Shares of Meta Platforms (META.O) erased gains after rising as much as 5.5% after hours.

RBNZ: Banks may face increased risk of defaults on agricultural loans.

[Biden requests nearly $56 billion from Congress for domestic spending] As part of an emergency request released on Wednesday, U.S. President Joe Biden requested nearly $56 billion from Congress for disaster relief and other domestic projects. This is in addition to the $106 billion the Biden administration requested last week for Israel, Ukraine and other foreign aid programs. The new funding includes a request for $23 billion to respond to natural disasters such as hurricanes and wildfires, and $6 billion for U.S. security. and energy independence and $16 billion for child care, among others. The Biden administration has also requested more than $1 billion in funding for U.S. farmers who grow crops that are then distributed to countries overseas.

USD/JPY rose 15 points in the short term, briefly breaking through 150.30.

Fed Chairman Jerome Powell did not comment on monetary policy or the economic outlook in prepared remarks.

Market news: Rocket Lab (RKLB.O) received authorization from the FAA to resume launches.

In the third quarter, the average number of daily active users of the Meta Platforms (META.O) APP "family" was 3.14 billion, a year-on-year increase of 7%; the average number of monthly active users was 3.96 billion, a year-on-year increase of 7%.

Meta Platforms (META.O) expects infrastructure-related costs and payroll expenses to increase next year.

Meta Platforms (META.O) expects total full-year expenses to be $87 billion to $89 billion, compared with the previous forecast of $88 billion to $91 billion; total expenses in 2024 are expected to be $94 billion to $99 billion, compared with the previous forecast of $96.53 billion. .

Meta Platforms (META.O) expects Reality Labs’ operating losses to increase year over year in 2023.

Meta Platforms (META.O) third-quarter advertising revenue was US$33.64 billion, a year-on-year increase of 24%.

Meta Platforms (META.O) Reality Labs revenue in the third quarter was US$210 million, compared with market expectations of US$313.4 million.

[Facebook daily active users exceed expectations] Meta Platforms (META.O) Facebook’s daily active users in the third quarter were 2.09 billion, compared with market expectations of 2.07 billion; Facebook’s monthly active users were 3.05 billion, compared with market expectations of 3.05 billion.

Meta Platforms (META.O) U.S. stocks rose more than 3% after hours.

IBM (IBM.N) Q3 net profit in 2023 was US$1.704 billion, compared with -US$3.196 billion in the same period last year, and market expectations were US$1.518 billion; EPS was US$1.84, compared with US$3.54 in the same period last year, and market expectations were US$1.67.