TLDR

MARKET RECAP → Stocks climbed on Thursday, driven by gains in semiconductor stocks, while strong economic data helped ease lingering fears of a potential recession.

RETAIL SALES GROWTH OUTPACES EXPECTATIONS → 📈 Retail sales jumped 0.4% in September, beating expectations, while jobless claims dipped, signaling a resilient economy. Consumers kept spending, and the labor market held strong despite recent storms.

UK REGULATOR WARNS TECH GIANTS → ⚖️ Ofcom warned tech giants of hefty fines—up to 10% of global revenue—if they don’t comply with the U.K.'s Online Safety Act. Starting in December, platforms must combat illegal content and improve child protections, with harsher penalties for repeat offenders.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Retail Sales Growth Outpaces Expecations

📈 Retail Sales Surge: U.S. retail sales grew 0.4% in September, beating forecasts and showing resilient consumer spending, with clothing stores and restaurants seeing notable gains.

💼 Jobless Claims Drop: Initial unemployment claims fell to 241,000, lower than expected, signaling continued strength in the labor market despite recent hurricanes.

💵 Market Reaction: The reports led to higher stock market futures and rising Treasury yields, with consumers continuing to drive economic activity despite inflation concerns.

TODAY’S TOP NEWS

UK Regulator Warns Tech Giants

⚠️ Big Fines Coming: Ofcom warned that tech companies could face fines of up to 10% of global revenue if they don’t comply with the U.K.'s new Online Safety Act starting December.

👩‍💻 Safer Online Experience: The Act will require tech giants to combat illegal content and improve protections for children, with platforms like OnlyFans and Twitch already implementing changes.

📅 2025 Milestones: Ofcom will roll out further regulations in 2025, with possible service suspensions or jail time for repeat offenders.

BULL VS. BEAR

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WHAT WE’RE WATCHING

OUR FAVORITE TOOLS & RESOURCES

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• Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine

• The Market Ear — Live news, analysis and commentary on what moves markets and trading

• Coinmarketcap.com — Crypto market data

• Finviz — Financial visualizations

• Trading Economics — Economic calendar

• CME FedWatch Tool — Market-implied probabilities of future levels of interest rates 

• Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett

• ChatGPT — Large language model-based chatbot powered by generative AI

• Vimcal — Lightning-fast calendar and AI scheduling assistant

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