Pre-Market Report, Oct 29: Futures Slip as Alphabet Rattles AI Trade
S&P 500 futures ease and Nasdaq 100 futures drop over 1% as Alphabet's results stir AI jitters; GDP and PCE inflation data are in.
The market before the open and at the close, economic releases, earnings, Congress trade disclosures and the week ahead.
S&P 500 futures ease and Nasdaq 100 futures drop over 1% as Alphabet's results stir AI jitters; GDP and PCE inflation data are in.
PCE inflation hit 3.6% annually in September, matching forecasts and up from August's 3.4%, as core inflation also ticked higher.
Third-quarter GDP grew 3.4% at an annual rate, above the 3.2% forecast and up from 2.2% prior.
Merck beat both earnings and revenue estimates for the quarter, and shares traded higher before the open.
Eli Lilly beat on both earnings and revenue for the quarter reported before Thursday's open, and shares rose premarket.
Caterpillar posted $7.20 EPS, topping estimates, but revenue of $20.68 billion fell short. Shares dropped over 9% pre-market.
New filings show Rep. Pete Sessions disclosed 24 stock sales, with a median of 26 days between trade and disclosure.
Microsoft beat earnings and revenue estimates for the quarter reported October 28, 2026; shares rose after hours.
Alphabet's Class A shares dropped after hours as both earnings per share and revenue came in below estimates for the quarter.
Alphabet's Q3 2026 EPS and revenue came in below estimates, and the stock dropped after hours.
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