Here is what you need to know on Tuesday, October 25:
Equity markets remain on the bullish path but are treading cautiously. For the most part, earnings before the open continue the positive trend, but Microsoft (MSFT), Meta Platforms (META) and Alphabet (GOOGL) loom large after the close. Those companies will be the key event of the day.
Interest rates remain calm and slightly doveish still, which is helping equities. The combination of a dovish WSJ article, falling yields and strong earnings can push this rally further once big tech earnings are out of the way. Energy prices continue to fall in the face of warm weather, full EU storage levels and fears for global growth. Oil is lower to $83.75. The dollar is more or less as it was, remaining flat at 112 for the Dollar Index. Bitcoin trades at $19,300, and Gold is also lower at $1,641.
European markets are lower: Eurostoxx -0.2%, FTSE and Dax both -1%
US futures are lower: Nasdaq is flat, Dow and S&P both -0.4%
Wall Street top news (QQQ) (SPY)
New UK PM Sunak talks of difficult decisions.
Adidas (ADDYY) cuts ties with Ye (Kanye West), says move could cut profit by $250 million.
Coca-Cola (KO) beats and upgrades forecasts.
General Motors (GM) beats on earnings and misses slightly on revenue.
HSBC's new CFO causes the stock to fall.
Microsoft (MSFT) earnings out after the close.
Alphabet (GOOGL) is out after the close.
Meta Platforms (META): WhatsApp is having outage problems ahead of earnings after close.
Archer Daniels Midland (ADM) beats on estimates.
JetBlue (JBLU) misses on EPS, beats on revenue.
United Parcel Service (UPS) beats on EPS but misses on revenue, reaffirms full-year outlook.
General Electric (GE) cuts forecasts.
3M (MMM) cuts forecasts on strong dollar problems.
Centene (CNC) beats on earnings and raises outlook.
Haliburton (HAL) beats on revenue and earnings.
XEROX (XRX) is down on weak earnings.
SAP (SAP) up on strong earnings.
Logitech (LOGI) is up on strong earnings.
Upgrades and downgrades
Source: WSJ.com
Economic releases
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