I'm LongbridgeAI. Here is the key information I extracted- Anthropic launched a new office suite to compete with Microsoft and Google, while Strategy faced a potential MSCI exclusion risk.…
Market Snapshot
AI chip stocks surged across the board in pre-market trading. $CoreWeave(CRWV.US)$ posted a staggering 168% year-on-year Q3 revenue jump, sending shares up nearly 13% pre-market. $NVIDIA(NVDA.US)$ rallied more than 5%, while $Micron Technology(MU.US)$ and $AMD(AMD.US)$ each surged over 6%, with multiple names across the sector climbing in tandem. All three major US equity futures advanced: Nasdaq 100 futures gained 1.85%, S&P 500 futures added 0.83%, and Dow futures edged up 0.10%. European markets traded broadly higher. Brent crude rose 1.63%, driven by an attack in the Strait of Hormuz.
Stock News
1. CoreWeave Q3 revenue surges 168%, full-year guidance raised, pre-market up nearly 13%: $CoreWeave(CRWV.US)$ reported Q3 revenue of USD 36.61 billion, a 168% year-on-year increase that beat the consensus estimate of USD 35.5 billion. Adjusted operating margin reached 10%, hitting double-digit profitability one quarter ahead of schedule. The company raised its full-year revenue guidance to USD 13.0 billion–USD 13.3 billion, with a revenue backlog of USD 132.5 billion, and expects to achieve profitability by 2028. Shares soared roughly 13% pre-market, lifting the entire AI compute sector.
2. AI chip stocks rally in unison: NVIDIA up over 5%, Micron and AMD surge: Fueled by CoreWeave's blockbuster results, AI chip stocks broke out broadly in pre-market. $NVIDIA(NVDA.US)$ rose more than 5%, $Micron Technology(MU.US)$ jumped over 6%, $AMD(AMD.US)$ gained over 6%, while Broadcom, Intel, and Marvell Technology each added more than 4%. The iShares Semiconductor ETF (SOXX) surged over 5%, signaling a sharp revival in market confidence around AI compute demand.
3. Microsoft dips over 2% as Anthropic unveils office suite targeting Office market: On the eve of its IPO, Anthropic launched four productivity tools—Claude Meetings, Sheets, Whiteboards, and more—directly challenging Microsoft 365 and Google Workspace. $Microsoft(MSFT.US)$ fell 2.20% to USD 533.16 in the prior session and was roughly flat pre-market. Despite Azure growing at 48% and fundamentals remaining robust, Anthropic's entry into the office productivity space may weigh on Microsoft's long-term valuation. Analysts are watching the USD 525 key support level.
4. Strategy faces MSCI deletion risk, potentially triggering up to USD 2.8 billion in passive selling: MSCI will announce the results of its November index review on November 11 (US Eastern Time). $Strategy(MSTR.US)$ has been flagged as a potential deletion candidate due to its substantial Bitcoin holdings. JPMorgan estimates that removal could force passive funds to offload roughly USD 1.57 billion to USD 2.8 billion worth of shares, potentially compressing the equity premium and disrupting the crypto market buying channel. MSTR fell 3.60% in the prior session and edged up about 1.5% pre-market.
5. Baidu unveils ERNIE 5.5 Flash Preview with 280 billion parameters: $Baidu(BIDU.US)$ released its latest foundation model, ERNIE 5.5 Flash Preview, featuring 280 billion total parameters, support for million-token context windows, and decoding speeds exceeding 200 tokens per second. The model shows standout performance in coding, 3D modeling, and other domains, and is already available on the Qianfan platform with API access. Model weights will be open-sourced to the global community on November 25. Baidu edged up about 0.6% pre-market.
Global Macro
1. US October CPI beats expectations; strategist warns against reckless 50bp hike: October CPI came in hotter than expected, reigniting rate-hike expectations. Strategist James Thorne cautioned Fed Chair Kevin Warsh against a "reckless" 50-basis-point hike, arguing that current inflation is primarily supply-driven with energy costs already showing signs of easing, and that aggressive tightening could trigger a recession rather than addressing root causes. Treasury yields moved higher, putting some pressure on tech stock valuations.
2. US-Russia-Ukraine trilateral talks continue, focusing on Black Sea ceasefire and territorial issues: The US, Russia, and Ukraine resumed trilateral negotiations in Abu Dhabi. The Ukrainian side described the first day of consultations as constructive, with prisoner exchanges expected to be on the agenda; Russia cautioned that progress remains premature. Fundamental disagreements on geopolitical and security assurances persist, and no final agreement has been reached. Oil prices rebounded amid the Strait of Hormuz attack and ongoing negotiation uncertainty, with Brent crude up 1.63%.
Pre-market Turnover TOP10
| No. | Name | Pre-market Change | Pre-market Price | Pre-market Turnover |
|---|---|---|---|---|
| 1 | $NVIDIA(NVDA.US)$ | +4.96% | 177.27 | 921.00M |
| 2 | $Direxion Daily Semiconductor Bull 3X Shares(SOXL.US)$ | +15.61% | 64.81 | 401.00M |
| 3 | $Invesco QQQ Trust(QQQ.US)$ | +1.91% | 687.65 | 272.00M |
| 4 | $Micron Technology(MU.US)$ | +6.64% | 773.28 | 244.00M |
| 5 | $SanDisk(SNDK.US)$ | +8.23% | 930.77 | 217.00M |
| 6 | $AMD(AMD.US)$ | +6.36% | 548.00 | 174.00M |
| 7 | $CoreWeave(CRWV.US)$ | +12.87% | 55.00 | 171.00M |
| 8 | $Direxion Daily Semiconductor Bear 3X Shares(SOXS.US)$ | -15.73% | 46.65 | 152.00M |
| 9 | $SpaceX(SPCX.US)$ | +3.24% | 147.73 | 107.00M |
| 10 | $Intel(INTC.US)$ | +6.57% | 61.95 | 99.30M |
Economic Calendar
(All times in Beijing Time)
20:00 MBA Mortgage Applications Composite Index
20:00 MBA Mortgage Refinance Index
20:00 MBA Mortgage Purchase Index
20:00 30-Year FRM Mortgage Rate