The S&P 500 ended its three-day winning streak, while the Nasdaq fell 1.4%. Google recorded a historic plunge, cloud computing stocks declined broadly, and Intel tumbled over 20% in after-hours trading, with Amazon also suffering a sharp drop. The European Central Bank kept policy unchanged. President Lagarde announced she would step down early next February, eight months ahead of her scheduled term end, initiating the succession process on the same day. U.S. September PCE prices rose 3.6% year-on-year, the highest since May, with core PCE rising to 3.1% year-on-year. The personal savings rate dropped to its lowest level since October 2022. U.S. Q3 real GDP annualized quarter-on-quarter growth reached 3.4%, hitting a one-year high and exceeding expectations, while business investment grew by 12.7%, the highest since 2020. Report: Iran received a letter from Vance, with Tehran hinting it would not compromise on conditions for ending the war. Amazon's Q3 net sales were $201.9 billion, missing expectations. EPS fell 3% year-on-year to $1.89. Capital expenditure reached $77.26 billion, exceeding expectations, while free cash flow remained negative for the second consecutive quarter. Intel plummeted over 20% in after-hours trading. Its Q4 guidance was far below expectations, citing an explosion at its Israeli factory, weak PC demand, and constrained AI chip supply. SanDisk's Q1 fiscal revenue surged nearly fourfold year-on-year, with Q2 revenue guidance exceeding expectations. Data centers remain the core growth driver for next year. Microsoft returned to the U.S. high-grade bond market for the first time in over nine years, aiming to raise at least $25 billion. The stock ultimately closed lower, giving back significant gains from the previous day's after-hours session. Eoptolink's Q3 net profit was 3.843 billion yuan, up 61.15% year-on-year but down 19% quarter-on-quarter. Inventory surged by 141%. Zhongji Innolight's Q3 revenue increased 24.62% quarter-on-quarter, and net profit rose 8.46% quarter-on-quarter. Its controlling shareholder reduced holdings by 3.2 billion yuan. PCB leader Victory Giant Technology saw Q3 net profit fall 52.2% year-on-year and 66% quarter-on-quarter. Driven by soaring AI computing power, Foxconn Industrial Internet's Q3 revenue and net profit both hit record highs. GigaDevice's Q3 net profit surged 729% year-on-year but fell 22% quarter-on-quarter. BYD's Q3 net profit rose 28.08% year-on-year to 10.019 billion yuan, with overseas expansion driving revenue growth back up to 13.59%. Vanke's revenue for the first three quarters was 105 billion yuan. The net loss narrowed by 14.5% to 23.9 billion yuan, with 34,000 homes delivered. Reminder: The Bank of Japan will announce its interest rate decision on Friday, expected to keep rates unchanged.
