Starbucks beats ☕ Stocks lower 📉 US Nonfarm Payroll 👀 EURUSD 💷 Earnings: Alibaba, Lamar, DraftKings

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The Big Story [shutterstock_1072863746] American multinational coffee chain Starbucks rose 2.4% after it reported quarterly earnings and revenue that exceeded estimates, fueled by US customers spending more on their orders. Nonetheless, Starbucks' worldwide success continued to be hampered by Covid-19 limitations in China. [Start Trading](113/cXx8Z04/VWX5d_2Rg5MlW1SNLsT2WJ1XgVDyhz94RZkBhN5BW0Rp2-MK5V1-WJV7CgDXLW1Yf3Gt6QLWJNW1MWZnJ7b-nF_W2qXFTW1_F-FcW4hK6CQ3xl6yvW1_1J7k4_nfHKN2vtsTftLpqMN6J8WyPG0TksW4KKP833ZNJW9N6h1FKTjSWNDW2fpWf22_spd7W8qNyH866R_klW18Zrl41WDMM9W5vFVmx8sr-GbW4yq0b23j36C8W6VKt5J66fMR5W7nsDtR7y9VPDW7ZhQ8b7Zrjj-V3qGkX81Js6rW3DbVt649lfPFW4G4LVr7tPLT43nj41) Trader's Corner In focus • Traders will receive what may be the most crucial indicator of the state of the US job market. The unemployment rate is projected to tick higher to 3.6%, matching the pre-pandemic rate of February 2020. • Hershey (HSY) one of the largest chocolate manufacturers is reporting earnings and analysts are optimistic about its performance. The stock is seeing favorable earnings estimates revisions, a precursor to earnings beat. The stock is up 23% year-to-date. • Lastly, EURUSD could show additional volatility during the speech of European Central Bank Chair Christine Lagarde later in the day. Economic data • US Nonfarm Payrolls, hourly earnings, participation rate, unemployment rate • EU PPI, PMI, Lagarde's speech • Germany PMIs, Factory orders • UK Contruction PMI Earnings • Hershey, Alibaba • Duke Energy, Enbridge • Lamar, DraftKings Crypto • Bitcoin is showing strength and resilience to the tech selloff and stronger dollar, holding above its technical support level of USD20'000. • US crypto exchange Coinbase missed third-quarter revenue posted a larger-than-expected loss, but popped in extended trading after it announced user counts that exceeded expectations. [Screenshot 2022-11-04 at 06.42.18] [Start Trading](113/cXx8Z04/VWX5d_2Rg5MlW1SNLsT2WJ1XgVDyhz94RZkBhN5BW0Rp2-MK5V1-WJV7CgWCmN89VW9JM2D3MW2g3p014vqp9nW8fxfGx3BYx9fW6QDHFq2QFLPkW4nNptW3_3dR3W5bZY3c5qJdyfW94gB298Ny2JXW6klCRL1_xpCRW6XjlWz28l-rGW6dgzMB1hvvzVW2kMBp0708VYKW85j16f2mQp9TW7bNj3F8nzN_NW6RqSj86vkgGTW8VLf6p8DPNzzW24DD8v1MjcStN6pL9FRPnsDxW6YWMHz5KGJ3jW5P23rK8-hcC3W9klgR55dKn6p3n601) Market Recap Stocks extended Wednesday’s sell-off, coming under pressure on expectations for higher interest rates. Big tech stocks, led by Apple (-4.2%) and Qualcomm (-7%) were the worst performers. Meanwhile, US dollar advanced on back of higher US yields. European stocks fell despite the Bank of England delivering slightly more accommodative comments. The worsening global growth outlook and strong dollar continued to weigh on investor sentiment. This morning, global stocks are heading higher thanks to a rebound in Chinese tech stocks, as investors speculate on the possibility of Beijing rolling back its Covid-Zero policy. Oil prices (WTI) are up 2% are dollar gauge is slightly lower. Chart Of The Day The dollar seems to have regained its momentum after the Fed unanimously increased the federal funds target range by 75 bps to 4% and hinted to further rate hikes to eventually reach the 2% inflation target. [eurusd-1](113/cXx8Z04/VWX5d_2Rg5MlW1SNLsT2WJ1XgVDyhz94RZkBhN5BW0R52-MJQV1-WJV7CgClgW4MgBWn6wyM6vW7h1XdR17_dsCVTr5Hz2Lx6z7VT12zm4FcMwvW7hw_L07HpZ0nW4dRZY14R3p--W3Njq1Q4PkqD1Vb_R2N4NStm6W1CkFyw4T0H38W8C2DNQ17n8TNW2FRHgG22wstxW65N02B8V9WM4N3_fPqhh7P8HN2VvPYZtDx3YV6ZjQR2SqYkhW7-9D2q5yqKj8W1yxwWg5Z-pWxW62LdD97rkYyK35971) FlowBank Blog Big Tech: What do Q3 earnings reveal? [Big tech-1](113/cXx8Z04/VWX5d_2Rg5MlW1SNLsT2WJ1XgVDyhz94RZkBhN5BW0R52-MJQV1-WJV7CgPYcW5Dm1RF4LVK8jW84zSx_5s9tN7W7rY5Zk5l9cvtW2gdbtT4w2tV_W7z_q-S1Wr6lmW8nDt4_2YFsqzW3bF1DD7c6676W4F9XG42RdLCfV4DNbQ4McdnMN18ZfQGPRBNNW2Z6M_n7r2VNLW2rx5hX8D-6JyW6VZbr83_RblzN8Sxzk4G0_MZW1xmTwt8-KdJnV7p5-k8B4t4jW1xl0XW5ghjLqW8BpXpp5mxgJc33XJ1) US earnings have overall been strong and resilient so far. But the same cannot be said about Big Tech. And, a lot of attention should be given to Apple, Microsoft, Amazon, and Alphabet, given their combined weight of almost 20% in the S&P 500. 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