Negative Reaction To Microsoft, Meta Results May Weigh On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Thursday, 31 October 2024 09:09:40 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( US Market The major U.S. index futures are currently pointing to a lower open on Thursday, with stocks likely to see further downside after coming under pressure late in the previous session. A negative reaction to earnings news from tech giants Microsoft (MSFT) and Meta Platforms (META) is likely to weigh on Wall Street early in the session. Shares of Microsoft are tumbling by 3.6 percent in pre-market trading after the company reported better than expected fiscal first quarter results but provided disappointing revenue guidance for the current quarter. Facebook parent Meta is also seeing notable pre-market weakness after reporting third quarter earnings that beat estimates but weaker than expected user growth. Meta also forecast an increase in capital spending due to AI investments. The futures remained firmly negative after the Commerce Department released a report on personal income and spending that includes the Federal Reserve?s preferred inflation readings. The report said the personal consumption expenditures (PCE) price index rose by 0.2 percent in September after inching up by 0.1 percent in August. The modest increase matched economist estimates. The annual rate of growth by the PCE price index slowed to 2.1 percent in Septembe... [Read More]( --------------------------------------------------------------- Do you day trade? Trader Alerts streams stocks reaching new highs and lows as well as stocks breaking out of previous volume highs as they happen. It's a powerful tool for day trading ideas. [Learn More / Upgrade]( --------------------------------------------------------------- U.S. Economic Reports The Commerce Department on Thursday released its report on U.S. personal income and spending in the month of September, which includes the Federal Reserve?s preferred readings on consumer price inflation. The report said the personal consumption expenditures (PCE) price index rose by 0.2 percent in September after inching up by 0.1 percent in August. The modest increase matched economist estimates. The annual rate of growth by the PCE price index slowed to 2.1 percent in September from 2.3 percent in August, which was also in line with expectations. The Commerce Department also said the co... [Read More]( --------------------------------------------------------------- Europe European stocks are mostly lower on Thursday, as investors assess the latest batch of earnings and the closely watched preliminary euro zone inflation reading. Eurozone inflation accelerated more than expected in October, the flash estimate from Eurostat showed on Thursday. The harmonized index of consumer prices posted an annual growth of 2.0 percent. Inflation was forecast to rise to 1.9 percent from 1.7 percent in September. Core inflation that excludes energy, food... [Read More]( --------------------------------------------------------------- [Sell every Stock except ONE]( Markets are down... But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE. He lives financially free trading this One Stock Once per month... [Ticker Revealed.]( --------------------------------------------------------------- Asia Asian stocks ended broadly lower on Thursday, as investors reacted to mixed earnings from U.S. technology companies and signals from the Bank of Japan that further rate increases are still on the horizon. Chinese markets bucked the weak regional trend ahead of a highly anticipated top legislative bond meeting scheduled in Beijing on November 4-8, with investors awaiting details of stimulus measures. The yen recovered from a nearly three-month low against the dollar as the Bank of Japan kept rates steady and warned of "high uncertainties" following the ruling party's worst election result in 15 years. Gold prices climbed to a record high before retreating as investors awaited U.S. non-farm payrolls figures, infl... [Read More]( --------------------------------------------------------------- Commodities Crude oil futures are rising $0.59 to $69.20 a barrel after jumping $1.40 to $68.61 a barrel on Wednesday. Meanwhile, a... [Read More]( --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49