Wall St set for muted open as investors weigh earnings, data; Alphabet jumps
Alphabet leaps as AI investments boost cloud sales
Eli Lilly misses estimates for weight-loss, diabetes drugs
AMD falls, Reddit jumps after results
ADP jobs data beats, Q3 GDP advance numbers miss estimates
Futures: Dow down 0.20%, S&P 500 and Nasdaq flat
Updated at 8:51 a.m. ET/1251 GMT
By Lisa Pauline Mattackal
Oct 30 (Reuters) - U.S. stock indexes were set for a subdued open on Wednesday, as investors assessed mixed corporate results and parsed crucial data that showed the economy had maintained a steady pace of third-quarter growth.
Shares of Alphabet GOOGL.O, the first of the five "Magnificent Seven" megacap stocks due to report results this week, leapt 6.1% in premarket trading after the company beat expectations for third-quarter revenue and profit on strength in its cloud business and YouTube ad sales.
Semiconductor company Advanced Micro Devices AMD.O dropped 7.6% after its forecasts for fourth-quarter revenue and AI chip sales disappointed investors.
Other chipmakers also slipped, with Nvidia NVDA.O down 0.9% and Intel INTC.O losing 1%.
The tech-heavy Nasdaq Composite .IXIC closed at an all-time high on Tuesday.
The U.S. gross domestic product increased at a 2.8% annualized rate, according to the Commerce Department's advance estimate of third-quarter GDP, slightly below economists' forecast of 3.0% growth.
"For the market, the stronger pace of GDP being paced by personal consumption doesn't really make the case for the Fed cutting at all," said Marc Ostwald, chief economist and global strategist at ADM Investor Services International.
The neck-and-neck race between U.S. presidential candidates Kamala Harris and Donald Trump was also at the top of investors' minds ahead of the Nov. 5 election.
"We may have some revisions when we go forward, but all that really matters is the election next week, because that could be quite pivotal in the direction that the U.S. takes above all," Ostwald said.
A separate report showed U.S. private payrolls growth surged by a higher-than-expected 233,000 jobs in October, despite fears of temporary disruptions from hurricanes and strikes.
Tuesday's data showed U.S. job openings dropped to more than a three-and-a-half-year low in September, leading traders to increase bets on a 25-basis-point rate cut in the Federal Reserve's November andDecember meetings. Economists polled by Reuters echoed the view.
Shares of some othermegacaps gained ground, with Microsoft MSFT.O and Meta Platforms META.O rising 1.8% each. Both companies are scheduled to report results after the bell.
Given the significant role they played in Wall Street's rally this year, megacaps will be the most closely watched in an earnings-packed week. Their results are expected to provide insight on whether heavy AI investment is translating into better company performances.
Dow e-minis 1YMcv1 were down 88 points, or 0.21%, S&P 500 e-minis EScv1 were down 0.75 points, or 0.01%, and Nasdaq 100 e-minis NQcv1 were up 6.75 points, or 0.03%.
Drugmaker Eli Lilly LLY.N slumped 10.7% after missing sales estimates for its popular weight-loss and diabetes drugs due to inventory changes.
Reddit RDDT.N soared 22.3% after reporting quarterly profit for the first time since going public, while Chipotle Mexican Grill CMG.N lost 2.7% after it missed expectations for same-store sales growth.
Alphabet's cloud revenue growth accelerates on AI boom https://reut.rs/4hpeEwE
The Magnificent Seven https://reut.rs/4hpeHIQ
Reporting by Lisa Mattackal, Sruthi Shankar and Medha Singh in Bengaluru; Editing by Pooja Desai
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
