Tech Wobbles: Stocks Take a Breath Amid Mixed Signals

Qualcomm's Drop Sends Ripples

• Tech World Feeling Shaky
• Qualcomm shares dropped by 2.8%
• Warning: Potential loss of Samsung business next year
• But, better-than-expected sales and profits for this quarter

Market Volatility Continues

• Tuesday's Sell-Off
• Triggered by Wall Street predictions of a market correction
• AI stocks took a hit
• Wednesday's Recovery
• Good earnings reports and decent economic news calmed markets

Jobs Data: Mixed Signals

• Longest U.S. Government Shutdown Ever
• Investors and Federal Reserve relying on private reports
• Contradictory Reports
• One report: Private jobs rebounded last month
• Another report: Over 150,000 jobs cut in October (biggest reduction in over 20 years)

Interest Rates: What's Next?

• 67% Chance of a Rate Cut in December (down from 72% a week ago)
• Federal Reserve officials speaking later today
• Market watching closely for hints on future rate moves

Earnings Season Highlights

• 83% of S&P 500 Companies Beat Earnings Estimates (higher than usual 67%)
• Winners and Losers
• DoorDash: Shares fell 10.1% (profits below expectations)
• Elf Beauty: Shares dropped 25.4% (lower sales and profit forecast)
• Snap: Rose 20.8% (beat revenue estimates, teamed up with Perplexity AI)
• Marvell Technology: Gained 11.9% (rumors of a potential takeover by SoftBank)