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Financialbuzz.com: 'Market Recap' Week Ending November 1st, 2019

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NEW YORK, Nov. 1, 2019 /PRNewswire-PRWeb/ -- U.S. markets primarily focused on another week of earnings reports as well as the Federal Reserve's decision for another rate cut this week. On Monday, markets finished stronger as they were led by upbeat earnings from Spotify and AT&T. Moreover, reports of positive U.S.- China trade talks also drove markets higher. However, on Tuesday, markets slightly retracted as investors focused on the Federal Reserve's meeting. The consensus was that the U.S. central bank would lower rates by a quarter-point for the third time this year. Initially on Tuesday, markets began stronger led by positive financial results by Merck and Pfizer. However, Alphabet's lower-than-expected earnings slightly offset early morning gains. Then on Wednesday, markets opened relatively lower ahead of the Federal Reserve meeting in addition to a report that the Chilean government had canceled a meeting where U.S. President Donald Trump was expected to meet Chinese President Xi Jinping to discuss "phase one" of trade agreements. Later in the afternoon on Wednesday, markets skyrocketed after the Federal Reserve decided to cut its benchmark fed funds rate by 0.25% to between 1.50% and 1.75%, according to MarketWatch. From the opening bell, the Dow Jones soared by as much as 154 points on Wednesday. On Thursday, however, markets tumbled by over 200 points after concerns over the trade agreement, despite positive earnings from Apple and Facebook. Bloomberg Television reported on Wednesday night that China has doubts that it can reach a long-term trade agreement with Trump. However, Trump tweeted that the U.S. and China are working to select a new site for the signing of "phase one" of a trade agreement. Trump also mentioned that the agreement is "about 60%" of a total deal and that the two leaders "will do signing [sic]." Spotify Technology S.A. (NYSE:SPOT), Facebook, Inc. (NASDAQ:FB), Apple Inc. (NASDAQ:AAPL), Etsy, Inc. (NASDAQ:ETSY), Twilio Inc. (NYSE:TWLO).

Throughout the week, investors primarily focused on earnings reports and the Federal Reserve's rate cut. Now, investors have diverted their attention back to trade talks as the U.S. and China continue to discuss negotiations. The concerns over trade matters ultimately erased gains made throughout the week from upbeat earnings results. "Trade headlines continue to offset solid earnings and optimism from the Fed and rightfully so because the global economy is really struggling right now and most of it has to do with trade," said Ryan Nauman, Market Strategist at Informa Financial Intelligence in Zephyr Cove, Nevada.

Spotify Technology S.A. (NYSE:SPOT) reported its third quarter financial results on Monday morning. The Company reported an unexpected profit for the quarter, which shares rallying by 16% during early Monday morning trading sessions. For the quarter, Spotify reported earnings of EUR 0.36 per share on revenues of EUR 1.73 Billion. Analysts expected earnings loss of EUR 0.24 per share on revenues of USD 1.72 Billion. During the quarter, Spotify reported that revenues increased by 28% year-over-year, largely led by the increase in premium users and ad-supported revenue. 

Facebook, Inc. (NASDAQ:FB) reported its third quarter financial results after the closing bell on Wednesday. The social media giant topped analysts' earnings and revenue expectations, sending shares higher by 4% shortly after reporting. For the quarter, Facebook reported earnings of USD 2.12 per share on revenues of USD 17.65 Billion. Analysts anticipated earnings of USD 1.91 per share on revenues of USD 17.35 Billion.

Apple Inc. (NASDAQ:AAPL) reported its fourth quarter financial results after the closing bell on Wednesday. The Company surpassed revenue and earnings estimates for the quarter, which sent shares 2% higher on Thursday morning. For the quarter, Apple reported earnings of USD 3.03 per share on revenues of USD 64 Billion. Analysts expected earnings of USD 2.84 per share on revenues of USD 62.99 Billion

Etsy, Inc. (NASDAQ:ETSY) reported its third quarter financial results after the closing bell on Wednesday. The Company reported in-line earnings, but topped revenue estimates, however, shares tumbled by 17% on Thursday morning. For the quarter, Etsy reported earnings of USD 0.12 per share on revenues of USD 197.94 Million. Analysts polled earnings of USD 0.12 per share on revenues of USD 193 Million.

Twilio Inc. (NYSE:TWLO) stock tumbled by 12% on Thursday after reporting its quarterly financial results on Wednesday during aftermarket hours. For the quarter, Twilio reported earnings of USD 0.03 per share on revenues of USD 295.1 Million. Refinitv analysts expected earnings of USD 0.01 per share on revenues of USD 287.8 Million. As for Twilio's guidance, the Company forecasted earnings between USD 0.01 to USD 0.02 per share on revenues in the range of USD 311 Million to USD 314 Million. Analysts polled earnings of USD 0.07 per share on revenues of USD 322 Million.

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About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.FinancialBuzz.com

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