By Danilo
Hey, mooers! Here are things you need to know before the opening bell:
- U.S. stock index futures were mildly lower during early morning trading on Wednesday after the Dow and S&P closed at record highs as earnings season continues.
- Microsoft's Azure cloud-computing business has thrived on the turn to remote work during the pandemic.
Market Snapshot
U.S. stock index futures were mildly lower during early morning trading on Wednesday after the Dow and S&P closed at record highs as earnings season continues.
Futures contracts tied to the $Dow Jones Industrial Average(.DJI.US)$ rose fell 24 points. $S&P 500 Index(.SPX.US)$ futures edged lower as well while $NASDAQ 100 Index(.NDX.US)$ futures were little changed.
Market Temperature
Read More: Market Temperature (10/27)
Top News
Stocks notch closing records
All three major indexes marched higher, with the $Dow Jones Industrial Average(.DJI.US)$ and $S&P 500 Index(.SPX.US)$ ending at their highest levels ever. Earnings reports so far have beaten investors' expectations and helped lift stocks out of a September slump.
Tax proposals hit headwinds as democrats try to finalize deal
A push by Democrats to fund their social-spending and climate bill faltered, with a proposed tax on billionaires' unrealized capital gains and revised bank-reporting requirements both running into opposition from party lawmakers.
Inflation could mean value stocks' time to shine
Bitcoin, gold and oil are all having a moment as inflation fears rise, but the best haven for ordinary investors might be long-neglected value stocks.
The lowdown on the third-quarter slowdown
The Commerce Department will release its first read on third-quarter gross domestic product on Thursday. The median estimate among economists polled by The Wall Street Journal is for a 2.8% annual growth rate, but the range of estimates is wide.
Google profit nearly doubles, boosted by red-hot ad market
The search giant posted its highest quarterly revenue increase in 14 years, as smaller businesses pour money into digital ads. $Alphabet-A(GOOGL.US)$
Microsoft earnings, sales up sharply
The company's Azure cloud-computing business has thrived on the turn to remote work during the pandemic. $Microsoft(MSFT.US)$
Robinhood revenue falls on a drop in crypto trading
Fees tied to stock and options trades ticked down slightly at the popular app, while revenue tied to cryptocurrency trading tumbled 78% to $51 million. $Robinhood(HOOD.US)$
Read More
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Microsoft smashes earnings expectations with strong cloud performance
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Swapping GameStop for ETFs, retail investors ride out volatile markets
Key Events This Week
Source: CNBC, Dow Jones Newswires, Bloomberg