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Markets

Amazon stock tanks 20% after revenue and guidance miss expectations (3 minute read)Amazon (AMZN) shares tanked nearly 20% in after-hours trading on Thursday after it reported misses on revenue and sales for its Amazon Web Services cloud business, along with disappointing fourth-quarter guidance. For the fourth-quarter, Amazon guided to between $140 billion and $144 billion instead of the expected $155 billion. The company, like others that operate internationally, has been hurt by the strong dollar. Amazon also faces headwinds from inflation, rising interest rates, and fears of a recession.

Meta is in trouble (3 minute read)A day after weighing in with its third-quarter earnings report, Meta is flailing. The company formerly known as Facebook was in trouble Thursday after uninspiring numbers and an apparent lack of faith in Mark Zuckerberg’s metaverse vision sent its shares plunging by 25%. Meta’s stock price is now worth almost a quarter of the all-time high of around $380 that the company recorded late last summer.

Elon Musk reportedly fires top Twitter executives as he takes over company (4 minute read)After months of legal back-and-forth, Elon Musk has reportedly completed his $44bn takeover of Twitter, taking control of the company and firing several of the top executives including CEO Parag Agrawal. Shortly after taking the helm of Twitter, Musk reportedly ousted several senior figures, including chief executive Agrawal, Ned Segal, the chief financial officer, and Vijaya Gadde, the head of legal policy, trust and safety.

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Investing

Could We See Another Lost Decade in the U.S. Stock Market? (4 minute read)Last week legendary hedge fund manager Stanley Druckenmiller told CNBC his baseline is for U.S. stocks to go nowhere for a decade. Druckenmiller has been publicly bearish for many years now but a lost decade in the stock market has happened in the past and will probably happen again in the future. This is the nature of risk assets.

Want Cheap Stocks? Look to the UK (3 minute read)In the 45 days between former UK Prime Minister Liz Truss being elected the new leader of the Conservative party and her subsequent resignation announcement, the FTSE 100 lost nearly 5% of its value. “It doesn’t just look cheap relative to its own history — it looks cheap relative to other markets too,” Bloomberg contributor John Stepek wrote on Oct. 24.

Fed Pullback? Not If It's Watching the Bond Market Closely (5 minute read)After a widely expected fourth straight 0.75% interest-rate increase next week, there's a growing view that the Federal Reserve will step down to a 0.50% bump at their December meeting. Even with inflation still going strong, there's value in the Fed becoming more flexible as rates rise to a level restrictive enough to rein in inflation and growth in coming months. But the response from financial markets this month suggests a lack of confidence that the current expected terminal rate — the level at which the Fed finally stops raising rates — is high enough to finish the job.

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Money

Creating a Safety Net For Your Life (5 minute read)Life comes at you fast. The more prepared folks take steps to set up safety nets to help mitigate the risks and uncertainty that come with their jobs, possessions, and family members. It won’t stave off disaster, but you can at least turn many otherwise serious situations into mere annoyances.

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