CNBC Daily Open: Everyone loves Reddit | Wilnesh News

Reddit turns a profit
Reddit Shares of the company soared nearly 25% in extended trading on Tuesday, surpassing the $100 mark for the first time as the company’s third-quarter results beat expectations. Notably, Reddit was profitable in the third quarter, with a net profit of $29.9 million, compared with a net loss of $7.4 million in the same period last year.

mixed market
Tuesday, Nasdaq Index rose 0.78%, closing at a new high S&P 500 Index increased by 0.16%, but Dow Jones Industrial Average down 0.36%. Pan-European Stoke 600 The index fell 0.57%. Earnings results for European companies were mixed, causing trade volatility in the region.

The end of the zero interest rate era
Larry Fink, CEO BlackRockFink said at a panel meeting on Tuesday that because “embedded inflation” remains high, the Fed believes it will only cut interest rates once, by 25 basis points, for the rest of the year. In the same event, Morgan Stanley Chief Executive Ted Peake said the era of zero interest rates and zero inflation is over.

(PRO) Citi Likes These Small Caps
this Russell 2000 It has gained about 10.4% so far this year. While that figure lagged the S&P 500’s 22% gain over the same period, analysts and investors alike are paying more attention to small-cap stocks. As the Fed cuts interest rates, small-cap stocks tend to benefit more – and Citi believes these small-cap stocks are worth buying.

A day in the life of an ordinary office worker:

• Commute to work. Send a snap of a crowded train to a friend
• Browse Reddit. giggle at the cat in r/pics
• Search Google for information on why orange cats are so evil
• Watch a collection of videos of cats knocking over vases on YouTube
• Arrive at the workplace. Continue browsing social media secretly

These behaviors are so ingrained in most of us that they are almost natural and necessary.

Their revenue is a particular highlight. In the third quarter, Alphabet’s advertising revenue grew 10.4% compared with the same period last year. While Snap and Reddit don’t specifically report their ad revenue, there are signs both companies are doing well in that area as well.

CEO Evan Spiegel said Snap’s total number of active advertisers more than doubled compared with the same period last year. Plus there were 2 million more daily active users globally than expected. More advertisers and more eyeballs means more revenue per ad.

Reddit, meanwhile, swung from a loss a year ago to a profit. This remarkable turnaround was driven in part by a 47% year-over-year increase in daily active users and better-than-expected average revenue per user.

All companies report earnings after the bell. In after-hours trading, Reddit shares surged nearly 25%, Snap shares soared about 10.6%, and Alphabet shares rose 5.8%.

it is Yuan and Microsoft’s Earnings will be reported later today. Microsoft isn’t really involved in the advertising market because it’s more focused on enterprise products. But investors will be watching to see if Meta can keep up with the positive trend so far.

Judging from the time I spend on Meta-owned Instagram and the ads I see, it seems like the ads know exactly what I want, and the company will likely see healthy growth in its ad revenue.

—CNBC’s Julia Boorstin, Jonathan Vanian and Jennifer Elias contributed to this report.

NOTE: The CNBC Daily Open will be closed on Thursday, October 31 due to a Singapore public holiday. Regular programming will resume on Friday.