Finimize - 🎃 Big Tech's treat (not trick)

Meta and Microsoft results, the UK budget, and the best cauldrons out there |
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Hi Reader, here's what you need to know for October 31st in 3:14 minutes.

  1. Meta and Microsoft served up wins on sales and profits
  2. If you can’t find growth stocks in the UK, you’re looking in the wrong places – Read Now
  3. Britain went big as it announced plans to hike taxes and borrowing to increase economic growth

😎 No one wants to follow the crowd. So join Victory Hill’s Richard Lum and 4fi’s Chris Ragland at our Modern Investor Summit and discover how to identify opportunities in alternative assets. Grab your free ticket

Big Tech Flashed Its Cards
Big Tech Flashed Its Cards

What’s going on here?

Microsoft and Meta both beat expectations in their latest results, but Microsoft made it look easy – proving that some of the seven are more “magnificent” than others.

What does this mean?

Microsoft, the third-biggest of the Magnificent Seven, grew 16% compared to the same time last year, with $65.6 billion in revenue – much of it driven by its cloud division. Meta grew revenues by an impressive 19%, while raking in $40.6 billion in revenue. But the social media maven also hinted that its popularity had taken a hit, with weaker-than-forecast user growth. Still, Meta shouldn’t feel too sorry for itself: its shares have had a solid run this year, rising 67% compared to Microsoft’s 15%. And, that’s a stellar showing, even if it does mean that it will have to work even harder to wow its shareholders in the future.

Why should I care?

Zooming in: A well-run race.

AI is investors’ new darling, so they’re keeping Microsoft’s Azure cloud division – which fuels a hefty 60% of its revenue – in sharp focus. But they’re also keeping close tabs on CoPilot AI, which has been integrated into Microsoft’s software suite with power from the firm’s slice of OpenAI. Innovation doesn’t come cheap, which explains why Microsoft spent a billion more on investments this quarter than last. And not for nothing: its investments in data center capacity have been accompanied by Azure market share gains.

The bigger picture: Anything you can do…

Meta isn’t exactly sitting around twiddling its thumbs. The Facebook parent is spending big, working on an AI-powered search engine that’d make it less reliant on Alphabet’s Google and Microsoft’s Bing. The move shows where the tech industry is heading, as the big fish dive deeper into AI and advanced search. And Meta’s push into that world will be one to watch as the giants sprint to change the game of accessing information online.

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TODAY'S INSIGHT

How To Find Growth Stocks In The UK (Hint: You Have To Look In the Right Spot)

How To Find Growth Stocks In The UK (Hint: You Have To Look In the Right Spot)

People say the UK just doesn’t have a lot of growth stocks.

Investors turn to London when they’re looking for dividends or a naturally defensive tilt in a downturn. And when they’re looking for something more high-flying, they turn to Asia or the US to find it.

They don’t have to: there are plenty of growth stocks to be found in the UK – if you explore the right investing theme.

That’s today’s Insight: the UK’s growth stock opportunities, and where they’ve been hiding.

Read or listen to the Insight here

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Britain Goes Retro
Britain Goes Retro

What’s going on here?

The UK government dropped its new budget plan on Wednesday, announcing its biggest tax hikes since the 1990s in an attempt to spark economic growth.

What does this mean?

The UK is a big cheese in the world economy, thanks to its trade links and London’s status as a financial hub. So investors’ eyes were peeled as the government announced its plans for £70 billion ($91 billion) in new spending, aimed at things like education, housing, infrastructure, and healthcare. That’ll be financed by a £40 billion ($52 billion) increase in taxes and the rest from increased borrowing. And the plan goes like this: increases in capital gains tax, inheritance tax, social security, and the usual targets from folks’ shopping baskets – liquor and smokes.

Why should I care?

For you personally: Government borrowing matters.

In most developed countries, deficits are heading higher. Makes sense: outgoings have been greater than what’s being raked in, leading to ever-ballooning debt. Those higher deficits increase the cost of borrowing for governments as investors demand more interest to lend them money. That’s important: the cost of your borrowing – mortgages, loans, and credit cards – is linked to what the government’s being charged. That’s one reason why mortgage rates in the US hit their highest level since July this week, reflecting investors’ concerns that Washington’s spending will increase, regardless of who wins the election.

Zooming in: Playing the long game.

Higher taxes mean extra costs for companies and less cash for investment and hiring – which doesn’t sound great for economic growth. But the UK government is banking on being on firmer ground by 2029 when the next election is likely to happen. (Remember, the economy’s a driver of folks’ votes.) And if taxes come up short – as some experts have feared – and spending continues as planned, well, that’s a potentially worse outcome for the economy and for UK government bond investors.

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QUOTE OF THE DAY

"Eat, drink, and be scary."

– Rosie O'Donnell (an American comedian)
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Get the lay of the land

US elections have been known to send the markets any which way.

And trying to predict the vote’s outcome is no easy business either, so maybe it’s best to look beyond who’s going to come out on top.

That’s why Richard Flynn, managing director and head of Charles Schwab UK, and Jeff Kleintop, managing director and chief global investment strategist at Charles Schwab, are joining us for a US election special.

They’ll dive into what the market landscape might look like after the November 5th vote – giving you expert insights into how to adapt to policy changes and investing trends, plus the strategies that will help you navigate any uncertainty.

So grab your free ticket now and be ready for the new White House.

Grab Your Free Ticket

🎯 On Our Radar

1. A horrifying discovery. Meet the spookfish, a new species of ghost shark.

2. Don’t get bogged down by the circus. Check out IG’s free guide to investing during the political season.*

3. Really haunted houses. Here’s how gothic architecture became spooky.

4. You need a lot of time and knowledge to be a value investor. Well, unless you have a digital assistant to do the heavy lifting for you.*

5. Double double, toil and trouble. The best cauldrons (dutch ovens) for making soup.

🌍 Finimize Live

🤩 Grab your tickets...

All events in UK time.
🇺🇸 Post-Election Special: The Landscape, Regardless Of Who Wins: 5pm, November 7th
🏅How To Tap Into Your Gold Opportunity: 5pm, November 14th
💰 Spread Betting vs CFDs: How To Trade Tax-Free: 5pm, November 19th
🚀2024 Modern Investor Summit: 2pm, December 3rd

Get your free ticket for the Modern Investor Summit

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