Stock market today: Dow, S&P 500, Nasdaq fall as Alphabet stock sell-off drags on tech, AI jitters return
Economic data: PCE price index, month-on-month, September (+0.5% expected, +0.3% prior); Core PCE price index, month-on-month, September (+0.3% expected, +0.2% prior); PCE price index, year-on-year, September (+3.6% expected, +3.4% prior); Core PCE price index, year-on-year, September (+3.1% expected, +3% prior); Personal income, September (+0.3% expected, +0.2% prior); Personal spending, September (+0.6% expected, +0.9% prior); Real personal spending, September (+0.1% expected, +0.6% prior); Initial jobless claims, week ended Oct. 24 (199,00 expected, 194,000 prior); Continuing claims, week ended Oct. 17 (1.782 million prior); GDP annualized, quarter-on-quarter, third quarter annualized (+3.2% expected, +2.2% prior)
Earnings calendar: Amazon.com (AMZN), Eli Lilly (LLY), Mastercard (MA), Intel (INTC), Merck (MRK), Caterpillar (CAT), Shell (SHEL), Linde (LIN), TotalEnergies (TTE), Gilead Sciences (GILD), Sandisk (SNDK), Anheuser-Busch inBev (BUD), Bristol-Myers Squibb (BMY), Altria Group (MO), Stryker Corporation (SYK), Starbucks (SBUX), Trane Technologies (TT), Howmet Aerospace (HWM), Digital Realty Trust (DLR), Strategy (MSTR), Cheniere Energy (LNG), Cenovus Energy (CVE), Monolithic Power Systems (MPWR), Vale S.A. (VALE), Ambev S.A. (ABEV), Xcel Energy (XEL), L3Harris Technologies (LHX), Carrier Global (CARR), Coinbase Global (COIN), D.R. Horton (DHI), Roblox (RBLX)
Catch up on some top stories you might have missed overnight:
Intel to report Q3 earnings as chip stocks continue to rebound
Google bets on AI search ads to revive slowing ad growth
Samsung keeps shattering profit records as AI boom lifts chip demand
Asian shares fall as Alphabet earnings miss drags Wall St futures lower
Cash is king as investors draw new battle lines in AI spending boom