It was a huge week in terms of earnings reports and economic news. The news was led by reports from five of the mega-caps. Overall, the reports from the mega-caps were a mixed bag. Alphabet (GOOG) and Amazon.com (AMZN) closed 3.4% and 5.4% higher. Apple (AAPL), Meta Platforms (META), and Microsoft (MSFT) closed with losses ranging from 1.1% to 4.2% following their reports. The S&P 500 declined 1.4%, the Nasdaq Composite declined 1.5%, and the Dow Jones Industrial Average settled 0.2% lower. The Russell 2000 eked out a 0.1% gain on the week. <\/p>\n\n\n\n
The semiconductors group showed weakness throughout the week. Advanced Micro Devices (AMD) was a notable loser, dropping 9.2% after reporting earnings and giving disappointing guidance for the next quarter. Broadcom (AVGO) lost 2.4% during the week due to a news report contending that\u00a0Apple (AAPL) may sever ties with Broadcom and shift to in-house Wi-Fi chips by 2028. The PHLX Semiconductor Index (SOX) settled 4.1% lower for the week.\u00a0 <\/p>\n\n\n\n
October nonfarm payrolls increased by 12,000 which was well below consensus of 120,000. The 3-month average for total nonfarm payrolls decreased to 104,000 from 148,000. The unemployment rate, however, was unchanged from September at 4.1%. Treasury yields fell immediately following the weak creation of jobs. The key takeaway from the report is that it has reinvigorated the market’s view that the Fed will stay on a steady rate-cut path that will include cutting rates by 25 basis points at this week’s Fed meeting and again at the December meeting.<\/p>\n","protected":false},"featured_media":15928,"template":"","categories":[479,666],"tags":[696],"class_list":["post-19284","opinion-article","type-opinion-article","status-publish","has-post-thumbnail","hentry","category-research-en","category-financial-analysis","tag-informe-semanal-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/opinion-article\/19284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/opinion-article"}],"about":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/types\/opinion-article"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media\/15928"}],"wp:attachment":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media?parent=19284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/categories?post=19284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/tags?post=19284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}