Big tech earnings and the Fed test a shaky AI rally
US stocks ended last week lower, with the Nasdaq down 0.7%, before results from Alphabet, Microsoft and Amazon and a Federal Reserve decision on Wednesday.
In the Daily Brief of 26 October 2026
Filed under Markets, AI industry
The S&P 500 fell 0.5% on Friday to 7,623.68 and the Dow lost 1.2% to 52,215.16, while the Nasdaq slipped 0.2% to 25,955.34, according to the Associated Press. Over the week the S&P 500 lost 0.5% and the Nasdaq 0.7%, while the Dow gained 0.4%. The 10-year Treasury yield rose to 4.99%.
Alphabet and Microsoft report on Wednesday and Amazon on Thursday, among about a third of S&P 500 companies reporting this week, Reuters said. Investors will watch their guidance on capital spending, which the hyperscalers are expected to bring to about $800bn this year. Third-quarter S&P 500 earnings are on course to rise more than 32% from a year earlier, according to LSEG data, after Thursday brought the Nasdaq’s biggest one-day fall since June.