📞The Fed had Spoken☎️

Bond purchases will reduce this month, and the FOMC reaffirming that inflation is transitory. The good news is the pushing back on call that interest rate will rise sooner, which boosts the market.

Investors liked the dovish statement as indices continued to hit new highs. Accordingly, the plan is to reduce the purchase of Treasury by $10 billion and $5 billion for mortgage-backed securities per month. At this pace, we are likely to see the tapering ends off around July 2022.

💡Earnings estimates are back to Awesome💵

As the earnings season continues, analysts have been optimistic. The increase in profit forecast had provided the stock market with more fuel to run. In fact, according to some data, we have seen 54% of the revision in analysts’ estimates for 2021 or 2022 as upward revisions.

Much of this could be pointed to easing the supply constraint, and the upward cost input pressure might moderate. This could better protect businesses’ profit margins and result in a brighter outlook.

Pika World is eyeing supply constraints hitting their peak, and an inflection point in inflation could be on the horizon.

📱Qualcomm: Making a Comeback⌚️

Stocks performed better after the mobile phone chips provider posted an excellent result. The strong guidance also gives investors a boost in confidence. Revenue of $9.26 billion Is above the guidance provided previously and ahead of Wall Street’s estimate.

The company is confident in continuing to lead in mobile and technology that enabled the digital transformation of industries. Pika World has only a little exposure to the counter, and we are on the sideline.

🎞Matterport: A playbook Counter🔦

Shares took a heat due to mixed earnings results. We have updated members to take off some chips on the counter as the stock is often volatile on earnings. Nevertheless, the company transformed the built world in digital form and continued to interest us.

Subscriber counts remain strong at 439,000, and their product launches appear relevant to the industry needs. As a result, Pika World maintains long-term exposure to the counter.

🎉Zillow: Yes, Cathie Wood loves it💈

As shares dived, Ark Invest is scooping up more shares of the online real estate firm. On its daily report, it appears that Ark Invest had purchased about 288,813 shares. Indeed, the hot housing market, which caused significant volatility in housing markets, had dampened Zillow’s ability to forecast prices better.

With the latest move, the company is well on track to become a more asset-light, which is both a concern and joy to investors. For one, investors are less sure of the company’s future direction.

Pika World is willing to dive into minor exposure as we remain nimble on the changing macro environment.

📮What’s on the Menu Today?

At 8.30 pm, we will receive the Initial Jobless Claims, which we expect to moderate slightly to 275K from 281K in the prior period.

It is 4 Nov, Thursday, at 7.22 am in Singapore and 7.22 pm in New York. With the FOMC meeting ended, the market has more uncertainty, and we hope all Pika World friends have a moonatic week!