Apple and Amazon profits boost market sentiment; US Nasdaq futures rise over 1%, spot gold fluctuates downward, cryptocurrencies decline.

Apple and Amazon profits boost market sentiment; US Nasdaq futures rise over 1%, spot gold fluctuates downward, cryptocurrencies decline.

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Strong earnings reports from Amazon and Apple boosted market sentiment, with most major global stock markets rising.

On October 31, US stock index futures rose across the board, while Asian stocks were mixed. The US dollar index and US Treasuries remained mostly flat, spot gold declined, and most cryptocurrencies dropped.

Garfield Reynolds, head of the MLIV Asia team, analyzed: The latest financial reports seem to have further eased concerns about a bubble. The artificial intelligence boom remains strong and is rapidly spreading beyond the United States. This week, accompanied by trade negotiations, the market saw wild swings, but investors are still looking for signals on global stock trends in the field of artificial intelligence.

US stock futures rose across the board: S&P 500 futures up 0.7%, Nasdaq 100 futures up more than 1.2%, Dow Jones futures up 0.1%Premarket, Amazon rose about 12%, Apple up about 3%, Netflix up about 4%Nikkei 225 index rose as much as 2.1%, Korea Composite Stock Price Index (KOSPI) up 0.7%US dollar index up 0.06% to 99.610-year US Treasury yield remained flat at 4.10%Spot gold fell slightly by 0.17% to $4,017.24/ozBitcoin fell more than 1.5%, Ethereum fell 2.6%

US stock index futures rose, with S&P 500 futures up 0.7%, Nasdaq 100 futures up more than 1.2%, and Dow Jones futures up 0.1%. Earnings reports from major tech companies like Meta and Microsoft fell short of market expectations and large US tech stocks suffered sharp drops Thursday (US time). After hours, robust earnings from Apple and Amazon boosted market sentiment.

Large technology companies are betting on artificial intelligence powered by data center servers, with ever-growing and massive investments. There are still doubts about whether huge investments in the AI sector can generate returns. Matt Maley of Miller Tabak said:

"None of this means that the AI bubble is about to burst, nor does it mean that the stock market is about to see a major reversal. However, it does increase the likelihood of a short-term pullback."

Premarket, Amazon rose about 12%. AWS achieved its fastest growth in three years, with capital expenditures exceeding expectations.

Premarket, Apple rose about 3%, services strongly supported Apple's highest revenue for the same period. The CEO said that the fourth quarter will be Apple’s best performing quarter, with revenue expected to increase by 10%-12%.

Premarket, Netflix rose about 4%. According to Reuters, Netflix is actively considering acquiring Warner Bros. Discovery's film and streaming business.

Spot gold fell 0.17% to $4,017/oz.

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