Today's Top Stories
7 stories
Crypto
Binance Hit by Record $6.3 Billion Cryptocurrency Hack Linked to North Korean Cybercriminals
The world's largest crypto exchange suffered the biggest security breach in digital asset history, losing approximately $6.3 billion in client assets before freezing roughly $3 billion on-chain and suspending customer withdrawals. Blockchain intelligence firms TRM Labs and Chainalysis pointed to North Korea-linked cybercrime actors, while Binance pledged to cover the shortfall using its emergency insurance fund and restore withdrawals within 48 hours.
CNBC ↗Energy
Exxon and Chevron Post Forecast-Beating Profits as Exxon Outlines $100 Billion Capital Program
ExxonMobil and Chevron topped third-quarter earnings expectations, propelled by war-driven surges in refining margins and elevated diesel prices. Following the report, Exxon Chief Executive Darren Woods announced the supermajor plans to deploy more than $100 billion in capital expenditures through 2030 to bolster global energy supply while simultaneously raising its quarterly shareholder dividend.
Bloomberg ↗Energy
Oil Tanker Struck by Limpet Mines in the Strait of Hormuz
Security sources reported that a commercial tanker was hit by limpet mines within the strategically critical Strait of Hormuz maritime transit corridor. The incident has heightened geopolitical risk premiums across energy markets, contributing to a rally in benchmark crude prices amid fears of expanded disruption to Middle Eastern export routes.
Reuters ↗Deals
DoorDash Agrees to Acquire Grocery Delivery Platform Instacart for $17 Billion
DoorDash has reached an agreement to acquire grocery-delivery rival Instacart in a transaction valued at $17 billion. The move represents a major consolidation in the on-demand local delivery and logistics space, combining two of the sector's largest platforms to scale digital order volumes.
Bloomberg ↗
Earnings
Starbucks Posts Mixed Results as Strong U.S. Comps Offset Soft FY2027 Revenue Outlook
Starbucks reported adjusted fourth-quarter earnings per share of 80 cents, beating estimates on a 7.7% same-store sales gain in the U.S., but revenue of $9.14 billion fell short of consensus amid overseas weakness and a restructuring in China. Shares fell nearly 2% in extended trading after management projected a 1% decline in fiscal 2027 net sales, missing expectations for 1.4% growth.
CNBC ↗Central Banks
British Pound Rallies to Multi-Week High Ahead of Anticipated Bank of England Rate Hike
Sterling climbed to a six-week high against the U.S. dollar and reached a 19-month high versus the euro as currency markets positioned for an expected interest rate increase by the Bank of England. The currency's strength reflects widening yield differentials as monetary policy expectations diverge between the UK and other major economies.
WSJ ↗
Tech
Rivian Shares Jump After Q3 Loss Narrows and Automotive Gross Margins Turn Positive
Rivian shares advanced more than 5% after reporting a third-quarter adjusted loss of 48 cents per share on $2.16 billion in revenue, beating analyst projections, while achieving a positive 8% total gross profit margin. Following the release, Jefferies upgraded the electric-vehicle maker to buy, highlighting resilient R2 demand and expanding software licensing opportunities with partners such as Volkswagen.
CNBC ↗Markets at a Glance
vs. previous closeLevels as of 9:35 AM EDT. Source: Yahoo Finance; may be delayed.
The Market Today
U.S. equity markets are broadly lower as heavy losses in mega-cap technology and semiconductor shares weigh on major benchmarks, though small caps showed resilience with the Russell 2000 advancing 1.01%. The tech-heavy Nasdaq dropped 1.38% and the S&P 500 fell 1.18%, driven by mounting investor anxiety over elevated artificial intelligence spending and downbeat forecasts from bellwethers Amazon and Intel. Meanwhile, energy markets remain elevated with WTI crude up 1.81% to $103.85 amid geopolitical tensions in the Persian Gulf, and 10-year Treasury yields slipped 6 basis points to 4.93%.
