📈 Stocks / Finance

Nasdaq Reaches Record as Alphabet Surpasses Earnings Forecast

Reuters

The Nasdaq closed at a record 18,712.75, up 0.78%, following Alphabet's earnings report, which beat expectations. The S&P gained 0.16%, while the Dow dipped 0.36%. Communication services led sector gains, supported by Alphabet, while Treasury yields reached 4.3% amid volatile market factors.

AMD Shares Dip Amid Flat Q4 Guidance and Gaming Slump

CNBC

AMD reported Q3 earnings meeting forecasts and revenue slightly beating expectations at $6.82B. While data center sales more than doubled, driven by AI chip demand, the Q4 guidance disappointed investors, leading to a 7% drop in shares. Gaming revenue fell 68%, while gross margins rose to 54% on higher data center growth.

JPMorgan's Dimon pushes back on regulatory tightening

Reuters

JPMorgan CEO Jamie Dimon pledged to oppose U.S. regulations he says harm banks and low-income consumers, criticizing capital rules, debit fees, and open banking as overly restrictive. Dimon warned that new Basel III policies could impede bank operations, promising legal action if needed.

🪙 Crypto

Bitcoin Nears Record High as Catalysts Boost Gains

CoinDesk

Bitcoin rose to $73,500 on Tuesday, just shy of its March all-time high. The cryptocurrency has gained nearly 75% year-to-date, buoyed by demand from spot ETFs like BlackRock's IBIT, which has attracted $24 billion. Additional drivers include recent monetary easing and favorable U.S. election outlooks for crypto.

🌎 Global Economy

UNCTAD warns slow global growth hinders inequality, climate goals

UNCTAD

Global growth is set to stagnate at 2.7% in 2024-2025, per UNCTAD, limiting progress on inequality and climate targets. High debt costs, sluggish trade, and wage stagnation worsen conditions for developing nations. The report calls for inflation management, debt reform, and tech investment to foster equitable growth.

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