SPY fell 1.8% and QQQ 3.5% this week as Lula's re-election defied Bolsonaro bets and sent Banco Bradesco down 37.4%. Genmab rose 30.3% on a Phase 3 win, while Reddit lost 36.4% after weak guidance.
Top News
Brazil's election reversal hit Brazilian banks while earnings and trial data lifted small and mid caps.
Indexes
SPY -1.77%, QQQ -3.47%, DIA -1.07% on the week, with concerns about AI spending returns weighing on large-cap tech (Bloomberg).
BBD Banco Bradesco
Down 37.35% after Lula's October 25 win defied Bolsonaro bets; Itaú BBA and Citi downgraded on a tougher 2027 outlook (Investing.com).
GMAB Genmab
Up 30.30% on Phase 3 petosemtamab data that halved death risk in head-and-neck cancer; Danish shares rose 44%, the best week since 2008 (Bloomberg).
GKOS Glaukos
Up 32.83% after Q3 revenue of about $211M beat roughly $168M expected, with a 2027 revenue target of $1B (Investing.com).
RDDT Reddit
Down 36.41% on weak Q4 guidance; the CEO blamed Google's AI search features for cutting referrals, and JPMorgan and Goldman cut targets (TheStreet).
Trending on X
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AI Economy
Google AI search
Reddit's CEO said Google's AI search features cut more than 1M weekly referrals in October (TheStreet).
AI spending doubts
Questions about returns on AI spending weighed on large-cap tech in the same stretch (Bloomberg).
Smart Money
META Meta Platforms
Among the most-bought names in our tracking this week.
See all of today's top buys at fintwit.ai
AI Pick
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No AI rating data was supplied this week, so no pick is shown.