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Here’s what we got today:

• 💳American Express Stock Is Down Even After Profits Have Increased

• 🍿Netflix Is Still One To Watch After Its Q3 Report

American Express Stock Is Down Even After Profits Have Increased.

American Express ($AXP) reported its Q3 earnings, and investors think it's not the whole package. Profits have beaten expectations with a profit of $2.51 billion and $3.49 per share, compared to $2.45 billion and $3.30 per share gained last year, a 6% profit increase. Amex beat EPS estimates. Their predominant high-earners card members spent 6% more on their cards, and total member loans rose 14% YOY. Even though analysts predicted $3.27 per share earnings, their stock decreased by 2.9% on Friday. The market is cautious about the ability of their wealthier clients to do more card-io spending, following their 6% not-so-great spending increase.

• American Express's $0.70 per share dividend is 17% higher than last year. This is a testament to the higher management's confidence in maintaining resources for this effort.

• Total revenue missed its estimate, with analysts predicting $16.67 billion. Meanwhile, the actual revenue was $16.64 billion, up from $15.38 billion last year.

Netflix Is Still One To Watch After Its Q3 Report

Investors binge-watched Netflix's ($NFLX) earnings report and are now chilling with their gains. On Friday, Netflix reached a fresh all-time high after reporting 5.1 million new subscribers in Q3. Analysts predicted revenue of $9.78 billion, and Netflix outshone that, coming in at $9.83 billion. Password crackdowns, an ad-supported tier, and price bumps fueled a 15% revenue surge at Netflix year-over-year. These results are spectacular after a turbulent year. The strikes by writers and actors last year still cause pain. But investors are optimistic. Ongoing business optimization and macroeconomic factors seem to be in their favor.

• Earnings per share hit $5.40, crushing the $5.16 estimate and $3.73 EPS reported one year ago.

• Shares increased more than 10% on Friday after better-than-expected earnings results.

Markets

China's central bank invests $112 billion in its stock market. On Friday, the People's Bank of China (PBOC) announced two funding schemes to see 800 billion yuan ($112.38 billion) infused into China's stock market. [Read]

IMF issues fiscal debt warning. The IMF will start its annual meeting on Monday. The monetary fund warns global leaders that the global debt will exceed $100 trillion this year, mainly due to the U.S. and China. [Read]

Jerome Powell's actions unintentionally disrupted the property market. The ultrarich are reluctant to sell properties acquired with low interest rates, leading to the lowest turnover in the last 30 years. Younger homeowners are stuck due to current mortgage rates and cannot move up the property ladder. [Read]

Business

23andMe's CEO promises to salvage the company. The entire board of 23andMe ($ME) resigned one month ago, stating the problematic direction of the company. CEO Anne Wojcicki promises to steady the ship but emphasizes that it will be difficult. [Read]

Potential Listeria outbreak in 12 million pounds of recalled meat. BrucePac, a meat processing plant, initiates the large-scale recall. The recall affects major nationwide retailers, including Amazon ($AMZN), Walmart ($WMT), Costco ($COST), and Trader Joe's. [Read]

mRNA licensing agreements surged by 800%. mRNA-based pharmaceuticals have experienced an 800% increase in deal values between 2019 and 2024. These reports come amid the latest GSK lawsuits filed against Pfizer ($PFE), BioNTech ($BNTX), and Moderna ($MRNA). [Read]

Fed to cut twice more this year after worries about data overdone. Investing.com

Automattic offers the chance to quit with 9 months' severance. Yahoo Finance

Record rally pushes Wall Street to longest winning streak of the year. Fortune

Fintechs are literally passing the buck to private credit. Financial Times

A Sam Altman-backed nuclear power stock soared 150% in a month. Yahoo Tech

US budget deficit tops $1.8 trillion in fiscal 2024, third-largest ever. Investing.com

China's property investment falls 10.1% y/y in Jan-Sept. Investing.com

Trump tariffs would hit these stock-market sectors the hardest. MarketWatch

Cigna resumes merger talks with rival health insurer Humana. Yahoo Finance

Amazon boss tells workers they can quit if they want to work remotely. Quartz

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.