Newsquawk

🇺🇸US pre-market movers🇺🇸 ES -1.1% NQ -2.6% RTY -0.5% $INTC -25%: Rev. & FCF light w/ dismal next Q view, driven by prolonged PC market weakness & memory shortages $SNDK -9%: Weaker than exp. op. cash flow & investor concerns over the sustainability of AI spending outweighed solid earnings, guidance & stock split $AMZN -6.5%: Top & bottom line missed as did net income w/ higher than exp. AI infra spending & deteriorating FCF $DXC -13%: Weak outlook & mgmt. warned of a prolonged recovery in its core business $RBLX -17%: Rev. short, light Q4 bookings view & declining user engagement following stricter child-safety measures $PINS -8%: EPS & rev. short as was Q4 outlook $RDDT -21%: Q4 outlook short $MDLZ +6.5%: EPS beat $GD +3.5%: Top & bottom line surpassed Wall St. exp. $SYK -11%: EPS & rev. missed w/ weak FY profit outlook

Morning all! - US futures slumped after-hours on weak results from Amazon (-7.3%) and Intel (-23%), while APAC stocks were mixed and the KOSPI triggered a sidecar. - BoJ kept rates unchanged, as expected, in an 8-1 vote with Takata dissenting in favour of a hike. - Reports continued to point to potential US strikes on Iran after the midterms, while the Houthis said they targeted Saudi oil facilities; crude futures gained. - DXY was little changed after weakening on lower yields; EUR/USD held on to gains after the ECB's hawkish hold, with source reports indicating policymakers are prepared to raise rates in December. - Looking ahead, highlights include French GDP (Q3), French Flash CPI (Oct), Spanish Flash CPI (Oct), German GDP (Q3), German State/National CPI (Oct), EZ GDP (Q3), Italian Flash CPI (Oct), Canadian GDP (Aug), CBRT Minutes (Oct), EU-Canada Summit (29-30 Oct). Speakers include BoJ Governor Ueda, ECB’s Lane, Fed’s Musalem, Daly, Hammack & Cook. Earnings from Exxon Mobil, Chevron, AbbVie, Colgate-Palmolive, AstraZeneca, BP, NatWest & Sanofi.

Asia-Pac stocks are mostly lower following further tech selling owing to weak earnings from Amazon and Intel, while participants digest a slew of data at month-end and await the BoJ: ASX 200 (+0.8%), Nikkei 225 (-1.3%), KOSPI (-3.5%)

🇺🇸US pre-market movers🇺🇸 ES -0.4% NQ -1.3% RTY -0.2% $GOOG -11.3%: Weak report; profit & rev. light & worsening negative FCF $MSFT +1%: EPS, rev., & op. income topped w/ better than exp. guidance $CRWV -7% $NBIS -7% $IREN -5.5%: MSFT's lower-than-exp. capex points to infrastructure partners taking longer to deliver capacity $FTNT -28%: Product rev. short of exp. w/ FY services guide cut & next Q rev. guide way short of bull exp. $NOW -19%: Underwhelming subs. rev. guide w/ a bookings & profit miss $KLAC +2.7%: Headline metrics topped w/ strong next Q guidance $CTSH -10.5%: Weak next Q rev. outlook $TMUS +3.2%: Profit, rev. & postpaid subs. additions beat alongside strong FY guidance $EBAY +6%: Solid headline nos. & GMV, alongside upbeat holiday-Q outlook $NCLH +12%: Top & bottom line beat w/ upbeat FY profit view $CAT -11%: Top line shy of exp. $MA +3.2%: Q3 results beat $LLY +4.5%: Headline metrics topped w/ strong drug sales breakdown & lifted FY rev. outlook $MRK +2.3%: Tops Q3 exp. as Keytruda & Gardasil outperform $LITE +6%: $MRVL -12% in advanced talks to acquire Co.

Morning all! - The Fed kept rates unchanged, as expected, with hawkish dissents from Hammack and Cook; Chair Warsh's press conference lacked hawkish surprises, weighing on the USD and short-end yields. - APAC stocks were mixed as the region digested the FOMC and big tech earnings; KOSPI underperformed as Samsung Electronics' results failed to meet lofty expectations. - US equity futures were mixed, with NQ lagging as Alphabet slumped after missing on top and bottom lines, while Microsoft rallied after-hours. - European equity futures indicate a flat cash market open with Euro Stoxx 50 futures up 0.1%. - Crude futures declined amid mediation hopes, after reports of a lot of back and forth between Iran and the US via mediators and US VP Vance's outreach to Iranian hard-liner Rezaei. - Looking ahead, highlights include Swedish GDP (Q3/Sep), EU Economic Sentiment (Oct), US GDP (Q3), PCE (Sep), Jobless Claims (w/e Oct/24), Personal Income (Sep), Atlanta Fed GDPNow, Japanese Tokyo CPI (Oct), Japanese Retail Sales (Sep), ECB Policy Announcement (Oct), EU-Canada summit (29-30 Oct). Speakers include ECB President Lagarde & Cipollone. Supply from Italy, the UK and the US. Earnings from Caterpillar, Eli Lilly, Mastercard, Bristol-Myers Squibb, Intel, Amazon, Sandisk, Starbucks, Shell, Lloyds, Glencore, Schneider Electric, TotalEnergies, & Air Liquide.

