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The dollar and U.S. bond yields continue to rise
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Indicies open slightly lower
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The US500 remains above the 6000-point mark
The cash session in the U.S. market begins with some minor profit-taking after recent dynamic gains. However, key levels for the indexes are being maintained, and shortly afterward, the market even shows slight gains. The recent stock market increase occurs despite pressure from a dollar apprecation. Today, the USD has gained another 0.45% to 105.8000 points, the highest level since April 2024, even as the Fed has started a rate-cutting cycle. There is currently no significant concern over the forex market, as the so-called Trump Trade continues following last week’s elections. However, in the longer term, a strong dollar may gradually put pressure on the stock market.
US500
The index's current quotes are around 0%, with an upward trend as initial losses have been recovered. In the early part of the day, it lost 0.10%. From a technical analysis perspective, the key support level is the 6000-point threshold.
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Source: xStation 5
Stock News
Shopify (SHOP.US) is gaining 20% after reporting a 26% year-over-year Q3 revenue increase, marking consistent growth for six quarters. Gross merchandise volume and monthly recurring revenue rose 24%. Operating income increased 132% Y/Y, and free cash flow grew 53% to $421M. Shopify anticipates Q4 revenue to grow in the mid-to-high twenties percentage Y/Y, with gross profit growth expected to remain strong and operating expenses projected to be 32%-33% of revenue.
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Live Nation Entertainment (LYV.US) is gaining 4.60% after releasing mixed Q3 results driven by strong sponsorships and increased ticket sales. The company reported nearly all anticipated sponsorship commitments were secured, reflecting double-digit growth. Additionally, over 20 million concert tickets for 2025 have already been sold, also reflecting double-digit growth.
Grab Holdings (GRAB.US) jumped nearly 8% following better-than-expected Q3 results, with a 16% year-over-year revenue increase and On-Demand GMV rising 15%. Grab raised its FY2024 revenue outlook to $2.76B–$2.78B, reflecting a 17%-18% Y/Y increase, surpassing prior guidance and market consensus. The company also improved its adjusted EBITDA forecast to $308M–$313M and reaffirmed its target for positive adjusted free cash flow.
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Luminar Technologies (LAZR.US) is gaining 1% after mixed Q3 results. The company highlighted business expansion, including a contract extension with a major Japanese OEM for LiDAR and new software offerings. The company's LiDAR will become standard on Volvo vehicles, including the EX90. In Q4, Luminar anticipates moderate revenue growth from new contracts and cost-saving initiatives that should narrow losses, though liquidity is expected to decline by $230M–$240M due to restructuring and reduced equity program usage.
Honeywell (HON.US) is gaining over 5% after the information that activist investor Elliott Investment Management acquired a $5 billion stake, making it one of Honeywell's largest shareholders. Elliott is advocating for a strategic review, potentially including a breakup of the industrial conglomerate.
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