M Alfathan Rahman
M Alfathan Rahman
The Fed sets rates, then Microsoft and Alphabet report results, all on the same night.
The Nasdaq Composite rose 1.18% to 26,477.81 on Tuesday, according to Nasdaq. The index has gained for two straight days heading into the busiest session of the week.
The Fed's rate decision lands on Wednesday afternoon US time. After that, Microsoft and Alphabet report quarterly results after the close.
| Stock | Movement | What to Watch |
|---|---|---|
| MSFT | Down 0.24% to $531.33 on Tuesday; reports after the close | Results for the quarter to September, with consensus EPS of $4.71 |
| GOOGL | Up 1.19% to $320.58 on Tuesday; reports after the close | Q3 results with consensus EPS of $2.94, plus a report that OpenAI plans to buy Google's AI chips |
| KLAC | Up 2.98% to $153.66 on Tuesday; reports after the close | Results for the quarter to September, with consensus EPS of $1.18 |
| MU | Up 2.77% to $928.76 on Tuesday | The response to SK Hynix's Q3 profit, a fellow memory chipmaker |
| TMUS | Flat (-0.07%) at $146.83 on Tuesday; reports after the close | Q3 results, with consensus EPS of $2.86 |
Source: Tuesday closing prices from Nasdaq; report timing and consensus EPS from the Nasdaq earnings calendar; the OpenAI report from Investing.com; SK Hynix results from CNBC.
The Fed's two-day meeting ends on October 28. The decision is announced on Wednesday afternoon US time.
Markets expect the Fed to hold rates, according to Investing.com. Investors will look for signals on the next policy move.
Microsoft (MSFT) and Alphabet (GOOGL) report results for the quarter to September after the market closes, according to the Nasdaq earnings calendar. Consensus EPS is $4.71 and $2.94 respectively.
Alphabet also has fresh news. OpenAI plans to buy Google's AI chips, according to a report by The Information cited by Investing.com.
South Korea's SK Hynix posted third-quarter profit above forecasts, and its shares jumped more than 8%, according to CNBC. That puts the spotlight on Micron (MU), a fellow memory chipmaker.
KLA (KLAC), a supplier of chipmaking equipment, also reports after the close, with consensus EPS of $1.18.
US stock futures were flat ahead of the Fed decision and Big Tech reports, according to Investing.com.
Outside the watchlist, Nvidia (NVDA) rose 0.90% to $217.94 on Tuesday, according to Nasdaq. Asian stocks also climbed on Wednesday on AI optimism, according to Bloomberg.
Gold held above $4,000 an ounce ahead of the Fed decision. On Thursday at 8:30 a.m. ET, markets get third-quarter GDP and September PCE inflation, according to the BEA schedule.
Tonight the Fed, Microsoft and Alphabet test the market's direction after two straight days of Nasdaq gains.
Big Tech results will show where AI spending stands, while the Fed's signals will shape the outlook for rates.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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