JPMorgan Chase misses third-quarter revenue and earnings estimates as the new U.S. bank earnings season begins. The roundup also reports that Delta delays its planned nonstop Atlanta–Riyadh route until March after attacks close Riyadh’s airport, while Meta launches Muse Wonder, an AI model available through subscriptions starting at $20 per month. McDonald’s is expanding its focus on chicken and drinks amid competition from brands gaining market share among its customers.
Jim Cramer says the coming earnings season will give investors a clearer view of corporate performance and the artificial intelligence trade. Major banks report Tuesday, followed by ASML, Bank of America, Morgan Stanley and BlackRock on Wednesday; Taiwan Semiconductor Manufacturing reports Thursday, alongside inflation and retail sales data. Cramer sees possible opportunities in some bank and semiconductor stocks but warns that rising bond yields remain a significant market risk.
Broadcom is working to arrange more than $50 billion in financing for OpenAI’s custom AI chip, while Oracle is discussing financing for a large chip purchase. Apollo, Blackstone and Goldman Sachs are among lenders in talks to fund megadeals worth tens of billions of dollars apiece.
