Alphabet, Microsoft and Amazon results to test AI investment optimism as rising oil prices and inflation weigh on markets
**Fed Decision Anchors A Heavy Week**
Wall Street enters a consequential stretch, with the Federal Reserve’s rate announcement on Wednesday serving as the central event. The Federal Open Market Committee’s two-day meeting concludes midweek, and futures pricing on Friday suggested under a 10% chance of another increase, according to LSEG data. The Fed had raised rates in September, its first such move since 2023, citing inflation that remains above target. Analysts see a possible hike at the December meeting instead. Weakening consumer confidence and signs of labour market strain have clouded the outlook, making the accompanying statement closely read for forward guidance.
**Earnings And Data In Focus**
Alphabet and Microsoft report on Wednesday, with Amazon following on Thursday. Investors are expected to examine artificial intelligence spending, cloud growth and returns on large data-centre outlays. A broader set of results — including Visa, Coca-Cola, Boeing, UPS, Eli Lilly, Mastercard, Intel, Merck, Caterpillar, Shell, ExxonMobil, Chevron, BP, AbbVie, Verizon, T-Mobile US, Chipotle, eBay and GE Vernova — may shed light on consumer demand, industrial activity, healthcare spending and energy conditions. On the data side, Thursday brings the first estimate of third-quarter GDP, while October core PCE inflation, the Fed’s preferred gauge, also draws attention. Consumer confidence, new home sales, personal income and spending, personal consumption figures and the Employment Cost Index round out the calendar. These releases could shift rate expectations and shape sentiment before the November 3 midterm elections.
**Why It Matters For India Inc**
For Indian businesses with US exposure, the week carries direct implications. A hawkish Fed tone can strengthen the dollar, influencing rupee movement and the cost of overseas borrowing. Elevated crude prices add pressure: Brent rose 3.1% to above $116 a barrel, its highest since June 2022, which matters for India’s import…
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