"Keep your eye on one thing and one thing only: how much government is spending. Because that's the true tax. If you're not paying for it in the form of explicit taxes, you're paying for it in the form of inflation or borrowing." - Milton Friedman
MSFT & META in short : big numbers still, guidance weaker and that is the key going forward, probably >>> MAG7 peak? worth lightening up on longs, SMCI story also worth following >>> lets see what AMZN and APPL reports next for a perhaps broader MAG7 view (NVDA much later in Nov) guidance key
ECB's Schnabel pushing back against larger ECB rate cuts, and against the need to cut rates below neutral
Spain : 1year worth of rain falling in 8hours - good lord
Microsoft and Meta shares softer after earnings >>> HUGE AI spending, will take time to deliver, and nuclear power takes years to develop for data centers.. & slower user growth (MSFT), “significant acceleration” in AI related costs (META)
Northern slammed as 'unreliable' as bosses admit they use FAX MACHINES!!
UK budget was a big LABOUR budget, big and bold in many ways (we can all argue where taxes should go up and to who..), sets framework for next many years, since the country voted for them one would think it's not much of a problem, sure enough the opposition will pinpoint all the negatives, that's their jobs
Lebanon’s Mikati says hopes for ceasefire with Israel in ‘coming hours or days’
Chinese EV maker BYD’s quarterly sales overtook Tesla’s for the first time
China’s economy seems on the mend in Oct, manuf PMI back in expansion, services PMI slightly weaker but still in expansion mode, comp PMI picks up from prev month
Michael Pettis on X: "1/3 Good new piece by Zongyuan Liu on the urgent need for China to rebalance its economy towards a greater role for domestic consumption, along with the structural difficulties China faces in doing so. https://t.co/XkdphxMGSr via @ForeignAffairs" / X
Autumn Budget key points: Government spending watchdog says Budget will contribute to inflation (ft.com)
Chris Giles on X: "So - one of my new roles at the FT is leading a new monetary policy service (launching soon) This is our assessment of the UK Budget https://t.co/ucaEZyraic" / X
Meta earnings recap: 3Q24 revenue hits record US$40.6bn amid concern over slower user growth --- Meta, Microsoft lift AI spending, worrying Wall Street ahead of Amazon results | The Business Standard
(Bloomberg) -- Meta Platforms Inc. CEO Mark Zuckerberg will ramp up heavy investments in AI and other futuristic technologies, continuing a years-long tug-of-war between the company’s long-term bets and the core advertising business that provides the vast majority of Meta’s revenue.
Zuckerberg warned investors Wednesday that Meta will continue to spend significantly on infrastructure and other projects like the metaverse and AI-powered glasses, efforts he believes are core to the company’s future. That will be supported by the ads business, which isn’t generating the kind of momentum Wall Street expected.
I mean come on..
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