This Week
AI stocks experienced a sell-off as earnings beats from mega-cap companies SPCX, TSLA, and META were overshadowed by investor concerns over costs. Despite strong earnings, analysts project that the Nasdaq-100® could see a 45% annual growth in Q3, yet it ended the week down 1%. Meanwhile, U.S. oil prices held steady above $100 per barrel amid ongoing tensions in the Iran conflict. Safe-haven demand has led to a decline in 10-year Treasury yields, which dropped nearly 10 basis points to 5.0%.
Next Week
Key events to watch include the Federal Reserve’s rate decision on Wednesday, along with Q3 earnings reports from Google (GOOG) and Microsoft (MSFT). On Thursday, real GDP growth for Q3, PCE inflation and spending data for September, weekly jobless claims, and Amazon’s (AMZN) Q3 earnings are scheduled. The week will conclude on Friday with the Employment Cost Index for Q3.
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