Morning Brief Fed decision, Lyft earnings, Qualcomm and Arm
Nov 7, 2024
52:53
US stocks are still humming to a positive tune following Donald Trump's 2024 re-election earlier this week. Next on the market's docket is the Federal Reserve's latest interest rate decision to come at the conclusion of the central bank's November policy meeting later today.
Takeaways:
- US stock futures (ES=F, NQ=F, YM=F) maintain their record highs post-election as the Federal Reserve is set to announce its interest rate decision for November later today.
- Shares of rideshare platform Lyft (LYFT) continue to soar higher in pre-market trading around its fourth quarter outlook.
- Chipmaker Qualcomm (QCOM) is seeing stock gains following a strong fiscal fourth quarter earnings report while announcing a $15 billion share buyback program. Arm Holdings (ARM) stock, on the other hand, is slipping on its fiscal third quarter outlook despite topping second quarter estimates.
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