Today's Top Stories
6 stories
Earnings
Oracle Issues Optimistic 2030 Revenue Forecast, Easing Debt Concerns
Oracle shares jumped 11% after the software company projected $225 billion in revenue for fiscal 2030 and stated it would limit additional funding to $20 billion split equally between debt and equity.
CNBC ↗Central Banks
Federal Reserve Holds Benchmark Rate Steady as Chair Warsh Cites Incoming Data
The Federal Reserve left interest rates unchanged at its October meeting, with Chairman Kevin Warsh explaining during a press conference that the central bank is awaiting an "information rich" period before making its next move.
MarketWatch ↗Energy
Oil Prices Recover Further on Middle East Escalation Risks
Oil futures regained ground, with WTI rising to $102.46 a barrel, as traders reacted to ongoing geopolitical tensions and worries over potential U.S. military responses involving Iran.
WSJ ↗
Deals
Nelson Peltz’s Trian Launches $1.4 Billion Take-Private Bid for Wendy's
Trian Fund Management offered $1.4 billion to acquire Wendy's, noting that the fast-food chain requires significant capital investments and restructuring after its shares dropped roughly 70% over five years.
WSJ ↗
Deals
Weil Gotshal Leaders Confirm Plan to Wind Down Historic Law Firm
Bankruptcy law pioneer Weil Gotshal & Manges is winding down operations following a series of high-profile partner defections and failed merger discussions.
WSJ ↗
Earnings
GE Vernova Beats Estimates and Raises Guidance Despite Post-Earnings Dip
GE Vernova reported a 27% jump in third-quarter revenue to $12.64 billion and increased its full-year outlook for sales, EBITDA, and free cash flow, even though its shares dipped following commentary on 2027 order moderation.
CNBC ↗Markets at a Glance
vs. previous closeLevels as of 4:06 PM EDT. Source: Yahoo Finance; may be delayed.
The Market Today
U.S. markets traded moderately higher on Wednesday, supported by strong corporate earnings and a widely anticipated rate hold from the Federal Reserve. Benchmark Treasury yields edged up as investors digested commentary from Fed Chair Kevin Warsh regarding upcoming macroeconomic data. Meanwhile, WTI crude futures advanced past $102 a barrel amid lingering supply and geopolitical concerns.
Since the Open
vs. this morning's brief- Equity indices pushed slightly higher from morning levels, with the S&P 500 adding 0.09% to 7,743.98 and the Nasdaq rising 0.27% to 26,549.85.
- The 10-Year Treasury yield climbed an additional 5 basis points to 5.04% following the afternoon interest rate decision and press conference.
- WTI crude extended its gains, rising another 0.68% to $102.46 a barrel.
- Major tech names saw some afternoon pressure, with Nvidia and Meta slipping further from their morning marks while Bitcoin rallied 1.32% to $81,526.07.
Your Watchlist
vs. previous close- Apple (AAPL): Shares declined 0.94% today following reports that Russia added the company to a state surveillance registry, even as Apple unveiled its first touch-screen MacBook Pro. Bloomberg
- Microsoft (MSFT): Shares slipped 0.06% ahead of its after-the-bell earnings report, where the company subsequently beat revenue and earnings expectations driven by strong cloud growth. CNBC
- Nvidia (NVDA): Shares fell 1.17% today amid reports that the U.S. DOJ is inquiring into the company's purchase of Hugging Face. Reuters
- Amazon (AMZN): Shares gained 0.59% today following news that the company is cutting additional jobs in its devices unit following a wave of product releases. Reuters
- Alphabet (GOOGL): Shares rose 1.34% today following the strong market debut of Jio Platforms, a venture backed by both Meta and Google. CNBC
- Meta (META): Shares fell 1.24% today as the company faces major legal challenges concerning youth social media addiction claims alongside peer Snap. Reuters
- Tesla (TSLA): Shares dropped 0.80% today amid ongoing discussion of a potential formal merger with SpaceX. WSJ
- JPMorgan Chase (JPM): Shares climbed 1.10% today following reports that Anthropic selected the bank to lead its upcoming retail stock offering. Bloomberg
- Exxon Mobil (XOM): Shares gained 1.20% today after the first shipment of Venezuelan crude from a new U.S. deal arrived in Texas to be processed by Exxon and Citgo. Reuters
Tomorrow's Calendar
Thursday, October 29 · times ETEconomic data & events
Earnings
After today's close
Thursday, October 29
High-impact release. Earnings shown for large companies ($10B+) and your watchlist. Sources: Forex Factory, Nasdaq. Schedules can change.
Sectors & Movers
Enterprise software provider Oracle surged 11% following an optimistic 2030 revenue projection and plans to limit AI-related debt and equity issuance. Meanwhile, GE Vernova shares slipped despite reporting a stronger-than-expected top and bottom line and raising full-year guidance, as investors digested commentary regarding potential order moderation in 2027.
Macro & Policy
The Federal Open Market Committee left benchmark interest rates unchanged, with Chairman Kevin Warsh emphasizing that policymakers intend to evaluate incoming data before adjusting policy further. Bond yields diverged across maturities as market participants recalibrated expectations for a potential rate hike at the December meeting.
What to Watch
- Advance GDP q/q (Thursday, 8:30 AM ET): Forecasted at 3.2% compared to the previous 1.5%.
- Core PCE Price Index m/m (Thursday, 8:30 AM ET): Forecasted at 0.3% following the previous print of 0.2%.
- Unemployment Claims (Thursday, 8:30 AM ET): Expected at 198K versus 194K previously.
