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A revival of the artificial-intelligence trade sent stocks higher as US voting got underway in the midterm elections. A closely watched gauge of chipmakers climbed 3.5% after a recent selloff fueled by worries the AI spending spree is becoming harder to justify. Joe Quinlan, Chief Market Strategist at Bank of America, discusses the CapEx boom and what questions investors should be asking themselves.
On this episode of Stock Movers: - Shopify (SHOP) shares are plunging after its quarterly revenue missed analysts' expectations for the first time in four years. - Lattice Semiconductor (LSCC) shares are soaring after the chipmaker's outlook showed strong visibility, suggesting robust growth into 2028. - Yum Brands (YUM) shares jumped on "better-than-feared" Taco Bell 3Q sales. RBC says Taco Bell's 3Q comparable sales drop of 4% is better than the buyside feared.
US job openings jumped 333,000 to 7.52 million from a revised 7.19 million in August while factory orders and durable goods orders also rose. Michael McKee reports on "Bloomberg Open Interest."
Palantir Technologies expects revenue of roughly $2.65 billion in the three months ended Dec. 31. While that beat the $2.46 billion average of analysts' estimates, the guidance translates into a roughly 15% quarter-over-quarter gain, falling well below the 20% increase the firm enjoyed in the last period. Ed Ludlow reports on "Bloomberg Open Interest."
All 435 seats of the US House of Representatives and roughly a third in the Senate are being contested as millions of Americans across the country are casting ballots in the midterm election Tuesday. Early voting turnout has surpassed that of the same period for the 2022 midterms. Tyler Kendall reports on Bloomberg Television.
Craig Moffett, founding partner and senior research analyst at MoffettNathanson, says the iPhone Duo appears to be off to a strong start, with availability constrained by supply and wait times extending into January. He acknowledges that reports of cracking screens are a reputational setback, but cautions against overemphasizing them.
Craig Moffett, founding partner and senior research analyst at MoffettNathanson, says the iPhone Duo appears to be off to a strong start, with availability constrained by supply and wait times extending into January. He acknowledges that reports of cracking screens are a reputational setback, but cautions against overemphasizing them.
US lawmakers return to Capitol Hill next week with a few pressing issues to tackle before the end of the year, including the continuing budget resolution, which expires on December 11. Michael McKee has the details on Bloomberg Television.
UK Artificial Intelligence Minister Kanishka Narayan discusses his concerns about the risks of AI-driven hacks, biochemical attacks and loss of control over AI systems. "I worry about the cybersecurity stuff because it's here now," he tells Tom Mackenzie at Bloomberg Tech in London. An AI cyberattack in the UK is "extremely likely," both in the private and public sectors, Narayan says.
Disney is planning thousands of job cuts and asking some managers to target 20% in annual cost savings that could come from job eliminations as well as from expense reductions, according to people familiar with the matter. Geetha Ranganathan of Bloomberg Intelligence has more.
Paul Sankey, president at Sankey Research, explains the factors that will keep crude above $100 per barrel for the year ahead and how that could impact diesel prices. Sankey also offers his outlook for European energy supplies, saying, "it's gonna be an expensive winter for the average European." He speaks on "Bloomberg Surveillance."
As Americans vote in the US midterm elections, former US Ambassador to the EU Anthony Gardner says he's closely watching how young Black and Latino voters cast their ballots. He says the economy and affordability remain top concerns for voters. Gardner spoke on "The Pulse with Francine Lacqua" on Bloomberg TV.
