📊 Earnings season in full swing
Nasdaq-100 futures -1.1% after Alphabet (GOOG) reported; shares -10% in premarket trading.
▪️Microsoft (MSFT) +3% on accelerating cloud business growth. For the first time since 2017, the company is selling at least $25 billion in bonds to fund AI.
Caterpillar (CAT) -9%. Revenue rose 17% to $20.68 billion, but came in below inflated expectations.
▪️Samsung -4%, as profit fell short of forecasts.
DoorDash (DASH) +7%, buying Instacart (CART) for $17 billion; CART +5%.
Shell (SHEL) +3% on refining profits.
Chipotle (CMG) and eBay (EBAY) +6%, Blue Owl (OWL) +5%.
▪️Adidas' (ADS) record quarter, up 3.5%, lifted Nike (NKE), Lululemon (LULU) and Deckers (DECK).
▪️Robinhood (HOOD) -1.7%, Strategy (MSTR) -2.7%.
👀 After the close, Amazon (AMZN), Intel (INTC), Sandisk (SNDK) and Starbucks (SBUX) report. Options are pricing in moves of ±6.8%, ±7.8%, ±6.9% and ±4.6%, respectively.
🇺🇸 U.S. Q3 GDP +3.4% versus a 3.1% forecast.
PCE inflation at 3.6%, core at 3.1%. BofA now expects Fed rate hikes in December and March.
🇪🇺 Lagarde is leaving the ECB in February amid a selloff in French bonds.
Nasdaq-100 futures -1.1% after Alphabet (GOOG) reported; shares -10% in premarket trading.
▪️Microsoft (MSFT) +3% on accelerating cloud business growth. For the first time since 2017, the company is selling at least $25 billion in bonds to fund AI.
Caterpillar (CAT) -9%. Revenue rose 17% to $20.68 billion, but came in below inflated expectations.
▪️Samsung -4%, as profit fell short of forecasts.
DoorDash (DASH) +7%, buying Instacart (CART) for $17 billion; CART +5%.
Shell (SHEL) +3% on refining profits.
Chipotle (CMG) and eBay (EBAY) +6%, Blue Owl (OWL) +5%.
▪️Adidas' (ADS) record quarter, up 3.5%, lifted Nike (NKE), Lululemon (LULU) and Deckers (DECK).
▪️Robinhood (HOOD) -1.7%, Strategy (MSTR) -2.7%.
👀 After the close, Amazon (AMZN), Intel (INTC), Sandisk (SNDK) and Starbucks (SBUX) report. Options are pricing in moves of ±6.8%, ±7.8%, ±6.9% and ±4.6%, respectively.
🇺🇸 U.S. Q3 GDP +3.4% versus a 3.1% forecast.
PCE inflation at 3.6%, core at 3.1%. BofA now expects Fed rate hikes in December and March.
🇪🇺 Lagarde is leaving the ECB in February amid a selloff in French bonds.
