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Marriott International $MAR reported stronger-than-expected quarterly earnings as travel demand remained resilient. • EPS surprise: +5.59% • Revenue surprise: -0.54% • EPS growth: +22.3% YoY • Revenue growth: +8.01% YoY Marriott also raised its full-year EPS guidance to a midpoint of $12.11, approximately 3.2% above estimates.

Palantir $PLTR reported strong quarterly results, with revenue surging 95.8% and EPS climbing 109% year over year. • EPS surprise: +7.32% • Revenue surprise: +6.54% • Full-year revenue guidance: $8.53 billion, above the $8.21 billion consensus • Q4 revenue outlook: $2.65 billion, above expectations of $2.46 billion Commercial revenue also surpassed government revenue for the first time.

Apple $AAPL beat quarterly earnings and revenue expectations, but its outlook for the next quarter fell short of estimates. • EPS surprise: +3.54% • Revenue surprise: +1.35% • EPS growth: +10.8% YoY • Revenue growth: +11.7% YoY iPhone revenue climbed 17% to $57.58 billion, but Apple projected next-quarter revenue growth of 7%–10%, below the 11.4% consensus.

Corporate earnings growth is expected to remain strong despite recent market volatility. Current S&P 500 earnings growth forecasts: • Q3 2026: +26.5% YoY • Q4 2026: +28.4% YoY While AI spending concerns have pressured technology stocks, broader earnings expectations remain positive.

What do you think about Big Tech's heavy investment in AI?

Big Tech's AI spending is facing renewed scrutiny following earnings from $GOOGL, $AMZN and $META. All three reported double-digit revenue growth, but rising capital expenditures and pressure on free cash flow have raised concerns about the cost of AI infrastructure. Investors are increasingly looking for evidence that massive AI investments can deliver sustainable profits.

What will matter most in Apple's earnings report?

Apple $AAPL reports earnings after the closing bell today, with investors watching early iPhone 18 sales and demand for its Duo foldable iPhone. Wall Street expectations: • Consensus EPS: $1.98 • Whisper EPS: $2.00 Unlike some of its Big Tech peers, Apple has not been a major spender on AI infrastructure.

The Federal Reserve is changing how it conducts future policy meetings. Beginning in 2027, one of the Fed's eight annual meetings will focus exclusively on monetary policy strategy, with no interest rate vote or policy statement. In 2028, the Fed plans to dedicate two meetings to strategy discussions, leaving six meetings for rate-setting decisions. Fed Chair Kevin Warsh said the changes are intended to create more room for longer-term policy discussions.

Middle East oilfield activity is beginning to rebound, but renewed conflict and operational challenges could threaten the recovery. "Geopolitical uncertainty is the biggest risk, ⁠particularly further ​escalation in the Middle East or disruption around the Strait ​of Hormuz. While depleted inventories support long-term demand, renewed turmoil could delay projects," said Jeremy Mullin, stock strategist at Zacks Investment ​Research. Reporting by @Arunimakumar94 via @Reuters. reuters.com/business/energy/…

Microsoft $MSFT beat Q3 earnings and revenue expectations, supported by strong growth in its cloud business. • EPS surprise: +3.82% • Revenue surprise: +1.88% • EPS growth: +18.40% YoY • Revenue growth: +18.81% YoY Microsoft guided next-quarter revenue to approximately $96.6 billion, above the $95.6 billion consensus. Despite $45.2 billion in capital spending and related outlays, the company remained free-cash-flow positive.

Alphabet $GOOGL reported mixed Q3 results, with revenue growing 27.14% year over year but earnings declining 26.13%. • EPS surprise: -27.89% • Revenue surprise: -0.53% • Free cash flow: -$9.07 billion • Capital expenditures: Approximately $51.4 billion The company also expects capital spending to increase significantly next year, renewing concerns about the cost of AI infrastructure.

What do you think the Fed will do in December?

The Federal Reserve held interest rates steady Wednesday in a 10–2 vote. Two officials favored a 25-basis-point increase, while the majority voted to maintain current rates. The Fed also upgraded its assessment of economic activity from “solid” to “strong,” signaling continued confidence in the economy. With the next meeting scheduled for December 9, investors will be watching incoming inflation and employment data closely.