Google-parent Alphabet (GOOG, GOOGL) and chip giant Advanced Micro Devices (AMD) both reported their respective earnings results after Tuesday’s market close. The Big Tech earnings train continues with Magnificent Seven members Microsoft (MSFT) and Meta Platforms (META) to come out with results after the bell today.
Eli Lilly (LLY) shares tumble in pre-market trading after missing third quarter earnings estimates and cutting its guidance as sales of GLP-1 weight-loss drugs fall short of Wall Street expectations.
Initial readings on US GDP (gross domestic product) see expansions of 2.8% in the third quarter, just shy of economist estimates for a 2.9% quarter-over-quarter rise.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Luke Carberry Mogan.
Video Transcript
It’s not in here in New York City on this Wednesday, October 30th.
Welcome to Yahoo Finances like show the morning Brief.
I’m John Smith alongside Brad Smith.
And let’s get you the three things that you need to know today.
First up big tech earnings, they are under way.
Folks with alphabet shares jumping is A I bets pay off here company seeing growth in its search and cloud computing businesses.
Meanwhile shares fell after its outlook for the current quarter came in below Wall Street expectations.
However, free market you’re holding on to some gains there.
Investors now looking ahead to the next batch of tech earnings after the Bell with Microsoft and meta reporting results eli shares tumbling of this morning, the drug maker lowering its full year guidance after sales of its blockbuster weight loss drug fell short of estimates.
The company previously raised its full year guidance twice this year but is now trimming 600 million off the top end of expectations said it inventory issues that wholesalers for salesman and the first estimate of third quarter GDP data out this morning showing the US economy expanded at a robust 2.8 percent pace in the third quarter, consumer spending which accounts for the largest share of economic activity that advanced 3.7% the most since early 2023.
And A P private payrolls offering the latest view into the labor market ahead of the October jobs reports.
This Friday, the numbers surging past estimates showing 233,000 jobs added in October.
The estimate was for 100 11,000.
