[Overnight global news you need to know on Thursday: The Democratic leader of the U.S. House of Representatives vowed to revoke Trump’s tariffs and end the war with Iran. Oil prices fell by more than 8%; U.S. stock prices diverged, with large technology stocks soaring and AI concepts such as storage and optical communications falling] global news 1. Qualcomm gave flat profit guidance for the next fiscal quarter, citing generally rising parts and manufacturing costs. Qualcomm fell more than 5% after the bell. The company expects earnings per share for the quarter of $2.15 to $2.35, compared with analysts' average estimate of $2.32; revenue is expected to be $10.4 billion to $11.2 billion, compared with analysts' average estimate of $10.55 billion. 2. Arm fell more than 4% after the market closed. The company expects third-quarter revenue to be US$1.49 billion to US$1.59 billion, and the market estimate is US$1.53 billion. 3. Snap fell more than 10% after the market closed. The company expects fourth-quarter revenue of US$1.95 billion to US$1.99 billion, compared with market estimates of US$1.96 billion. 4. AppLovin surged 17% after hours. The company's third-quarter earnings per share were US$4.30, compared with an estimate of US$4.04; revenue was US$2.18 billion, compared with an estimate of US$2.07 billion. 5. Trump said that the election defeat was indeed caused to a large extent by the conflict with Iran, but if he had it to do over again, he would still make the same decision. Trump also said he might be able to get along with Democrats and that if they impeached him, it would destroy the Democratic Party. 6. House Democratic leader Jeffries said he will push for the passage of legislation to end Trump's tariff measures and end the Iran war. 7. Apple plans to further reduce the artificial intelligence usage limit for employees. The daily AI usage quota for some engineers has been reduced from US$300 to US$200. The company has also cut its budget for internal AI use to control spending. 8. Citigroup strategist Daniel Tobon said that the weakening of the U.S. dollar after the U.S. midterm elections will be short-lived. With the release of new economic data, market focus will return to the Fed's interest rate outlook. global market 1. The three major U.S. stock indexes collectively closed higher. The Nasdaq rose 1.44%, the Dow Jones Industrial Average rose 3.03%, and the S&P 500 Index rose 1.58%. Large technology stocks surged, with Microsoft and Amazon rising by more than 6%, and Apple rising by more than 5%. AI concept stocks bucked the trend and fell. In the storage sector, Seagate Technology fell by more than 8%, Micron Technology and SanDisk fell by 7%, and Western Digital fell by more than 6%. In terms of cloud service companies, CoreWeave fell by more than 9%, and NEBIUS fell by more than 7%. In terms of optical communication stocks, Marvell Technology and Lumentum fell by more than 7%, and Coherent and Corning fell by more than 5%. 2. Traders are betting that a Democratic victory will lead to an earlier end to the Iran war. International oil prices have fallen sharply. The settlement price of Brent crude oil futures for January delivery fell 8.67% to US$94.62 per barrel; WTI for December delivery fell 8.29% to US$88.12 per barrel. 3. International precious metals strengthened, with spot gold prices rising by 3.28% to US$4,058.93 per ounce and spot silver prices by 4.86% to US$52.19 per ounce. 4. Livermore’s leading index of Chinese concept stocks closed up 1.7%. Among the constituent stocks, Beike and Bilibili rose by more than 5%, while Alibaba, Baidu, iQiyi, and NetEase rose by more than 4%.