Elections, earnings and jobs report set to test US stocks
AI · First reported 30 Oct, 06:53 · Updated 10:54
Investors face a busy week as midterm elections, major company results and October employment data arrive amid concerns about AI-related spending and returns.
- Alphabet shares fell more than 12% after its quarterly results raised concerns about cash spending and revenue; investors are watching upcoming reports from Apple, AMD and Palantir.
- The US midterm elections could affect expectations for AI regulation and data-center development. The article says Democrats are widely predicted to win the House, while control of the Senate is less certain.
- The October jobs report is due next Friday. The article says third-quarter US economic growth was the fastest in a year, while an investor cited a lack of job growth as a gap in the positive growth picture.
Summary written by Lux AI from 2 articles
Key facts
- Alphabet shares
- Fell more than 12% on Thursday after its results.
- Third-quarter earnings
- With about half of the S&P 500 reporting, earnings were on pace to rise 31% for the period, according to LSEG IBES data cited in the article.
- October employment report
- Due next Friday.
- S&P 500
- Was up about 1% for October and more than 12% for the year, according to the article.
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