Market 10/30: US Reduces Tariffs, Lifts Sanctions in Exchange for Rare Earths

Key highlights:

• US-China trade agreement

• EU Q3 GDP rises slightly, ECB holds rates unchanged

• BOJ holds rates at 0.5%

• META: Concerns over costs and $15.9 billion one-time tax

• Revenue:

• Alphabet: CapEx up after earnings beat expectations

• LLY: Strong sales acceleration

• CHIPOTLE: Revenue miss, lowers sales forecast

• Market: Money rotation into earnings reporters