Thursday, October 29, 2026

US PCE inflation report (Fed's preferred gauge)

The U.S. PCE inflation report, the Fed's preferred inflation gauge, was released at 8:30 AM ET on Thursday, October 29, according to the Bureau of Economic Analysis. The Dow, S&P 500 and Nasdaq opened lower on mixed earnings and inflation data.

Official release at the Bureau of Economic Analysis →

1. Pre-open outlook4:02 AM ET

   US stocks closed Wednesday's session with attention on the Federal Reserve's rate decision, which left rates unchanged. Microsoft shares jumped 4% as the company reported cloud growth driving its earnings and revenue, while Alphabet sank 10% after holding 2026 capex unchanged and expecting a significant increase in 2027. Treasury yields crept higher even as the Fed held rates steady, with the 10-year at 5.05% at Wednesday's close. Today's US PCE inflation report and the European Central Bank's monetary-policy decision are the next catalysts for markets.

2. Midday check12:31 PM ET

   US stocks opened lower on mixed earnings and inflation data, with Caterpillar and Alphabet cutting 650 points from the Dow. Alphabet fell 13%, putting it on course for its biggest ever post-earnings drop, while ServiceNow shares plunged 25% after its results revived AI disruption fears. The European Central Bank kept its key rate on hold at 2.5%, and third-quarter GDP rose a better-than-expected 3.4% as September inflation accelerated. Amazon reports after the bell, and today's PCE inflation report is the next watch item.

3. Closing wrap7:01 PM ET

   The Nasdaq closed sharply lower Thursday as Alphabet's slide weighed on the market after its earnings disappointment. Alphabet shares plunged nearly 13% for their worst day ever, losing $500 billion in value, while Intel's stock fell 21% on weak guidance and ServiceNow dropped 27% in its worst day on record. Amazon shares also fell after its earnings miss, with the company reporting third-quarter net sales of $201.9 billion. U.S. GDP grew a better-than-expected 3.4% in the third quarter. Looking ahead, Friday's session follows today's PCE inflation report release.

   Show the original generated text

   Stocks finished lower, with the Nasdaq closing sharply lower as Alphabet's slide weighed on the market after its earnings disappointment. Alphabet shares plunged nearly 13% for their worst day ever, losing $500 billion in value, while Intel's stock fell 21% on weak guidance and ServiceNow dropped 27% in its worst day on record. Amazon shares also fell after its earnings miss, with the company reporting third-quarter net sales of $201.9 billion. U.S. GDP grew a better-than-expected 3.4% in the third quarter. Looking ahead, Friday's session follows today's PCE inflation report release.

AI-generated as the day ran, from the data of each moment; corrections keep the original one click away. Informational only — not investment advice.

Scheduled and released

• US PCE inflation report (Fed's preferred gauge) — released; no reading captured

Headlines of the day

1. 4:02 AM ETMicrosoft stock jumps 4% as cloud growth drives earnings and revenue beat — CNBC Earnings
2. 4:02 AM ETAlphabet sinks 10% as it holds 2026 capex unchanged, expects significant increase in 2027 — CNBC Earnings
3. 4:02 AM ETHere are five key takeaways from the Fed rate decision and Warsh news conference — CNBC Economy
4. 4:02 AM ET10-year Treasury yield creeps higher even as Fed keeps rates the same — CNBC
5. 4:02 AM ETCoreWeave and other neocloud stocks drop after Microsoft capex comes in below expectations — CNBC
6. 4:02 AM ETLumentum’s stock pops as investors cheer a possible sale to Marvell — MarketWatch
7. 4:32 AM ETBessent says 'not necessarily' a mistake if the Fed hikes again — CNBC Economy
8. 5:02 AM ETDow, S&P 500 and Nasdaq all end higher after Fed leaves interest rates unchanged — MarketWatch
9. 5:02 AM ETDoorDash's deal to buy Instacart coming as early as Thursday morning, sources tell CNBC — CNBC
10. 5:02 AM ETThe major reason Microsoft’s stock is heading higher after earnings — MarketWatch
11. 5:31 AM ETAlphabet falls 10% in premarket, putting it on course for its biggest ever post-earnings drop — CNBC World
12. 6:01 AM ETWhy Alphabet’s stock could see its worst drop in years after the latest results — MarketWatch
13. 6:31 AM ETAnalysis: Warsh is learning to wield the Fed's power without showing his hand — CNBC Economy
14. 6:31 AM ETECB President Lagarde to leave post early — MarketWatch
15. 7:01 AM ETSamsung Electronics shares slid despite record profit in the third-quarter — CNBC Earnings
16. 7:01 AM ETServiceNow stock is on track for its largest drop on record. But JPMorgan sees a bright spot. — MarketWatch
17. 9:02 AM ETAlphabet earnings miss reflects first real sign that AI is taking a bite out of search — CNBC
18. 9:02 AM ETGDP comes in stronger than expected as inflation worsens — MarketWatch
19. 9:02 AM ETInflation surges, PCE shows. Fed pause on rate hikes unlikely to last long with prices still rising. — MarketWatch
20. 9:02 AM ETEli Lilly blows past estimates, hikes sales outlook as Zepbound and Mounjaro demand surge again — CNBC Earnings
21. 9:32 AM ETEuropean Central Bank keeps key interest rate on hold at 2.5% — CNBC World
22. 9:32 AM ETThird-quarter U.S. GDP increases a better-than-expected 3.4% as September inflation accelerates — CNBC World
23. 10:01 AM ETDow, S&P 500, Nasdaq open lower on mixed earnings and inflation data — MarketWatch
24. 10:01 AM ETAI build-out hits snag as Google and Microsoft put off raising capex forecasts — CNBC Earnings
25. 10:01 AM ETCaterpillar, Alphabet stocks cut 650 points from the Dow — MarketWatch
26. 11:02 AM ETServiceNow shares plunge 24% after earnings revive AI disruption fears — CNBC Earnings
27. 3:04 PM ETNasdaq leads stocks lower in final hour as Alphabet’s slide weighs on the market — MarketWatch
28. 4:32 PM ETIntel stock plunges 20% as chipmaker blames PC slowdown for weak guidance — CNBC Earnings
29. 4:32 PM ETAmazon misses on earnings and holds capex steady, adding to AI spending jitters — CNBC Earnings
30. 4:32 PM ETNasdaq closes sharply lower as Alphabet's slide weighs down the stock market — MarketWatch
31. 4:32 PM ETAmazon earnings are out — and the stock is falling. Here's what to know. — MarketWatch
32. 5:01 PM ETIntel's stock sinks over 15% as PC slowdown drives disappointing outlook — live — MarketWatch
33. 5:01 PM ETAmazon's earnings miss, mounting AI spending are dragging down the stock — live — MarketWatch
34. 5:31 PM ETReddit shares sink on weak sales guidance and plans login requirement test as Google search traffic shrinks — CNBC Earnings
35. 6:31 PM ETAmazon AWS posts 39% revenue growth as cloud rivals also accelerate — CNBC Earnings

**Mid-Week Briefing** The week so far has been defined by the Fed's decision and a sharp tech-led selloff. On Wednesday, October 28, the Federal Reserve kept its policy-rate target at 3.75%–4.00% on a 10-2 vote. Monday's session closed with broad gains as Anthropic's IPO filing boosted technology and AI names. Thursday also brought the US PCE inflation report, released as the Fed's preferred gauge. Friday's session follows today's PCE release.

AI-generated at that day's close, from the week's data to that point. Informational only — not investment advice.