Asia-Pac stocks begin mostly higher, albeit with gains capped as the region reflects on recent key events, including the FOMC rate decision and big tech earnings: ASX 200 (+0.8%), Nikkei 225 (+0.4%), KOSPI (+0.3%)

FOMC STATEMENT COMPARE:

🇺🇸US pre-market movers🇺🇸 ES +0.2% NQ +0.4% RTY -0.1% $SKHY +7.5%: EPS & rev. topped supported by strong AI-driven memory demand, higher chip prices & substantial shareholder return plan $NXPI -8.5%: Next Q outlook underwhelmed investors $ENPH -18.5%: Headline metrics missed w/ dismal next Q rev. guidance $APH +7.5%: Top & bottom line beat w/ strong Q4 view $GOOG +1.5%: OpenAI plans to purchase AI chips from Google $HOOD -6%: Rev. marginally light & transaction-based rev. fell short $PPG +5%: EPS, rev. beat & raised midpoint of FY profit view $VRT +15.5%: Stellar Q report & FY outlook $GEV +2%: Q nos. beat Wall St. exp. alongside lifting FY numbers $GEHC +10%: Solid report as major metrics impressed & lifted 2026 outlook $BSX -12%: Weak next Q view & cut FY figures $ETSY +6.6%: EPS & rev. surpassed Wall St. exp. $WEN +15%: Trian offering to buy Co. for $1.4bln or $7.35/shr in cash; WEN closed Tues. at $6.14/shr $V -1.5%: Higher-than-exp. client incentives & potentially underwhelming EPS outlook overshadowed stronger-than-exp. results

Morning all! - The US told several Gulf Arab countries to be prepared for a short, intense military campaign after the US midterm elections, according to people briefed on the conversations cited by the WSJ. - NZD/USD slumped following the surprise decision by the RBNZ to keep rates unchanged at 2.75% in a narrow 4-3 vote split. - APAC stocks were mostly higher as the region followed suit to the gains on Wall Street; European equity futures indicate a subdued cash market open. - Crude futures rebounded overnight following yesterday's choppy trade; 10yr UST futures mildly retreated as yields edged higher in tandem with oil prices. - Looking ahead, highlights include German GfK Consumer Confidence (Nov), US Atlanta Fed GDPNow, Fed Policy Announcement (Oct), BoC Policy Announcement (Oct), UK Autumn Budget. Speakers include BoC’s Macklem & Fed Chair Warsh. Supply from Germany & the US. Earnings from GE Vernova, Phillips 66, Microsoft, Alphabet, ServiceNow, FedEx, T-Mobile, Ford, UBS, Airbus, Unilever & GSK.

Asia-Pac stocks follow suit to the gains on Wall St, where the Nasdaq outperformed as tech stocks continued to shrug off recent AI-related concerns, while participants digest SK Hynix earnings and await the looming central bank decisions: ASX 200 (+0.9%), Nikkei 225 (+1.3%), KOSPI (+2.8%)

🇺🇸US pre-market movers🇺🇸 ES +0.3% NQ +0.4% RTY +0.4% $CDNS +1.5%: Q3 numbers beat & raised FY26 outlook $GLW +1.5%: Solid report; headline numbers topped as did next Q guidance $SOFI +10%: Q nos. & FY26 guidance impressed $NVDA said it plans to invest $3bln in $META's equity offering $PYPL -1.7%: Top line missed $SPGI +4%: EPS & rev. topped alongside lifting FY view $WHR -6%: Dismal report; surprise loss per shr., rev. missed & cut FY outlook $RCL +4.5%: Profit beat & lifted FY view $SHW -4.7%: Bottom line underwhelm & midpoint of FY outlook fell short of Wall St. exp. $UPS +1.5%: Q metrics surpassed & lifted FY guidance $JCI +4%: Strong earnings w/ stellar outlook $BA +0.8%: Deeper loss per shr. than exp, but rev. & adj. FCF topped $AVGO +2.4%: Upgraded at DA Davidson $MRNA -3%: Downgraded at William Blair

Morning all! - Iranian Deputy Security Chief Bagheri Kani said Iran is open to a shorter US proposal timeline if conditions are met, according to state TV. - APAC stocks were mixed, with tech stocks supported by the rebound stateside; European equity futures indicate a marginally lower cash open. - DXY took a breather, GBP/USD lacked direction ahead of Wednesday's UK Budget, and USD/JPY stayed afloat. - UST futures edged higher ahead of the FOMC, tech earnings and PCE data this week, while Bund futures rebounded ahead of German supply. - Crude futures pulled back amid limited fresh catalysts and no major geopolitical escalation, while spot gold traded sideways above USD 4,000/oz. - Looking ahead, highlights include US ADP Employment Change Weekly, Durable Goods (Sep), Richmond Fed Index (Oct), Dallas Fed Index (Oct), Atlanta Fed GDPNow, Israeli legislative election for the Knesset. Supply from the UK, Italy, Germany & the US. Earnings from SoFi, Coca-Cola, UPS, Corning, PayPal, Boeing, S&P Global, Robinhood, Seagate, Visa, SK Hynix.

Asia-Pac stocks begin mixed with Nikkei 225 and KOSPI surging following the tech outperformance stateside as the sector recovers from the recent AI-led sell-off, and with Anthropic filing for an IPO: ASX 200 (-0.3%), Nikkei 225 (+1.5%), KOSPI (+3.7%)

🇺🇸US pre-market movers🇺🇸 ES +0.2% NQ +0.3% RTY +0.2% $META +1.5%: Plans up to $95bln stock offering to fuel its huge AI infrastructure spending $VZ +0.3%: EPS & postpaid phone net adds. beat w/ strong FY profit view; note, rev. missed $RRC +14.2%: $EQT -4.2% agrees to acquire Co. in an all-stock deal, valuing combined Co. at over $50bln $FICO -10%: Downgraded at Wells Fargo Brazil ADRs hit hard after left-wing Lula unexpectedly wins the election; $BAK -33% $ITUB -26% $PBR -22% $VALE -4.5%