Breakfast News: Election Week

Fed meeting, earnings continue, Berkshire’s cash, and more… ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     [Breakfast News] Did a friend forward you this message? [Sign up here](~/AAQRxQA~/RgRpC0O-P0TLaHR0cHM6Ly93d3cuZm9vbC5jb20vbW1zL21hcmsvZS1zYS1icmVha2Zhc3QtbmV3cz9saWQ9aXhjaXRjdW5oY3BmJnU9MjAzODc5NTAyMiZzb3VyY2U9Jm1haWxpbmdfaWQ9ZjI2MzllZDctYWZjMy00MzI0LWFlYjktMGNmODk3OGFlZDY5Jm1haWxpbmdfbmFtZT1WYXJpYW50IDEmdXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWJuJnV0bV9jYW1wYWlnbj1XA3NwY0IKZxK-vihn4o0-qlIbdHJpc3RyYW1iYWxkd2luODdAZ21haWwuY29tWAQAAAH5) so you get them all! NOVEMBER 4, 2024 Friday's Markets S&P 500 5,729 (+0.41%)   Nasdaq 18,240 (+0.8%) Dow 42,052 (+0.69%)   Bitcoin 69,410 (-0.74%) [Illustration people gathered around a store window watching election coverage on a TV inside.] 1. Down to the Wire Election uncertainty is dominating the headlines. The S&P 500 fell 1.4% on the week, with the Nasdaq down 1.5%. - Calmer markets than usual: Ryan Detrick at Carson Group found we’ve just had the second-least volatile October in an election year for the S&P 500 in the past 50 years. - “I think the market would do fine with Harris. I think the market would do fine with Trump”: Speaking to Yahoo, Eric Wallerstein of Yardeni Research doesn’t believe “the stock market is really pricing any presidential odds.” 2. Wednesday’s Earnings MercadoLibre ([NASDAQ:MELI](~/AAQRxQA~/RgRpC0O-P0TBaHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbmFzZGFxL21lbGkvP2xpZD0yb2lnNG9mMjl2NnkmdT0yMDM4Nzk1MDIyJnNvdXJjZT0mbWFpbGluZ19pZD1mMjYzOWVkNy1hZmMzLTQzMjQtYWViOS0wY2Y4OTc4YWVkNjkmbWFpbGluZ19uYW1lPVZhcmlhbnQgMSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9Ym4mdXRtX2NhbXBhaWduPVcDc3BjQgpnEr6-KGfijT6qUht0cmlzdHJhbWJhbGR3aW44N0BnbWFpbC5jb21YBAAAAfk~)) adds to this week’s flood of earnings, with a Q3 update on Wednesday. The Latin America e-commerce operator beat Q2 estimates, with forecasts suggesting earnings per share (EPS) of $11.27 this time for a 57% year-over-year rise. - Up 273% in 5 years: Customer relationship management platform HubSpot ([NYSE:HUBS](~/AAQRxQA~/RgRpC0O-P0S_aHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbnlzZS9odWJzLz9saWQ9YmRpbXIyeHc1ZDQ2JnU9MjAzODc5NTAyMiZzb3VyY2U9Jm1haWxpbmdfaWQ9ZjI2MzllZDctYWZjMy00MzI0LWFlYjktMGNmODk3OGFlZDY5Jm1haWxpbmdfbmFtZT1WYXJpYW50IDEmdXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWJuJnV0bV9jYW1wYWlnbj1XA3NwY0IKZxK-vihn4o0-qlIbdHJpc3RyYW1iYWxkd2luODdAZ21haWwuY29tWAQAAAH5)) is due to report on the same day, after posting a revenue surge last time. - Looking good: One of the world’s leading fitness-oriented energy drink