Welcome Back,

Market Headlines 👀 

• US Federal Reserve Jerome Powell speaks at conference today urging economists to remain flexible.

• US 30y mortgage rate drops 25bps to 7.61%.

• US weekly jobless claims come in at 217k; est: 218k.

• Amazon (AMZN) announces they are building their own LLM to compete with OpenAi - called ‘Olympus’.

• Eli Lilly (LILY) receives approval for Zepbound, a weight loss drug similar to Ozempic.

• Meta Platforms (META) debuts a feature to allow users to purchase Amazon products through ads without leaving the app or website.

• Walt Disney (DIS) CEO Bob Iger discusses ESPN will partner with a major network soon to turn into streaming.

• Amazon (AMZN) announces Prime members can sign up for One Medical services for $99 annually.

Earnings 💸

• The Trade Desk (TTD)

  • EPS: $0.33 beats (exp. $0.29)

  • Revenue: $493m beats (exp. $487.2m)

• Unity technologies (U)

  • EPS: $-0.32 misses (exp. $0.17)

  • Revenue: $544.2m misses (exp. $554.17m)

• Fiverr International (FVRR)

  • EPS: $0.55 beats (exp. $0.09)

  • Revenue: $92.5m beats (exp. $91.1m)

• Wynn Resorts (WYNN)

  • EPS: $0.99 beats (exp. $0.75)

  • Revenue: $1.67b beats (exp. $1.58b)

Recap Around the Street 🧠

As long as the nominal economy can grow faster than the growth in debt, then debt servicing should be manageable. What happens with debt servicing if the economy experiences a sharp recession?(Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D).

Market Preview 🎞️

• Friday, November 10th: University of Michigan sentiment

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

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That’s all for this week, folks! We’ll be back around the same time Monday with a curated list of important news, economic data and market highlights. 

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