- Corporate Earnings: Watch for upcoming results from major entities including Eli Lilly, Mastercard, Merck, Caterpillar, and Shell ahead of the opening bell.
Sources
56 articles- CNBCMicrosoft stock jumps 5% as cloud growth drives earnings and revenue beat
- CNBCOracle stock pops 11% as long-term revenue forecast and clarity on financing ease debt concerns
- WSJFed’s Rate Hold Sends Bond Yields in Different Directions
- WSJWeil Gotshal Leaders Confirm Plan to Wind Down Law Firm
- WSJOil Futures Rise on Fears of Middle East Escalation
- WSJNelson Peltz’s Trian Offers to Buy Wendy’s for $1.4 Billion
- MarketWatchWhy did the Fed hold off on raising interest rates? Warsh says it’s because an ‘information rich’ period is coming.
- CNBCThree media outlets seek full White House access in amended lawsuit
- WSJThe Firm That Pioneered Bankruptcy Law Is Winding Down Itself
- MarketWatchWendy’s buyout offer suggests the burger chain’s overhaul could be very expensive
- CNBCBond investor Jeff Gundlach on Fed's rate pause: 'What are you waiting for?'
- MarketWatchThe U.S. government will no longer penalize American companies for making six popular peptides
- MarketWatchHere’s what just sent Oracle’s stock soaring
- ReutersVIEW FOMC holds rates steady, markets rise modestly - Reuters
- ReutersFed leaves rates unchanged as it awaits 'accumulation of more information' - Reuters
- ReutersOracle eases AI spending worries with plan to turn cash flow positive - Reuters
- BloombergPetroperu Chair Eyes Rare Profit, Investors for Minority Stake
- BloombergChickens Are Coming Home to Roost in Credit
- ReutersWall Street mostly rises as Fed holds key rate steady, deferring next likely hike to December - Reuters
- BloombergDeutsche Telekom Is Said to Hit Brakes on Giant T-Mobile Merger
- BloombergFed's Warsh Says Monetary 'Medicine' Starting to Work
- WSJAirbus Posts Lower Earnings as It Seeks to Ramp Up Plane Deliveries
- CNBCGE Vernova shares slip despite a beat-and-raise. What the sellers are getting wrong
- WSJCampari Says Aperitifs, Tequila Are Driving Sales, But U.S. Drinking Trends Remain Weak
- Financial TimesHealey avoids bond market wobble with ‘uneventful’ first Budget
- Financial TimesEuropean gas prices jump above €100 on fears of Iran war escalation
- WSJRetailers Cracked Down on In-Store Theft. Gift-Card Scammers Just Moved Online.
- Financial TimesBank of England able to take UK Budget in its stride despite slippage in deficit reduction
- CNBCJim Cramer sees buying opportunities in these 2 beaten-down stocks
- Financial TimesMubadala Capital dealmaker to launch his own venture fund
- BloombergRussia Adds Apple and Microsoft to State Surveillance Registry
- The New York TimesApple Unveils Its First Touch-Screen MacBook Pro
- BloombergApple Unveils Touch-Screen MacBook Pro, Reversing Long-Held Jobs Stance
- CNBCMicrosoft will post earnings after the bell amid job cuts and new cash-flow test
- WSJMicrosoft Is Trying to Shed a Lot of Workers. Just Don’t Call It a Layoff.
- BloombergMicrosoft and Alphabet Earnings Put Focus on AI Cash Flow Drain
- ReutersEXCLUSIVE: US DOJ is inquiring about Nvidia's purchase of Hugging Face, sources say
- CNBCIndian investors rush to Nvidia, SpaceX, Apple as local trading apps roll out access to U.S. stocks
- BloombergNvidia-Backed Firm Launches $3.1 Billion GPU Loan into Market
- ReutersUS agency approves Amazon Leo’s $11.5 billion acquisition of Globalstar
- ReutersAmazon cuts more jobs, in devices unit, after flurry of product rollouts
- BloombergAmazon Debuts 16-Inch Echo Smart Display and Alexa Photo Frame
- CNBCGoogle alters its cloud playbook, enlisting partners to sell more AI chips
- APSouth Korea fines Google and Apple over unfair app market practices
- CNBCMeta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO
- ReutersMeta and Snap face major US legal test of youth social media addiction claims
- CNBCHere are Wednesday's biggest analyst calls: SpaceX, Nvidia, Apple, AMD, Meta, Amazon, Tesla, Boeing & more
- CNBCTrade Tracker: Bill Baruch trims Meta
- Barron'sWant to Test Tesla’s Full Self-Driving? You Can Now Rent It on Turo.
- WSJMusk’s Tesla-SpaceX Merger Would Formalize a Decadeslong Partnership
- CNBCFinal Trades: RTX, Tesla and Nutrien
- BloombergAnthropic Said to Pick JPMorgan to Lead IPO’s US Retail Offering
- WSJExclusive | JPMorgan’s Skyscraper on Park Avenue Estimated to Cost Around $6 Billion
- BloombergJPMorgan Private Bank’s Tang Sees More Downside Risk for Gold
- ReutersFirst Venezuelan oil from US-NABEP deal arrives in Texas, to be sold to Exxon, Citgo
- CNBCCheck out EGY, CRK, XOM, CVX, XOP, IEO's stock price (EGY,CRK,XOM,CVX,XOP,IEO) in real time
This brief was written by AI (Google Gemini) from the articles listed above and may contain errors. It is for information only and is not investment advice. Check the original reporting before making decisions.