Your Watchlist
vs. previous close- Alphabet (GOOGL): Shares plunged 13.62% today after technical selling triggered a "death cross," while authorities in Finland launched a criminal investigation into land clearance for a planned Google data center. Reuters
- Amazon (AMZN): Shares fell 8.72% today as quarterly reports revealed surging capital investments alongside decelerating growth in its core online retail division. Bloomberg
- Apple (AAPL): Shares edged up 0.87% today as the company's primary iPhone manufacturing partner signaled confidence in meeting high consumer demand for its newest hardware lineups. Bloomberg
- Exxon Mobil (XOM): Shares rose 1.41% today following forecast-beating third-quarter earnings, another dividend increase, and plans to invest more than $100 billion in capex through 2030. Bloomberg
- Meta (META): Shares ticked up 0.38% today even as the company suffered European legal defeats, losing appeals against French interim regulatory measures and UK online safety data mandates. Reuters
- Microsoft (MSFT): Shares slipped 1.02% today as the software giant moved to issue $25 billion in debt to fund its expanding AI infrastructure commitments. CNBC
- Nvidia (NVDA): Shares declined 3.08% today alongside wider semiconductor weakness and reports that CEO Jensen Huang was the target of a Chinese espionage operation, which Nvidia stated had been investigated and debunked. CNBC
- Tesla (TSLA): Shares dropped 2.83% today, tracked lower by pressure on Big Tech peers and renewed scrutiny of internal ties revealed in a SpaceX filing detailing compute arrangements. Barron's
Today's Calendar
Friday, October 30 · times ETEconomic data & events
Earnings
High-impact release. Earnings shown for large companies ($10B+) and your watchlist. Sources: Forex Factory, Nasdaq. Schedules can change.
Sectors & Movers
- Semiconductors & Hardware: Intel collapsed roughly 25% after forecasting current-quarter revenue of $15 billion to $16 billion (below the $17 billion consensus) and projecting a 25% to 30% sequential contraction in PC shipments, which prompted a Bank of America downgrade to neutral. Advanced Micro Devices fell in sympathy over shared PC exposure and AI server supply bottlenecks.
- Integrated Energy: ExxonMobil and Chevron gained after posting forecast-beating quarterly profits, driven by high diesel refining spreads. WTI crude gained 1.81% to trade above $103 per barrel.
- Electric Vehicles: Rivian rallied over 5% early Friday after narrowing its third-quarter loss and posting positive automotive gross margins, while lifting its full-year vehicle delivery target to a range of 67,000 to 70,000 units.
- Cryptocurrency: Bitcoin slipped 0.83% to $77,129.20 after Binance disclosed the historic $6.3 billion theft, sparking broad market concern over digital asset custodial security.
- Freight & Transport: Canadian National Railway posted higher third-quarter profits and revenues, citing robust freight demand and strong pricing power across rail segments.
Macro & Policy
- Central Banks & Currencies: The British pound strengthened against major crosses as traders priced in a near-certain interest rate hike from the Bank of England. The U.S. Dollar Index fell 0.14% to 101.90, while U.S. 10-year yields fell to 4.93%.
- Geopolitics: Maritime security risks escalated following limpet mine strikes on a tanker in the Strait of Hormuz. In parallel, geopolitical rifts over the conflicts in Ukraine and the Middle East continue to dominate the agenda at the G20 meetings in the U.S.
- Technology Regulation: European regulatory pressure increased on U.S. tech giants, with Meta failing in its legal appeal against French interim measures, while Meta, TikTok, and X simultaneously lost a court challenge regarding UK data compliance for online safety.
What to Watch
- 8:30 AM ET Labor Cost Data: Release of the U.S. Employment Cost Index quarter-over-quarter, with economists forecasting a 0.8% increase compared with 0.9% in the prior period.
- Pre-Market Energy and Pharma Earnings: Imminent quarterly reports from Chevron (consensus EPS $4.78), BP (consensus EPS $2.66), AbbVie (consensus EPS $3.74), AstraZeneca (consensus EPS $2.60), Sanofi (consensus EPS $1.63), and Regeneron Pharmaceuticals (consensus EPS $13.76).
- Defense & Industrial Earnings: General Dynamics results due before the opening bell, with Wall Street projecting EPS of $4.14.
- Binance Network Recovery: Updates from Binance management as the exchange attempts to implement security patches and resume client withdrawal operations within its estimated 48-hour window.
