Apple beats 📱US PCE 👀 Nasdaq ☔ EURUSD 💶 Earnings: Exxon Mobil Volkswagen 🚗

FlowBank's hand-curated fresh financial news [View in browser](113/cXx8Z04/MWDW46S6brFW4jksC24RYyB5W2z6fd_4RHdFgN6wcHq14ZjchV3Zsc37CgQ3XW6dq-0l3F97QJW6plFGg5W6Tl0W28CNyP2ypyl4W87QpNx7nWQ93N6TTNPkB7W7wV3BXC-4CJSy9W73Z3Zb2jRj3fN5W-PKbjm1pLW5SgT7H94gkdDW7lVtB65gw7H1W8wk95B6H-0cBW71163V465x5QVg195Y15-fhyMvYd4x9NckzW7Ldf0K79J3t6V2-QHp7qZmQXW1nLXqD3ZQZ46W1ByqJX6_VrlSW6Wlbxj15PPV1W1TGgZP1Xy5CpVDdt9P19-JYDW6q_mWH8-YdFDW415FsX3QS7RrW8HZZNS2FShX_N8YVnnqpZHzPW62Lp9W4Pw7DNF62H_P61G5FW6dwFCJ57H-g0W4-FRrR79PhccW3m76K31ymcmfW8fPJ_H64FCJ1W4n3g4G8hv9gdW2NWP8G98dB_QN408khS-HmhlW8Xzms22F78ltW5wtNzk8ZW0MB2lB1) [header_noDither] 28.10.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_124105921] Apple's fourth-quarter revenue and earnings beat expectations. However, the iPhone maker fell short of revenue expectations in core product categories such as the iPhone business and services, owing primarily to foreign exchange headwinds. Share prices initially fell, but quickly recovered. Amazon too tumbled in late trading after the company reported weaker-than-expected results from its AWS cloud unit and a disappointing forecast for its fourth quarter. [Start Trading](113/cXx8Z04/MWDW46S6brFW4jksC24RYyB5W2z6fd_4RHdFgN6wcHq12-MK5V1-WJV7CgQmbW8j_BLf6Z3nC6W3VyVjF4TRHKrW2KWckP810pXPW8vlGP991B-VrW3BgyTK1Rh9R_W5XG0Lc2VRxLXW2y9XMM9bCwsKF1zDqrkngSdW6pJplf5GWbZpW8CfNdK8-cJccW4BKLkf1zLVZ4N81BQnTWmvtFW1jDqdP7h0RHXW3VHVgG8dh4SGW9lY5nT2XGdXlW3zQ8xD4q2tPPN1FvTKLdjb24N8cX-vWQd2SnVN4C7g5FNsRpW9fRN1D28sj5L36VK1) Trader's Corner In focus • The core personal consumption expenditure index, the preferred inflation gauge of the Fed, will be released today. A slowdown in inflation is being closely watched for any indications in the most recent economic data. • Following the release of Apple and Amazon's earnings, attention will turn to stock indices. After-hours trading saw an additional 1% decline in Nasdaq futures. • Lastly, traders will continue to pay close attention to the EURUSD. After ECB Lagarde's remarks, the euro was under pressure. However, the EUR maintains its upward momentum, with 0.9925 serving as a crucial technical support level. Economic data • US PCE price index, personal spending and income, Michigan 5-year inflation expectations • EU business and consumer survey, business climate • German CPI, GDP • BoJ interest rate decision Earnings • Exxon Mobil, Chevron, Sanofi • AbbVie, Sony, • Volkswagen, Airbus, Air France • Glencore Crypto • Bitcoin is holding on to most of its gains and to its breakout above USD20'000, despite sentiment for tech stocks having deteriorated. • Phil Spencer, Microsoft’s gaming CEO, made comments that the future of work in the metaverse will look 'more like video games'. [Screenshot 2022-10-28 at 06.54.44] [Start Trading](113/cXx8Z04/MWDW46S6brFW4jksC24RYyB5W2z6fd_4RHdFgN6wcHq12-MK5V1-WJV7CgNLvW97SCk_7pdtKZW4mM0dr2Qt2qRW2kRkNr1k4W1yW6wzGQB3Xq36VW7QMtr17yqyNMW7fR8K620D7JTW3WKGsF3ZCzYQW1f8l635ZM9DbW39sM2G5mBb1fVK5BtF5d6WkhW6F53W05v-H1LVMHryL7CtZ4LW2Yx09_10Chr6W3Qqy3s6Y3ghrW42G84p2lZybGN5ZPWVz4B0dsN1wl2t2_YY1FW5v9T9S74LRqnW4p886s8mDPmyW7137KR4kY2kD3lh21) Market Recap The S&P500 slid. Roughly 70% of stocks within the benchmark index gained ground, but slides in several big technology stocks more than offset hose gains. Meta plummeted 24% after reporting a second straight quarter of revenue decline. Meanwhile, construction equipment maker Caterpillar jumped 8.2% after beating estimates. The European Central Bank raised rates by 75bp as was predicted in line with estimates. But the euro declines as the accompanying commentary implied they may slow down the pace of tightening moving forward. And oil price advanced following stronger US GDP print. Following Amazon's significant decline (-11%), the mood is still negative this morning, as seen by S&P500 futures, down 0.5%. And Exxon Mobil and Chevron, two of the biggest names in the oil industry, will release their earnings results before the opening bell. Chart Of The Day The European Central Bank raised interest rates by 75 bps as expected, moving its benchmark rate to 1.50%. [EURUSD 27.10.2022](113/cXx8Z04/MWDW46S6brFW4jksC24RYyB5W2z6fd_4RHdFgN6wcHpL2-MJQV1-WJV7CgCRxW4RvWqL6ffy8wV_Rpnd7mW8QGW7WlgcZ6K9J4VW80SHl02mX0Z-W60sSSS4FFYk0W1FTqw52zTlRSW142vHC6vRXbYW1qy73y1x-TdsMbSJRpnmDkZW9jg3_r5Fb7TfTtVbG4WBplQW7mrFyF5PpNJLW93jf873tHmHdW6BLs-G8tByVzW2kb0hb60dYk5W1FBHbW1yp6wgW2ttlbh14ZbgBW4TBxVm5MFrny3gSP1) FlowBank Blog Ethereum Staking Yields [shutterstock_1912570657](113/cXx8Z04/MWDW46S6brFW4jksC24RYyB5W2z6fd_4RHdFgN6wcHpL2-MJQV1-WJV7CgR3dW5_xBm-5db3YZW3t7gDX344RwzW5bhFV14xfSCrW8G1hx62LrL6kW2jT0PS77HszsN2vttKt1ssLlW2QGpf34Mf3LcW1zXX9V6F_6HPW8kB34h8c_1V2W2HdsCS4Vpcy2N8sblJGFr_fkW9h0RGR4nLfymMF4__cpYYzCW5bNtGS5dH7NbV9rpcp5f2WsLW7sndL65Cv2rlW5MZFHB2rYB61W9jZX5336NTZH37KW1) On September 15th, Ethereum transitioned from a Proof of Work (PoW) network to a Proof of Stake (PoS). In this report, we will be discussing how this change affects the reward system and what annual percentage rate (APR) stakers can expect. 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