Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
As we head into Halloween, Wall Street appears to be facing a mix of tricks and treats.
Investors were spooked by some Big Tech capex plans, with all three major indexes falling Thursday. Meta stock suffered its biggest one-day loss since October 2022 as skepticism over its AI spending plans overshadowed strong results, while Microsoft lost 3%.
In contrast, Amazon shares jumped more than 13% in extended trading after it beat expectations and saw strong growth in its cloud-computing unit, and Netflix handed out treats to big and small investors alike as it announced a 10 for 1 stock split, making its shares more accessible to investors.
On the trade front, U.S. President Donald Trump and Chinese President Xi Jinping met in Busan for a summit which saw tariffs trimmed, soybeans purchases promised, and rare earth controls put in abeyance for a year, with some sketchy deal details — tricks up the sleeves of the two economic giants?
