According to RT, Russia has conducted a major exercise aimed at testing its strategic nuclear forces, the Kremlin said on Wednesday
The drills focused on the simulated delivery of ‘a massive nuclear strike by the strategic offensive-oriented forces in response to a nuclear strike by a simulated enemy’. Note that gold and bitcoin both jumped on the news.
US deficit is doubling as US Economy grows shows why yields are at 5%
Source: Bitcoin magazine
BlackRock's iShares Bitcoin Trust is now re-listed on the Depository Trust & Clearing Corporation $IBTC
Source: Bitcoin magazine
A Big drop in US flash PMI selling price gauge in October brings the FOMC 2% target into focus for the first time in three years
Source: Chris Williamson
Cloud growth is all what matters to the market these days
Unlike Alphabet/Google, Microsoft shares jumped as much as 6% in extended trading Tuesday after the software maker issued fiscal first-quarter results and quarterly revenue guidance that beat Wall Street estimates. Microsoft’s Intelligent Cloud segment produced $24.26 billion in revenue, up 19% and above the $23.49 billion consensus among analysts surveyed by StreetAccount. The unit comprises the Azure public cloud, SQL Server, Windows Server, Visual Studio, Nuance, GitHub and enterprise services. The firm also reported a surge in profit due to a slower pace of operating expense growth. In a nutshell: $MSFT Microsoft Q1 FY24 (ending in Sept): • Revenue +13% Y/Y to $56.5B ($1.95B beat). • Gross margin 71% (+2pp Y/Y) • Operating margin 48% (+5pp Y/Y). • EPS $2.99 ($0.34 beat). ☁️ Azure +28% fx neutral. Reaccelerating from +27% in Q4 FY23 Source: App Economy Insights
German business outlook is improving, feeding rebound hopes
Ifo expectations index rose to 84.7 in Oct, up from 83.1 in Sep and way better than BBG consensus of 83.5. "What we see here does suggest that we see a certain stabilization,” Ifo President Clemens Fuest told BBG. “The German economy will be shrinking this year, but for the final quarter we do expect a stabilization, slight growth.” Source: HolgerZ, Bloomberg
Alphabet reported 11% revenue growth in the third quarter, as a rebound in advertising pushed expansion into double digits for the first time in over a year
The shares dropped almost 7% in extended trading as the cloud business missed analysts’ estimates. In a nutshell: $GOOG Alphabet Q3 FY23: • Revenue +11% Y/Y to $76.7B ($1.0B beat) • Operating margin 28% (+3pp Y/Y) • EPS $1.55 ($0.10 beat) Google Cloud: • Revenue +22% Y/Y to $8.4B. • Operating margin 3% (+13pp Y/Y). Source: App Economy Insights
Equities tend to sell off with bonds when interest rates rise beyond 5%
Source: GS, TME (European equities in this case)
