the launch as an important signal of rising institutional acceptance of yield-bearing crypto assets and a possible precursor to similar products for other major tokens.

The Dow Jones Industrial Average surged approximately 800 points in a single session as investors rotated heavily from the semiconductor sector into banking and retail. Broadcom’s disappointing earnings triggered a tech selloff, with capital flowing into financial and consumer sectors seeking safety. The Nasdaq underperformed, reflecting a clear market rotation pattern.

Core Summary S&P 500 futures declined as Broadcom led a broad selloff in the semiconductor sector. Tech stocks faced mounting pressure as investors grew concerned about valuations and global demand prospects in the chip industry. Event Details According to CNBC, S&P 500 futures fell in pre-market trading, primarily dragged down by technology stocks. Broadcom shares dropped sharply, pulling down fellow chipmakers including Micron and Marvell. Emerging market stocks also retreated following Broadcom’s decline. ...

The S&P 500 closes above 7,200 for the first time and the Nasdaq Composite surpasses 25,000, driven by Apple’s strong earnings and the best April rally since November 2020.