brands, Celsius Holdings ([NASDAQ:CELH](~/AAQRxQA~/RgRpC0O-P0TBaHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbmFzZGFxL2NlbGgvP2xpZD1teXg5cWVyeDNrZWwmdT0yMDM4Nzk1MDIyJnNvdXJjZT0mbWFpbGluZ19pZD1mMjYzOWVkNy1hZmMzLTQzMjQtYWViOS0wY2Y4OTc4YWVkNjkmbWFpbGluZ19uYW1lPVZhcmlhbnQgMSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9Ym4mdXRtX2NhbXBhaWduPVcDc3BjQgpnEr6-KGfijT6qUht0cmlzdHJhbWJhbGR3aW44N0BnbWFpbC5jb21YBAAAAfk~)), also posts, as does e.l.f. Beauty ([NYSE:ELF](~/AAQRxQA~/RgRpC0O-P0S-aHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbnlzZS9lbGYvP2xpZD03azNsMm5zdXoxZmomdT0yMDM4Nzk1MDIyJnNvdXJjZT0mbWFpbGluZ19pZD1mMjYzOWVkNy1hZmMzLTQzMjQtYWViOS0wY2Y4OTc4YWVkNjkmbWFpbGluZ19uYW1lPVZhcmlhbnQgMSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9Ym4mdXRtX2NhbXBhaWduPVcDc3BjQgpnEr6-KGfijT6qUht0cmlzdHJhbWJhbGR3aW44N0BnbWFpbC5jb21YBAAAAfk~)): Shareholders will be looking for updates on its international expansion. 3. More Companies Reporting on Thursday As well as the latest Stock Advisor recommendation on Thursday, we'll have a Q3 update from Airbnb ([NASDAQ:ABNB](~/AAQRxQA~/RgRpC0O-P0TBaHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbmFzZGFxL2FibmIvP2xpZD10bjh2cTk5czE0MmQmdT0yMDM4Nzk1MDIyJnNvdXJjZT0mbWFpbGluZ19pZD1mMjYzOWVkNy1hZmMzLTQzMjQtYWViOS0wY2Y4OTc4YWVkNjkmbWFpbGluZ19uYW1lPVZhcmlhbnQgMSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9Ym4mdXRtX2NhbXBhaWduPVcDc3BjQgpnEr6-KGfijT6qUht0cmlzdHJhbWJhbGR3aW44N0BnbWFpbC5jb21YBAAAAfk~)). The company posted strong Q2 revenue growth, but EPS missed estimates. - Tech updates: Cloud-based tech stocks Datadog ([NASDAQ:DDOG](~/AAQRxQA~/RgRpC0O-P0TBaHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbmFzZGFxL2Rkb2cvP2xpZD01aTdiczBndGlzYWMmdT0yMDM4Nzk1MDIyJnNvdXJjZT0mbWFpbGluZ19pZD1mMjYzOWVkNy1hZmMzLTQzMjQtYWViOS0wY2Y4OTc4YWVkNjkmbWFpbGluZ19uYW1lPVZhcmlhbnQgMSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9Ym4mdXRtX2NhbXBhaWduPVcDc3BjQgpnEr6-KGfijT6qUht0cmlzdHJhbWJhbGR3aW44N0BnbWFpbC5jb21YBAAAAfk~)) and Arista Networks ([NYSE:ANET](~/AAQRxQA~/RgRpC0O-P0S_aHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbnlzZS9hbmV0Lz9saWQ9MWdxeHU4bmRwZG00JnU9MjAzODc5NTAyMiZzb3VyY2U9Jm1haWxpbmdfaWQ9ZjI2MzllZDctYWZjMy00MzI0LWFlYjktMGNmODk3OGFlZDY5Jm1haWxpbmdfbmFtZT1WYXJpYW50IDEmdXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPWJuJnV0bV9jYW1wYWlnbj1XA3NwY0IKZxK-vihn4o0-qlIbdHJpc3RyYW1iYWxkd2luODdAZ21haWwuY29tWAQAAAH5)) will also report. Both have been beating estimates this year. - More clouds: AI-based lending platform Upstart’s ([NASDAQ:UPST](~/AAQRxQA~/RgRpC0O-P0TBaHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbmFzZGFxL3Vwc3QvP2xpZD16M3RueXVnbDFmbWgmdT0yMDM4Nzk1MDIyJnNvdXJjZT0mbWFpbGluZ19pZD1mMjYzOWVkNy1hZmMzLTQzMjQtYWViOS0wY2Y4OTc4YWVkNjkmbWFpbGluZ19uYW1lPVZhcmlhbnQgMSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9Ym4mdXRtX2NhbXBhaWduPVcDc3BjQgpnEr6-KGfijT6qUht0cmlzdHJhbWJhbGR3aW44N0BnbWFpbC5jb21YBAAAAfk~)) update should provide more on its deal with Blue Owl ([NYSE:OWL](~/AAQRxQA~/RgRpC0O-P0S-aHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbnlzZS9vd2wvP2xpZD1pc2YxaWZ1c3k5bTEmdT0yMDM4Nzk1MDIyJnNvdXJjZT0mbWFpbGluZ19pZD1mMjYzOWVkNy1hZmMzLTQzMjQtYWViOS0wY2Y4OTc4YWVkNjkmbWFpbGluZ19uYW1lPVZhcmlhbnQgMSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9Ym4mdXRtX2NhbXBhaWduPVcDc3BjQgpnEr6-KGfijT6qUht0cmlzdHJhbWJhbGR3aW44N0BnbWFpbC5jb21YBAAAAfk~)). Cloud-based advertising platform The Trade Desk ([NASDAQ:TTD](~/AAQRxQA~/RgRpC0O-P0TAaHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbmFzZGFxL3R0ZC8_bGlkPWt4YjVnMXVxcXR6diZ1PTIwMzg3OTUwMjImc291cmNlPSZtYWlsaW5nX2lkPWYyNjM5ZWQ3LWFmYzMtNDMyNC1hZWI5LTBjZjg5NzhhZWQ2OSZtYWlsaW5nX25hbWU9VmFyaWFudCAxJnV0bV9tZWRpdW09ZW1haWwmdXRtX3NvdXJjZT1ibiZ1dG1fY2FtcGFpZ249VwNzcGNCCmcSvr4oZ-KNPqpSG3RyaXN0cmFtYmFsZHdpbjg3QGdtYWlsLmNvbVgEAAAB-Q~~)) saw revenue growth accelerate last time. 4. Next Up: Fed Meeting Thursday will bring us the next Federal Reserve interest rate decision. The second cut of the year is widely expected. - Weak jobs count: It comes after Friday’s print showed just 12,000 jobs added to the U.S. economy in October, a month rocked by hurricanes and strikes. - Confidence in a cut: The CME Fedwatch tool points to the near-certainty – 99.7% as of this morning – of a 0.25% cut. 5. Berkshire’s Weekend Update Berkshire Hathaway ([NYSE:BRK.B](~/AAQRxQA~/RgRpC0O-P0TAaHR0cHM6Ly93d3cuZm9vbC5jb20vcXVvdGUvbnlzZS9icmsuYi8_bGlkPTk4OTgxa3JuZGQ0cCZ1PTIwMzg3OTUwMjImc291cmNlPSZtYWlsaW5nX2lkPWYyNjM5ZWQ3LWFmYzMtNDMyNC1hZWI5LTBjZjg5NzhhZWQ2OSZtYWlsaW5nX25hbWU9VmFyaWFudCAxJnV0bV9tZWRpdW09ZW1haWwmdXRtX3NvdXJjZT1ibiZ1dG1fY2FtcGFpZ249VwNzcGNCCmcSvr4oZ-KNPqpSG3RyaXN0cmFtYmFsZHdpbjg3QGdtYWlsLmNvbVgEAAAB-Q~~)) posted solid Q3 results on Saturday, though insurance profit declined. - Cash mountain: Berkshire had cash and short-term investments of $325.2 billion at September 30, up from $277 billion in Q2. - Beating the market: Warren Buffett’s investment vehicle is up 105% over the past five years, compared to the S&P 500’s gain of 85%. 6. Foolish Fun What’s your favorite Buffett quote, and how have you applied it in your own investing journey? Share with friends and family, or become a member to hear what your fellow Fools are saying! Image from Jester AI. How did you like this email? 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