{"id":55857,"date":"2025-11-10T17:38:24","date_gmt":"2025-11-10T21:38:24","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/market-rallies-apple-pulls-iphone-air-oxy-coreweave-report-earnings\/55857\/"},"modified":"2025-11-10T17:38:24","modified_gmt":"2025-11-10T21:38:24","slug":"market-rallies-apple-pulls-iphone-air-oxy-coreweave-report-earnings","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rallies-apple-pulls-iphone-air-oxy-coreweave-report-earnings\/55857\/","title":{"rendered":"Market Rallies; Apple Pulls iPhone Air; OXY, CoreWeave Report Earnings"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Major U.S. stock indices closed significantly higher, with the NASDAQ (<a href=\"\/stock\/%5EIXIC\">^IXIC<\/a>) surging 2.29% and the <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/%5EGSPC\">^GSPC<\/a>) gaining 1.57%.<\/strong><\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) has reportedly cancelled its 2026 iPhone Air release, citing a lack of traction for the initial model, marking a setback for new iPhone variants.<\/strong><\/li>\n<li><strong>Occidental Petroleum (<a href=\"\/stock\/OXY\">OXY<\/a>) reported Q3 2025 adjusted net income and EPS above estimates, despite a slight miss on net sales, while CoreWeave (<a href=\"\/stock\/CORE\">CORE<\/a>) exceeded revenue and adjusted EBITDA forecasts.<\/strong><\/li>\n<li><strong>Former President Trump issued multiple statements on economic policy, including a new air traffic control system, predictions for inflation, and proposed tariff adjustments.<\/strong><\/li>\n<\/ul>\n<p>U.S. equity markets concluded the trading day with substantial gains, as the <strong>S&amp;P 500 (<a href=\"\/stock\/%5EGSPC\">^GSPC<\/a>)<\/strong> rose by <strong>105.67 points, or 1.57%<\/strong>, to close at <strong>6,834.47<\/strong>. The <strong>NASDAQ (<a href=\"\/stock\/%5EIXIC\">^IXIC<\/a>)<\/strong> led the advance, climbing <strong>526.66 points, or 2.29%<\/strong>, to <strong>23,531.20<\/strong>, while the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/%5EDJI\">^DJI<\/a>)<\/strong> finished up <strong>382.64 points, or 0.81%<\/strong>, at <strong>47,369.74<\/strong>.<\/p>\n<p>In corporate news, <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> has reportedly decided to pull next year\u2019s <em>iPhone Air<\/em> from its <strong>2026 release lineup<\/strong>. Sources involved in the project indicate the decision was made after the first model <em>failed to gain traction<\/em>, representing another challenge in the company&#39;s efforts to introduce a successful new iPhone variant.<\/p>\n<p>Quarterly earnings reports also captured investor attention. <strong>Occidental Petroleum (<a href=\"\/stock\/OXY\">OXY<\/a>)<\/strong> announced its <strong>Q3 2025<\/strong> results, with <strong>adjusted net income<\/strong> reaching <strong>$649 million<\/strong> (estimated $499.3 million) and <strong>EPS<\/strong> at <strong>65 cents<\/strong> (estimated 49 cents), both surpassing analyst expectations. However, <strong>net sales<\/strong> came in slightly below estimates at <strong>$6.62 billion<\/strong> against an estimated <strong>$6.69 billion<\/strong>. The company&#39;s <strong>Oil &amp; Gas Pre-Tax Income<\/strong> was strong at <strong>$1.3 billion<\/strong> (estimated $1.07 billion), while <strong>Chemical Pre-Tax Income<\/strong> was <strong>$197 million<\/strong> (estimated $216.4 million). The realized oil price per barrel was <strong>$64.78<\/strong>, slightly above the estimated <strong>$64.34<\/strong>.<\/p>\n<p>Cloud infrastructure provider <strong>CoreWeave (<a href=\"\/stock\/CORE\">CORE<\/a>)<\/strong> also released its <strong>Q3 2025<\/strong> earnings, reporting <strong>revenue<\/strong> of <strong>$1.36 billion<\/strong>, exceeding the estimated <strong>$1.29 billion<\/strong>. <strong>Adjusted EBITDA<\/strong> reached <strong>$838.1 million<\/strong> (estimated $821.7 million), with an <strong>adjusted EBITDA margin<\/strong> of <strong>61%<\/strong> (estimated 62.3%). The company&#39;s <strong>adjusted operating income<\/strong> was <strong>$217.2 million<\/strong> (estimated $177.2 million), and it reported a <strong>net loss<\/strong> of <strong>$110.1 million<\/strong>, which was better than the estimated loss of <strong>$299.6 million<\/strong>. <strong>Loss per share<\/strong> was <strong>22 cents<\/strong>.<\/p>\n<p>Meanwhile, <strong>Commonwealth Bank of Australia\u2019s<\/strong> profit saw an increase in the first quarter, driven by <em>robust growth in lending<\/em> to both businesses and households.<\/p>\n<p>In political and economic commentary, former President Trump made several notable statements. He announced that the <strong>U.S. is set to launch a new air traffic control system within the next 2-3 weeks<\/strong>. Trump also predicted that <strong>inflation will drop to 1.5% &quot;pretty soon&quot;<\/strong> and indicated that his administration is <strong>working on a slightly lower tariff structure for Switzerland<\/strong>. On international relations, he stated that the U.S. is <strong>working to improve Israel\u2019s relations with all nations<\/strong> and is <strong>cooperating with Israel on normalizing ties with Syria<\/strong>. Furthermore, Trump and Syrian President Al-Sharaa reportedly agreed to <strong>integrate the SDF with the Syrian Army<\/strong>, with Trump reaffirming support for a <strong>Syria\u2013Israel security pact<\/strong>. Domestically, Trump proposed a <strong>$2000 dividend for middle and lower-income Americans<\/strong>, to be funded by tariff revenue, and warned of an <strong>economic disaster if the Supreme Court rules against a key tariff case<\/strong>. He also described a recent shutdown deal as &quot;very good&quot; and stated that his healthcare plan would prioritize payments to people over companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major U.S. stock indices closed significantly higher, with the NASDAQ (^IXIC) surging 2.29% and the S&amp;P 500 (^GSPC) 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