Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
As Halloween looms, Wall Street is balancing 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%.
But it was not all doom and gloom. Amazon shares jumped more than 13% in extended trading after it beat expectations and saw strong growth in its cloud-computing unit. 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 that saw tariffs trimmed, soybean 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?
