June 23, 2024

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5 things to know before the stock market opens Wednesday, October 25

2 min read

Here are the most important news items that investors need to start their trading day:

1. Earnings focus

Markets turned positive Tuesday, with the Dow snapping a four-day losing streak and rising 200 points. The S&P 500 and Nasdaq Composite were also up for the day. Investors were focusing on the latest earnings reports, which are coming in fast. Around 150 S&P 500 companies are slated to report this week. They also continue to watch the Treasury yields closely. Meanwhile, there were some standouts. Verizon stock closed up more than 9%, marking the company’s best day in almost 15 years, while Spotify popped 10%. Follow live market updates.

2. Tech talk

Sundar Pichai, CEO of Alphabet, during the Google I/O Developers Conference in Mountain View, California, May 10, 2023.

David Paul Morris | Bloomberg | Getty Images

Tech companies are in full earnings mode. Alphabet reported an 11% revenue rise in the third quarter, but its cloud business missed analysts’ estimates by more than $20 million. That sent its stock nearly 7% lower in after-hours trading. Microsoft, meanwhile, saw its shares jump 6% in extended trading after the company said its net income grew 27%. Microsoft’s revenue rose almost 13% year over year in the quarter and it beat analysts’ estimates for both revenue and earnings per share. And Snap stock did its thing, leaping as much as 20% after hours, but the sentiment reversed and turned negative as investors digested news that some advertisers are pausing spending after the outbreak of the Israel-Hamas war.

3. Meta sued

Jaap Arriens | Nurphoto | Getty Images

Maybe there’s a reason we can’t stop doomscrolling. A bipartisan group of 42 attorneys general is suing Meta, alleging its social media platforms are addictive — and that they’re aimed at kids and teens. The attorneys say Facebook and Instagram are designed to keep young users hooked. They also say the company was aware of the negative effect things like notifications and the so-called infinite scroll…

2023-10-25 07:05:00

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