Summary:
NVIDIA Corp.'s quarterly results failed to boost Wall Street, which still rebounded strongly.
Alphabet Inc. lost over $120 billion in market value due to DOJ actions against Chrome.
U.S. private sector activity reached a 31-month high, easing pressures on the Federal Reserve.
Bitcoin notched its fourth consecutive week of gains, nearing the $100,000 threshold.
U.S. dollar rises to two-year highs, influenced by geopolitical tensions and European economic woes.
Despite the market's widespread anticipation surrounding NVIDIA Corp.'s quarterly results, Wall Street experienced a robust rebound this week, showcasing its resilience even without the boost from its AI darling. While Nvidia exceeded analyst expectations in earnings and revenue for Q3, its stock remained largely flat.
In contrast, Alphabet Inc. faced significant challenges as shares plummeted following a DOJ call for the divestiture of Chrome, leading to a loss of over $120 billion in market capitalization in just one day. A recent poll revealed that 64% of respondents oppose breaking up the tech giant, with YouTube seen as its most valuable asset.
On the economic front, U.S. private sector activity surged to its highest levels in 31 months, driven by a strong performance in the services sector, indicating a lessened pressure on the Federal Reserve.
Bitcoin has continued its impressive streak, marking its fourth consecutive week of gains as it hovers near the historic $100,000 threshold. Meanwhile, the U.S. dollar has maintained its upward momentum, reaching two-year highs, influenced by geopolitical tensions and economic challenges in Europe.
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