Top Wall Street executives are viewing the Federal Reserve's interest rate cutting cycle as a boon for US economic activity. Top trending stocks on the Yahoo Finance platform include Abbot Laboratories (ABT), Qualcomm (QCOM) and Intel (INTC), J.B. Hunt Transportation Services (JBHT), L'Oréal (OR.PA), and Cisco Systems (CSCO). TAKEAWAYS A $420 billion sell-off in chip stocks rocks the global AI semiconductor sector. US stock futures climb following strong results from Morgan Stanley, the bank pushes higher after its third quarter numbers beat across the board. Luxury giant LVMH plunged after its earnings report showed a slowdown in its Chinese consumer. Sales fell the most since the pandemic, wiping 150 billion Euros from its market cap. The numbers also show weakness in the company's second-largest market, the U.S. Yahoo Finance's flagship show, Morning Brief, is the ultimate guide to making smarter portfolio decisions. Find this and other episodes of Morning Brief here. Thoughts? Questions? Fan mail? Email us at [email protected]. Yahoo Finance's Morning Brief is hosted by Seana Smith and Brad Smith. Learn more about your ad choices. Visit megaphone.fm/adchoices