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Monday, November 3

Noteworthy macro moves today: Ethereum -4.7%. Bitcoin -2.4%. Nasdaq 100 Index (US) +0.8%. Noteworthy US mega-cap moves today: NVIDIA Corp (NVDA) +2.2%. Berkshire Hathaway Inc (BRK.B) +0.8%. 

US equity markets are trading higher as investors anticipate key economic data releases, particularly the ISM Manufacturing PMI and S&P Global Manufacturing PMI scheduled for later today. These reports will provide insights into business sentiment amid ongoing concerns about a government shutdown that has delayed other significant economic indicators.

The Federal Reserve's recent monetary policy discussions continue to influence market dynamics, with officials expressing caution regarding interest rate cuts due to persistent inflationary pressures. Fed Governor Miran highlighted potential risks associated with maintaining restrictive policies too long, suggesting this could lead to an increased likelihood of recession if not adjusted appropriately.

Additionally, developments in US-China trade relations have contributed positively to market sentiment following agreements on reduced tariffs and eased export restrictions from China on rare earth materials. This backdrop supports broader risk appetite across global equities while also impacting commodity prices like gold, which is facing pressure amidst stronger dollar performance driven by these macroeconomic factors.

Bitcoin (BTC/USD) [-2.4%]
Bitcoin (BTC/USD) has declined significantly, moving down 2.4% since Sunday. The Federal Reserve's hawkish stance has bolstered the US Dollar, impacting global markets and diminishing risk appetite, which is contributing to the selling pressure on Bitcoin. Additionally, geopolitical tensions regarding trade restrictions with China are negatively influencing the cryptocurrency market. Social media highlights include a trader known as 0xc2a3 reporting $21.7 million in unrealized losses across various digital currencies, including BTC. Furthermore, posts indicate that over $8 billion in Bitcoin shorts could be liquidated if BTC exceeds $117K. Ethereum (ETH/USD) has also dropped significantly by 5.04%, reflecting broader market sentiment that may be affecting Bitcoin’s price movement. Frequent sell-offs of BTC are reported to be adversely impacting altcoins, advising caution against long positions until Bitcoin shows bullish signals.

iShares 20+ Year Treasury Bond ETF (TLT) [-0.7%]
The iShares 20+ Year Treasury Bond ETF (TLT) has experienced a decline of 0.7% since Friday. Social media discussions on November 1st highlighted a bearish reversal on TLT's weekly chart, emphasizing the need to maintain levels above the 20-week moving average to avoid a potential drop into the low 80s. Additionally, a former ETF head at Goldman Sachs noted a supportive interest rate backdrop for bonds, while another post suggested that TLT's price range of 89-88 is viewed as an attractive long-term investment opportunity, referencing prior lows of 85-86. Furthermore, TLT went ex-dividend with a distribution of $0.325125 per share. The iShares TIPS Bond ETF (TIP) has also seen a slight decrease, reflecting broader market sentiment impacting long-duration bonds like TLT.

IREN | +21.0% | +2.3B
Iris Energy Ltd | Application Software
Iris Energy Ltd has announced a significant multi-year contract with Microsoft valued at approximately 9.7 billion for AI cloud services, which involves providing NVIDIA GB300 GPUs over five years with a 20% prepayment. To support this initiative, Iris Energy will acquire GPUs and related equipment from Dell Technologies for around 5.8 billion, with deployment occurring in phases through 2026 at its 750MW facility in Childress, Texas. This partnership positions Iris Energy as a key player in the AI cloud services sector. Social media discussions have highlighted the importance of this deal, noting it as one of the best arrangements among peers without equity dilution or warrant concessions. Concurrently, Iris Energy is expected to announce its Q1 FY2026 earnings on November 6, 2025, with an EPS estimate of 0.15 and a revenue estimate of 236.8 million. Following these announcements, Iris Energy's stock price has increased significantly since Friday.

KMB | -14.2% | -4.9B
Kimberly-Clark Corp | Household Products
Kimberly-Clark Corporation has announced its plan to acquire Kenvue Inc. in a cash and stock transaction valued at approximately $48.7 billion. Under the terms of the agreement, Kenvue shareholders will receive $3.50 in cash and 0.14625 Kimberly-Clark shares for each Kenvue share, totaling $21.01 per share based on Kimberly-Clark's closing stock price on October 31, 2025. The transaction is projected to generate around $32 billion in annual net revenues and $7 billion in adjusted EBITDA, with anticipated run-rate synergies estimated at $2.1 billion. Following the announcement, Kimberly-Clark shares have experienced a significant decline, trading lower by approximately 12.65%. Social media reactions have been predominantly negative, with users expressing skepticism regarding potential liabilities associated with Tylenol and autism claims.

DD | -57.5% | -8.3B
Dupont De Nemours Inc | Specialty Chemicals
Dupont De Nemours Inc. has recently announced the successful separation of its electronics business, Qnity Electronics, which became an independent public company on November 1, 2025. Qnity began trading on the New York Stock Exchange under the ticker symbol "Q" on November 3, 2025. Shareholders of DuPont received one share of Qnity common stock for every two shares of DuPont held as of October 22, 2025, totaling approximately 209 million shares distributed. This strategic move is intended to allow DuPont to concentrate on key markets such as healthcare, water, construction, and transportation. Additionally, the company is set to announce its Q3 FY2025 earnings before market open on November 6, 2025, with an EPS estimate of $1.08 and a revenue estimate of $2.9 billion.

IDXX | +7.3% | +4.1B
IDEXX Laboratories Inc | Health Care Equipment
IDEXX Laboratories Inc reported better-than-expected Q3 results, which contributed to a significant increase in its share price. The company announced earnings of 3.40 per share, exceeding the analyst consensus estimate of 3.13 and reflecting a year-over-year increase of 15.41%. Revenue for the quarter reached 1.11 billion, surpassing expectations of 1.07 billion and showing a year-over-year growth of 13%. Following this performance, IDEXX raised its full-year profit guidance to a range of 12.81 to 13.01 per share, up from the previous range of 12.40 to 12.76. Additionally, revenue guidance for FY2025 was increased to between 4.27 billion and 4.30 billion, compared to the prior estimate of 4.205 billion to 4.280 billion.

PLTR | +2.5% | +11.5B
Palantir Technologies Inc | Application Software
Palantir Technologies Inc has seen its stock price increase by 2.5% since Friday. Analyst Dan Ives from Wedbush has raised the price target for Palantir to 230 from 200, maintaining an Outperform rating. The company is set to release its Q3 earnings report today, with expectations of earnings at 15 cents per share and revenue of approximately 1.09 billion, reflecting a 50% year-over-year increase. Social media discussions highlight a consensus EPS estimate of 0.17, along with anticipation surrounding CEO Alex Karp's potential use of the term "Lethal" during the earnings call. The Nasdaq 100 Index has also moved up by 0.75%, which may correlate with Palantir's recent price movement. Notably, Palantir's U.S. commercial business is reported as its fastest-growing segment, bolstered by demand for its AI Platform.

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