What’s News in Markets: Super Micro Plunges, Tech Worries, Amazon Rallies

WSJ Your Money Briefing

The Wall Street Journal

Business News, News

4.1 • 1.7K Ratings

🗓️ 2 November 2024

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why are investors concerned about Super Micro Computer? And what caused the sharpest tech selloff in months? Plus, why Amazon’s earnings impressed. Host Jack Pitcher discusses the biggest stock moves of the week and the news that drove them. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:23.6	Adobe Express, the quick and easy create anything app.
0:27.6	Hey listeners, it's Saturday, November 2nd.
0:34.6	I'm Jack Pitcher for The Wall Street Journal, and this is What's News and Markets.
0:39.9	Our look at the biggest stock moves of the week and the news that drove them.
0:43.9	Let's get to it.
0:45.5	A stock market rally on Friday helps stem the bleeding from a volatile week
0:49.5	as investors assess earnings reports and brace for Tuesday's election.
0:54.2	On Thursday, the tech-heavy NASDAQ had its worst sell-off in more than two months, dropping
0:58.7	almost 3%.
1:00.6	The culprit?
1:01.8	Earnings reports from Microsoft and meta-platforms that highlighted the steep costs of AI
1:06.7	spending.
1:07.9	Then the monthly jobs report and strong quarterly results from Amazon helped calm investors'
1:12.3	nerves on Friday. While the U.S. economy added fewer jobs and expected in October, likely
1:17.7	due to a major strike at Boeing and two destructive hurricanes, the unemployment rate stayed
	...

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