Hyperscaler stocks and growth plays have underperformed amid a sharp rotation in the market.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on MarketWatch ↗
Keywords
QQQtech stocksCiticloud computing
Open a keyword to see other news on the same topic.
Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/30/2026 | 690.49 |
| Change that session | -3.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Big Tech Stocks Have Never Looked Cheaper. Is the Magnificent Seven a Screaming Buy?
The Nasdaq Composite is nearing a correction, down roughly 8% from its closing peak, after underwhelming earnings from companies including Amazon, Intel, and Sandisk fueled investor doubts about the AI trade. Hyperscalers Alphabet, Microsoft, Meta Platforms, and Amazon all fell after earnings despite reporting record profits, while the four together plan to spend more than $700 billion this year on infrastructure. Based on operating income, the group earned roughly $490 billion over the last year, and its $11.5 trillion combined market cap equals 23.5 times operating income, similar to the S&P 500. The shares have sold off largely because all except Microsoft are burning cash on AI build-outs, with Amazon's free cash flow falling to a loss of $34.8 billion in the third quarter. The author argues that fast revenue growth and cloud businesses could help these companies earn a return on their investments, and sees their substantial discounts from recent peaks as an opportunity worth considering.
- China grants approval to Citi for wholly - owned securities company in opening - up push
- China grants approval to Citi for wholly - owned securities company in opening - up push
China's securities regulator (CSRC) approved Citigroup's plan to set up a wholly-owned securities company in Shanghai, with registered capital of 1.2 billion yuan (about 178.6 million U.S. dollars). The firm will offer equities brokerage, securities investment advisory, underwriting and proprietary trading, and will be the seventh wholly foreign-owned securities firm approved in China, after J.P. Morgan, Goldman Sachs, Standard Chartered, BNP Paribas, UBS and Mizuho. Citi said it has helped Chinese clients raise more than 40 billion U.S. dollars in global capital markets since the start of this year. The approval is part of China's push to open its financial sector; since 2020, the CSRC has removed foreign ownership caps on securities firms, fund managers and futures companies. Separately, the central bank approved a Visa subsidiary to set up a bank card clearing institution in China.
- China grants approval to Citi for wholly - owned securities company in opening - up push
China's securities regulator (CSRC) approved Citigroup's plan to set up a wholly-owned securities company in Shanghai, with registered capital of 1.2 billion yuan (about 178.6 million U.S. dollars). The firm will offer equities brokerage, securities investment advisory, underwriting and proprietary trading, and will be the seventh wholly foreign-owned securities firm approved in China, after J.P. Morgan, Goldman Sachs, Standard Chartered, BNP Paribas, UBS and Mizuho. Citi said it has helped Chinese clients raise more than 40 billion U.S. dollars in global capital markets since the start of this year. The approval is part of China's push to open its financial sector; since 2020, the CSRC has removed foreign ownership caps on securities firms, fund managers and futures companies. Separately, the central bank approved a Visa subsidiary to set up a bank card clearing institution in China.
- China grants approval to Citi for wholly-owned securities company in opening-up push
- Are US Treasuries still a hedge ? Citi Australia CEO says the bonds are losing their edge
Related markets
Latest news
- Fake nuclear warnings in Ukraine as Moscow, Kyiv report separate cyberattacks on emergency apps
Ukraine's Air Force said its Air Alert app was compromised by unauthorized persons, sending false nuclear and chemical threat warnings in Kyiv and other areas, and temporarily disabled push notifications. Two hours later, Russia's Ministry for Emergency Situations said its mobile app had been hit by a massive cyberattack that sent fake information, though it is unclear whether the incidents are linked. Separately, a local ceasefire in Oleshky, Kherson region, expired after allowing aid deliveries and the evacuation of hundreds of people. Zelenskyy said October was Russia's deadliest month since the invasion began, with 54,400 troops killed or badly wounded, while Ukraine liberated 96.2 square kilometers in October, 10.4 square kilometers more than Russia captured.
- Pecoy Copper Announces C$49.8 Million Strategic Financing Led by Hudbay Minerals
Pecoy Copper (TSXV: PCU) has entered into subscription agreements with Hudbay Minerals and an additional strategic investor to raise approximately C$49.8 million in gross proceeds at C$2.02 per share. Hudbay will subscribe for 14,914,100 shares (about C$30.1 million) and the strategic investor for 9,762,425 shares (about C$19.7 million), at a 10% premium to the 10-day VWAP on the TSXV as of October 30, 2026. Each investor is expected to hold about 9.99% of the outstanding shares after closing, and Hudbay would receive rights including participation in equity financings and the right to nominate one board director. Proceeds will fund exploration, resource definition and technical studies at the Pecoy copper-gold project in southern Peru, including a planned updated mineral resource estimate. Closing is expected on or about November 5, 2026, subject to customary conditions and TSXV acceptance.
- How oil prices could average $130 per barrel next year, according to Goldman Sachs
Analysts at Goldman Sachs said Brent crude could reach $140 a barrel next year if tensions worsen in the Middle East. The article provides no further details on the basis for the forecast.
- JPMorgan Global Select Equity ETF (JGLO) Adds Microsoft and NXP on Oct. 29
JPMorgan Global Select Equity ETF (JGLO) made 10 position additions and 7 reductions on Thursday, with gross activity of $122.6 million against $6.19 billion in assets. The fund was a net seller of $33.0 million, as sales of Alphabet ($22.0 million) and Apple ($21.0 million) outweighed its largest purchase, Microsoft ($18.9 million). Other notable buys included NXP Semiconductors ($6.6 million) and Meta Platforms ($6.4 million), while Taiwan Semiconductor ($16.2 million) was among the trimmed holdings. No positions were newly opened or fully exited.
- What State Street SPDR Portfolio S&P 500 ETF (SPYM) Bought: FICO Leads on Thursday
State Street SPDR Portfolio S&P 500 ETF (SPYM) recorded a net outflow of $110.3 million on Thursday, Oct. 29, with gross activity of $116.9 million. The fund added to 19 positions and reduced 479 across its 502-stock portfolio, a broad trimming pattern. Its largest purchases were Fair Isaac (FICO), Assurant (AIZ) and A.O. Smith (AOS), each at $0.3 million, while the biggest sales were NVIDIA ($8.6 million), Apple ($8.5 million) and Microsoft ($6.6 million). No new positions were opened and no holdings were fully exited.
- Spdr Dow Jones Industrial Avg ETF (DIA) Adds Goldman Sachs and Caterpillar on Thursday
Spdr Dow Jones Industrial Average ETF Trust (DIA) recorded net buying of $130.6 million on Thursday, with no shares sold, and increased all 30 of its positions without decreasing any. Within its $45.14 billion portfolio, the largest buys were Goldman Sachs Group ($13.8 million, lifting its weight to 10.53%), Caterpillar ($9.6 million) and Microsoft ($7.9 million). Amgen ($6.8 million) and UnitedHealth Group ($6.1 million) also drew buying. None of the purchases were new positions and there were no sellouts.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.