Nasdaq: Microsoft and Alphabet Report Hours After Fed…
By Abdelaziz Fathi
AI summary of the source article
The Nasdaq Composite fell 0.7% over five sessions to 25,955.34 ahead of an upcoming Federal Reserve policy decision and major earnings reports from Alphabet, Microsoft, and Amazon.
Why it matters
For technology investors, the issue is whether Microsoft, Alphabet and Amazon can show that the enormous capital expenditure behind AI is producing enough cloud growth, backlog conversion and future cash flow to justify valuations being squeezed by higher borrowing costs.
Key facts
- The Federal Reserve announces its policy decision at 2:00 p.m. ET on Wednesday, October 28.
- Alphabet and Microsoft report earnings Wednesday afternoon, followed by Amazon, Intel, Sandisk, and Coinbase on Thursday.
- Advance third-quarter U.S. GDP and September PCE inflation data are scheduled for Thursday at 8:30 a.m. ET.
Source excerpt · FinanceFeeds
The Nasdaq Composite enters its biggest earnings week of the quarter at 25,955.34, down 0.7% over the past five sessions, with the Federal Reserve and two of the largest AI hyperscalers compressed into a single Wednesday afternoon. The index slipped 0.21% on Friday after Thursday's 2.6% rout, while the S&P 500 finished at 7,623.68 and the Dow Jones Industrial Average at 52,215.16. The weekly loss…