Following Google's earnings report, nearly $500 billion in market cap was erased, with analysts forecasting the stock will remain range-bound in the near term.
According to CNBC, Google parent Alphabet’s stock fell more than 12% to $285 after the release of its third-quarter earnings, with its market capitalization shrinking nearly $500 billion. While Google Cloud revenue rose 103% year-over-year, investors focused on earnings per share (EPS) missing estimates and negative free cash flow amid ongoing AI infrastructure spending.
Mike Khouw wrote in a CNBC column that Alphabet’s core business fundamentals remain intact, but two headwinds stand in the way of a sharp near-term rebound. First, multiple financial institutions have cut their ratings, target prices, or future earnings forecasts. He noted that stocks facing concentrated rating cuts historically tend to underperform the broader market or trade sideways over the subsequent 30 days, and institutional portfolio rebalancing will also limit upside momentum. Second, the post-earnings gap-down selloff further weakened the stock’s technical pattern. On the technical front, Alphabet’s Relative Strength Index (RSI) has dropped to the low 20s, and its MACD sell signals have strengthened.
However, Khouw argued that the stock’s proximity to its 52-week low of $270.70, paired with extreme oversold conditions, may cap further declines. On the trading strategy front, Khouw proposed using a short straddle options strategy to position for the expected range-bound volatility. He noted that a continued broad market selloff is the key downside risk, while an unexpected positive catalyst driving a sharp stock rally could threaten the strategy’s short call option leg.
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CEO of Hyperliquid’s lobbying group speaks on the Binance hack: Crypto exchanges operate most safely under CFTC regulation
Jake Chervinsky, CEO of Hyperliquid Policy Center, Hyperliquid’s lobbying group, wrote that the Binance hack incident once again demonstrates that crypto exchanges perform best and are most secure when operating under CFTC regulation. Citing remarks from CFTC Chairman Michael Selig during the announcement of the Advance Notice of Proposed Rulemaking (ANPRM) for Reg CTX/CAM, Chervinsky noted that when FTX’s offshore exchange went bankrupt, its CFTC-registered subsidiary’s customer assets remained segregated and secure.
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Intel shares plummeted 28.58%, as the value of the U.S. government's holdings evaporated by approximately $12 billion in a single day.
According to data from the BIT Stock Platform, Intel closed down 28.58% on Friday, trading at $65.76, marking its worst single-day performance since the 1970s. The roughly 10% stake held by the U.S. government in Intel lost around $120 billion in value that day, though the investment remains profitable. Nvidia’s Intel stake also lost roughly $60 billion in value. Ahead of the earnings report, Intel’s stock had rallied around 150% year-to-date. On the earnings front, Intel projected fourth-quarter revenue of $15 billion to $16 billion, below the LSEG-consensus market estimate of $17.1 billion. Adjusted earnings per share were forecast at $0.25, missing the expected $0.43. Chief Financial Officer David Zinsner stated that the PC market slowdown will persist at least through the first half of 2027, with rising costs for memory and other components weighing on the industry. Additionally, an explosion at Intel’s Israeli wafer fab this month killed two people and critically injured one, forcing an extended shutdown that impacted shipments of 10-nanometer chips. Zinsner projected the accident would result in a total revenue loss of around $6 billion over two quarters. Foundry services remain a key part of Pat Gelsinger’s push to transform the company. Intel’s 18A chip has entered mass production at its new Arizona facility, though the new chip has no external customers yet. Gelsinger said two customers are expected to be announced over the next two quarters, and development of the 14A chip is also making significant progress. D.A. Davidson downgraded Intel’s rating from Buy to Neutral, noting that while the PC industry faces broad pressure, the weakness in its business has left current valuations unsustainable. Raymond James Chief Market Strategist Matt Orton argued that this is not a “moment of reckoning” for the AI sector, with fundamentals remaining strong, though investors need to reassess their still-crowded positions in the space.
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This week, U.S. spot Bitcoin ETFs recorded a net outflow of $202.4 million, while IBIT alone saw a net inflow of $176.9 million.
According to Farside's monitoring, U.S. spot Bitcoin ETFs recorded a net outflow of $202.4 million this week. Among them, IBIT saw a net inflow of $176.9 million, and MSBT a net inflow of $4.2 million. On the net outflow side, FBTC posted a net outflow of $166 million, ARKB a net outflow of $129.5 million, and GBTC a net outflow of $53.3 million.
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StandX: DUSD Airdrop Claim Delayed, Set to Open After Binance Resumes Withdrawals
StandX has released a statement announcing that the DUSD airdrop collection, originally scheduled to open at 08:00 Beijing time on November 1, has been delayed. The delay stems from Binance’s withdrawal service remaining suspended; StandX added that the airdrop will be made available once Binance restores its withdrawal services, to ensure the stability of the DUSD stablecoin.
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Bitget upgrades its CFD forex leverage, offering up to 2,000x leverage for 21 currency pairs.
According to an official announcement, Bitget will implement dynamic leverage management for 21 forex currency pairs including EURUSD (Euro/US Dollar) and USDJPY (US Dollar/Japanese Yen) starting November 1, with the maximum leverage increased to 2,000x. The platform will also adopt a tiered margin calculation mechanism, applying corresponding margin rates to positions within different exposure tiers. This adjustment further enriches CFD leverage configuration options, improves capital efficiency and strategy flexibility, and meets users' trading needs across various market environments.
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