Good Morning. This is the Investor Lookout with the daily digest to make you a smarter investor. (Keep an eye on the Lookout Watch to see how we’re doing!)

Here’s what we got today:

• 🍟 McDonald's CEO Promises Outbreak Is 'Behind Us'

• 🎥 TikTok's Founder Surges To First Place In China's Richest List

McDonald's CEO Promises Outbreak Is 'Behind Us'

McDonald's ($MCD) investors not sure if they are lovin' it. The fast-food giant beat Q3 expectations with EPS of $3.23 and revenue up 3% to $6.87B, but shares still dropped 0.6%. U.S. sales flipped positive to 0.3%, reversing last quarter's decline, while global sales fell 1.5%. The recent E. coli outbreak has investors on edge despite CEO Kempczinski's assurance that it's contained with no material impact expected. The company removed the contaminated supplier and Quarter Pounders will return to menus next week.

• Loyalty program performed well with over $28 billion in trailing 12-month sales, $8 billion for the quarter

• U.S. same-store sales are up 0.3%, reversing last quarter's decline. Global same-store declined 1.5%

TikTok's Founder Surges To First Place In China's Richest List

Short videos can make a good source of income. Ask ByteDance founder Zhang Yiming, who just claimed to be the richest man in China, according to Hurun Research Institute. Yiming's wealth stands at $49.3 billion, driven by TikTok's success. He emerged from fifth place to take Nongfu Spring's ($9633.HK) Zhong Shanshan crown, whose wealth took a 24% hit after consumer backlash. China's billionaire count dropped by 142 to 753 year-on-year, decreasing by more than 30% from the 2021 high. This year's list added only 54 new people, the lowest figure in two decades.

• Total billionaire wealth dropped 10% to $3 trillion

• The tech sector replaced real estate as the dominant industry on the list

Markets

U.S. consumer confidence surges in October to highest level in nine months. The index reached 108.7 in October versus the forecasted 99.5. The surge is a complete reversal of the steep decline seen in September. SPX (^SPX) opened lower on Tuesday while the 10-year Treasury yield rose to 4.324%. [Read]

AI boom thrusts Europe between power-hungry data centers and environmental goals. The surge in AI computing demand creates tension between data center expansion and EU's environmental targets. Data center energy could rise 28% by 2030, potentially tripling with AI adoption. [Read]

Japan’s political instability could cloud economic policy, herald ‘revolving door’ of prime ministers. The Liberal Democratic Party's failure to secure a majority in the lower house election creates uncertainty for Japan's economic future. [Read]

Business

Royal Caribbean CEO: Americans are ‘wealthier than ever’ and love to travel. The company's Chief Executive, Jason Liberty, reports strong Q3 earnings, while the stock hit another record high. Full-year guidance was raised, but current quarter outlook disappoints. [Read]

The biggest U.S. homebuilder misses on earnings as it says buyers are staying on the sidelines. D.R. Horton's ($DHI) missed Q4 expectations, dropping earnings to $3.92 per share from $4.45. The high interest rates environment keeps buyers on the sidelines or forces them towards smaller floor plans. [Read]

Ford's stock drops 6% in after-hours trading after releasing third-quarter earnings. Ford ($F) cut its profit guidance for this year to $10 billion from $12 billion, citing high costs and low volumes in its Ford Pro and Ford Blue segments. Q3 revenue landed at $46.2 billion, up 5.5% year-over-year. [Read]

European car safety agency snubs BYD's Atto 3 driver assistance system. Investing.com

Deficit Threat Drives Bond Yields Higher. WSJ

Over 90% of AWS's biggest data-center customers are using its Graviton chips. BI

U.S. crude oil edges lower after worst day in two years. CNBC

PayPal shares fall on revenue miss, soft guidance. CNBC

The list of major companies requiring employees to return to the office. BI

Chip stocks are ready for a big rally, based on this ‘unusual’ data point. MarketWatch

Starbucks is paring down its menu. Quartz

Nigeria-based fintech Moniepoint gains ‘unicorn’ status. FT

Alphabet shares rise on earnings beats boosted by cloud revenue. CNBC

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.