Sources
52 articles- CNBCStarbucks sales miss expectations, but its U.S. turnaround is gaining steam
- MarketWatchGen Z voters told us the midterms boil down to affording life, as social causes take a back seat
- BloombergEverybody’s Business: Even Your Chicken Is Candy-Flavored Now
- BloombergOil Is a Tough Trade for Now, Says Sarah Hunt
- CNBCIntel issued weaker-than-expected guidance. Analysts are losing confidence in the stock
- BloombergExxon Plans $100 Billion in Capex Through 2030, CEO Tells CNBC
- MarketWatchAMD’s stock slides after Intel earnings reveal two big issues
- CNBCRivian's stock correction allows favorable 'entry point' after Q3 earnings, Jefferies says
- MarketWatchBitcoin slides after crypto’s nightmare scenario: a historic $6.3 billion heist
- CNBCHackers steal $6.3 billion from Binance in biggest-ever cryptocurrency theft
- WSJAmazon Shrugs Off Outside Shopping Agents—and Touts Its Own
- BloombergMilan Football Clubs Unveil €2.3 Billion Stadium Plan for 2031
- WSJHow Binance Is Scrambling to Cover Losses in the Biggest Heist in Crypto History
- WSJLyondellBasell Revenue Rises; Warns of Slow Recovery in Middle East
- ReutersTrump touted a record Venezuela oil deal. Now reality is setting in - Reuters
- WSJChinese Executive Close to Nvidia CEO Suspected of Giving China Information
- WSJThe Extra-Strength Funds That Are Too Much of a Good Thing
- WSJTech, Media & Telecom Roundup: Market Talk
- WSJCanadian National Railway’s Profit Rises as Freight Demand Lifts Revenue
- ReutersNasdaq set for sharp drop as Amazon, Intel amplify AI spending worries - Reuters
- Financial TimesPartners plans to halve withdrawal limits on strained private equity fund
- Financial TimesDid Anthropic value itself at $1.2tn in August?
- MarketWatchThis one chart tells you everything you need to know about Exxon, Chevron and BP’s forecast-beating earnings
- WSJSterling Jumps Ahead of BOE Decision as Rate-Rise Looks Done Deal
- ReutersTanker in Strait of Hormuz hit by limpet mines, security sources say - Reuters
- Financial TimesEurope’s EV transition accelerates
- ReutersRifts over wars in Ukraine, Middle East loom over G20 meeting in US - Reuters
- Financial TimesGlobal tech sell-off deepens as US earnings stoke AI spending fears
- BloombergApple’s iPhone Maker Confident of Meeting Surge in Duo Demand
- CNBCFinal Trade: RSP, URI, AAPL, AMZN
- The New York TimesI Tried Apple’s First Touchscreen MacBook. Touch Is Nice, but the Screen Is the Real Star.
- CNBCMicrosoft plans to raise $25 billion in debt as it pursues AI buildout
- CNBCJim Cramer says Microsoft is winning the AI spending battle — and Alphabet is paying the price
- CNBCJim Cramer: Why investors are punishing Alphabet and giving Microsoft a pass
- CNBCNvidia responds to report Jensen Huang was target of Chinese asset, says diversion allegations were 'investigated and debunked'
- The New York TimesNvidia Chief, Jensen Huang, Is Seen as Target of Chinese Spy Plot
- WSJAudi Announces Its First U.S. Factory; Nvidia, Micron Drive Earnings Boom
- Barron'sAmazon and Intel Tank the AI Trade. The One Factor Linking Big Tech’s Underwhelming Earnings.
- MarketWatchAmazon’s and Intel’s stocks are set to plunge. But Wall Street’s October winners may surprise you.
- BloombergAmazon Spending Soars Amid Slowing Growth of Online Business
- ReutersFinland launches criminal probe into land clearance for Google data centre
- MarketWatchAlphabet’s stock just triggered a ‘death cross.’ Could the worst of the selloff be over?
- CNBCReddit shares sink on weak sales guidance and plans login requirement test as Google search traffic shrinks
- ReutersMeta loses appeals against interim measures imposed by French regulators
- MarketWatchMETA Stock Price | Meta Platforms Inc. Stock Quote (U.S.: Nasdaq)
- ReutersMeta, TikTok, X lose legal challenge against UK watchdog over online safety data demands
- BloombergMusk’s Favorite Ticker Is Free for Taking in a SpaceX-Tesla Deal
- Barron'sTesla Stock Gets Dragged Down by Alphabet’s Misery
- Barron'sHidden Gems in the SpaceX Filing: Soaring Compute Rates and Deep Tesla Ties
- CNBCChevron and Exxon beat earnings expectations as refining profits soar on high diesel fuel prices
- ReutersExxon, Chevron earnings propelled by war-driven refining surge
- Barron'sExxon Raises Its Dividend Yet Again as Oil-Price Rally Boosts Earnings
This brief was written by AI (Google Gemini) from the articles listed above and may contain errors. It is for information only and is not investment advice. Check the original reporting before making decisions.