U.S. Stock Market Developments

[Aron]

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Nasdaq-100 falls 1.3% and S&P 500 declines 0.5% following Alphabet’s earnings miss, despite strong GDP growth and in-line inflation data

Q3 2026 Meta Platforms Earnings

I=6 Alphabet shares fell 10% after the company missed both revenue and earnings expectations Revenue rose 25% y/y to $127.58 billion, below analysts’ estimate of $128.22 billion, while adjusted EPS was $2.67 versus $3.02 expected. Alphabet’s search revenue rose 12% to $63.35 billion, below $64.96 estimate. Cloud revenue more than doubled to $30.7 billion, exceeding analysts’ estimate of $28.7 billion. The company maintained its 2026 capex guidance of $195-$205 billion but said they…

Gross Domestic Product

I=6 U.S. Gross Domestic Product (GDP) rose 3.4% in Q3 2026, above 3.2% estimate Gross domestic product rose 3.4% annualized pace in Q3 2026, above 3.2% estimate and above 2.2% in Q2 2026. [image]

Personal Consumption Expenditure (PCE) Price Index

I=6 Fed’s favorite inflation gauge (core PCE) was in line with the estimates in September PCE rose 0.5% m/m and 3.6% y/y in September, both in line with the estimates. Core PCE rose 0.3% m/m and 3.1% y/y, both in line with the estimates.