Here are five key things investors need to know to start the trading day:
1. Earnings expectations
2. McDonald’s earnings
A Quarter Pounder hamburger is seen on a menu at a McDonald’s on October 23, 2024 in the Flatbush neighborhood in the Brooklyn borough of New York City.
Michael M. Santiago | Getty Images
McDonald’s announced third-quarter earnings Tuesday morning that topped Wall Street expectations. The fast food giant’s adjusted earnings per share were $3.23, compared with $3.20 a share expected by an LSEG survey of analysts. Net sales rose 3% to $6.87 billion, compared with the consensus estimate of $6.82 billion. The report comes after a deadly E. coli outbreak was linked to McDonald’s Quarter Pounder burgers. As of Friday, 75 health cases have been tied to the outbreak, including one death of an older adult.
3. ‘Infinite money glitch’ sued
A person walks out of a Chase Bank on October 11, 2024 in New York City.
Michael M. Santiago | Getty Images
JPMorgan Chase sued customers who allegedly stole thousands of dollars from ATMs by taking advantage of a technical glitch that allowed them to withdraw funds before a check bounced. The bank filed three lawsuits on Monday against some customers who withdrew the highest amounts in the so-called “infinite money glitch” that went viral on social media in late August. One case involved a man who owes JPMorgan $290,939.47 after an unidentified accomplice allegedly deposited a counterfeit $335,000 check at an ATM, while the two other suits involve cases in which customers allegedly owe the bank sums ranging from about $80,000 to $141,000.
4. Ford hit the breaks
In this photo illustration, the Nvidia logo is displayed on a smartphone screen against a computer screen what displays stock graphs on August 19, 2024 as stock markets stabilize after a setback at the beginning of August. (Photo by Dominika Zarzycka/NurPhoto via Getty Images)
Nurphoto | Nurphoto | Getty Images
Ford Motor guided to the low end of its previously announced 2024 earnings forecast as it slightly topped Wall Street’s third-quarter expectations. The company said on Monday it now expects adjusted earnings before interest and taxes, or EBIT, of about $10 billion, compared with its prior guidance for between $10 billion and $12 billion. The Detroit automaker reported adjusted earnings per share of 49 cents compared with 47 cents expected by an LSEG survey of analysts. Revenue came in at $43.07 billion compared with the consensus estimate of $41.88 billion.
5. Apple Intelligence is here
People line up outside an Apple Store in Dubai on September 20, 2024, as the new iPhone 16 is released in stores.
Giuseppe Cacace | Afp | Getty Images
Apple on Monday released iOS 18.1, an iPhone update that includes the first public version of Apple Intelligence, its artificial intelligence system. The first wave of Apple Intelligence includes features that can proofread or rewrite text, remove objects from photos and summarize a stack of notifications into a single message. The update also offers improvements to Siri, including a new look that makes the entire screen glow around the phone’s edges. The release is a critical milestone for Apple, as Wall Street has questioned the company’s strategy to implement AI.
— CNBC’s Alex Harring, Amelia Lucas, Hugh Son, Michael Wayland and Kif Leswing contributed to this report.