Source: Cailian
Financial Associated Press, October 23 (Editor Xia Junxiong)On Wednesday, as trade tensions warmed up again, the three major indices collectively closed down, with the Nasdaq index falling nearly 1%, leading the decline in the major stock indexes.
As of the closing, the Dow Jones index fell 0.71%, 46.590.41 points; the S&P 500 index fell 0.53%, 6.699.40 points; the Nasdaq index fell 0.93%, 22.740.40 points.
On the previous trading day, the index reached a new record high, surpassing 47,000 points at a time, benefiting mainly from the strong performance of Coca-Cola and 3M.
Texas Instruments shares fell 5.6% on Wednesday after the company's latest earnings report fell short of expectations and fourth-quarter guidance was also weak.
The performance of Texas Instruments dragged down the entire semiconductor sector. ON Semiconductor fell nearly 6%, AMD fell more than 3%, and the Micron Technology and VanEck Semiconductor ETFs both fell about 2%.
Netflix's stock price also dragged down the market. Shares of the streaming platform tumbled 10% after a dispute with Brazil's tax authority resulted in missing results.
Thierry Wizman, McGregor Group’s global foreign exchange and interest rate strategist, said in the report: “Al U.S. companies’ overall third-quarter earnings are better than expected, the markets may still be concerned about the management’s future performance guidelines as the quarter expands to more companies and industries.”
He added that “a handful of well-known companies (such as Nafta and Texas Instruments) have a pessimistic benchmark.”
Gold prices continued to fall, the day before recording the biggest single-day drop in more than a decade.Analysts said that this year's strong rise in gold made the rebound almost inevitable.
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The majority of major tech stocks fell, with NVIDIA falling 0.49%, Microsoft rising 0.56%, Apple falling 1.64%, Google rising 0.49%, Amazon falling 1.84%, Meta rising 0.02%, Tesla falling 0.82%, Oracle fell 0.90%, Boeing fell 0.69%.
In the hottest case, the Nasdaq China Gold Range Index fell 0.93%, Alibaba fell 0.49%, Kyoto dropped 1.13%, ZTE dropped 0.50%, ZTE rose 0.59%, ZTE dropped 1.12%, Ideal Car dropped 0.64%, ZTE dropped 1.54%, ZTE dropped 1.77%, NetEnt dropped 4.51%, Tencent Music dropped 0.44%, ZTE dropped 6.91%.
company news
iPhone Air demand lower than expected supply chain has begun to reduce shipment and production capacity
Apple analyst Guo Minghui said that the demand for iPhone Air is lower than expected, the supply chain has begun to reduce shipment and production capacity. Supply chain production capacity generally to 1Q26 will shrink by more than 80%, some parts with a longer time before shipment, is expected to stop production before the end of 2025. This means that the existing Pro series and standard version model, has been well to cover most of the higher user needs, it is difficult to find new market differentiation and positioning (from mini, Plus to the present Air attempts have been unsuccessful).
[Meta will cut about 600 jobs in AI sector to improve decision-making efficiency]
Meta isly cutting around 600 jobs in its "super-intelligent lab" artificial intelligence (AI) department, which had previously thousands of jobs. It is that the cuts will affect the company's Facebook artificial intelligence research (FAIR) department, product-related AI teams, and AI infrastructure teams, while the newly established TBD lab will not be affected. The report cited an internal memo said. Report quoted Meta's chief AI officer Alexander Wang as saying that cutting team members will help streamline decision-making processes and increase responsibilities, functional scope and influence for each position.
Google Willow Chip Reaches Quantum Computing Breakthrough
According to official news from Google, it published a breakthrough in quantum algorithms in the journal Nature. Google has implemented the first verifiable quantum advantage algorithm on the Willow chip. Google says the new algorithm, called Quantum Echoes, is verifiable and runs 13,000 times faster than the world's best supercomputers.
[Tesla's adjusted earnings fell in the third quarter and fell more than 2% after hours]
Tesla generated $281 billion in revenue in the third quarter, estimated at $263,6 billion; $0.39 per share in the third quarter, $0.62 in the same period last year; $0.5 per share in the company after adjustment in the third quarter, $0.72 in the same period last year, estimated at $0.54; 18% in the third quarter, estimated at 17.2%; and $39.9 billion in free cash flow in the third quarter, estimated at $12.5 billion.
Tesla once fell more than 2% after hours.
[IBM's third-quarter revenue was US $16.33 billion]
IBM $163,3 billion in revenue in the third quarter with market estimates of $16.1 billion; $23,7 billion in free cash flow in the third quarter with an estimate of $22,1 billion. IBM estimates $14 billion in free cash flow throughout the year and $134,8 billion in market estimates.
IBM once fell more than 5% after hours.
[Southwest Airlines' adjusted EPS in the third quarter was $0.11]
Southwest Airlines 'adjusted EPS for the third quarter was US$0.11, and analysts expected a loss per share of US$0.032; passenger revenue for the third quarter was US$6.3 billion, and analysts expected US$6.28 billion.