☀️ Market Morning Brief 11-3
Overnight highlights:
① Apple and Palantir both reported better-than-expected earnings after the market closed last night. Apple’s iPhone revenue hit a record high, though performance in China fell short of expectations. Palantir’s revenue nearly doubled year over year, U.S. commercial revenue surpassed government revenue for the first time, and it raised its full-year guidance.
② The U.S. ISM Manufacturing PMI rose to 55.5 in October, with production reaching its highest level since 2021. However, two-thirds of surveyed companies still made negative comments, and input prices remained high, with expansion and price pressures both in play.
③ After a week-long pause, Strategy added another 811 bitcoins, bringing its holdings close to 850,000. The purchases were funded by issuing common stock, while it spent even more on buying back preferred shares over the same period.
What to watch today:
① U.S. midterm elections are being held today, with all House seats and 35 Senate seats up for election. The results will determine the pace at which crypto market structure legislation advances in next year’s new Congress.
② At 9 p.m. tonight, around 640 million KITE tokens will be unlocked, representing about 17.42% of the circulating supply. These are the first tokens to unlock for the team and investors since the project launched last year.
③ After the U.S. market closes early tomorrow morning Beijing time, AMD, Arista, and Super Micro will report earnings in succession. Data center and AI chip demand will be the key test this time around.
④ The Reserve Bank of Australia announces its rate decision around midday today, and the U.S. releases September job openings data tonight. The flow of macroeconomic data continues.
Earnings, elections, unlocks, and data releases are coming one after another—the pace picks up to full speed starting today.
$KITE
$AMD
$BTC
Overnight highlights:
① Apple and Palantir both reported better-than-expected earnings after the market closed last night. Apple’s iPhone revenue hit a record high, though performance in China fell short of expectations. Palantir’s revenue nearly doubled year over year, U.S. commercial revenue surpassed government revenue for the first time, and it raised its full-year guidance.
② The U.S. ISM Manufacturing PMI rose to 55.5 in October, with production reaching its highest level since 2021. However, two-thirds of surveyed companies still made negative comments, and input prices remained high, with expansion and price pressures both in play.
③ After a week-long pause, Strategy added another 811 bitcoins, bringing its holdings close to 850,000. The purchases were funded by issuing common stock, while it spent even more on buying back preferred shares over the same period.
What to watch today:
① U.S. midterm elections are being held today, with all House seats and 35 Senate seats up for election. The results will determine the pace at which crypto market structure legislation advances in next year’s new Congress.
② At 9 p.m. tonight, around 640 million KITE tokens will be unlocked, representing about 17.42% of the circulating supply. These are the first tokens to unlock for the team and investors since the project launched last year.
③ After the U.S. market closes early tomorrow morning Beijing time, AMD, Arista, and Super Micro will report earnings in succession. Data center and AI chip demand will be the key test this time around.
④ The Reserve Bank of Australia announces its rate decision around midday today, and the U.S. releases September job openings data tonight. The flow of macroeconomic data continues.
Earnings, elections, unlocks, and data releases are coming one after another—the pace picks up to full speed starting today.
$KITE
$AMD
$BTC