Microsoft's Earnings: OpenAI Investment Hits Profit

MRKT Matrix - Thursday, October 30th

• Stocks drop, Nasdaq hit hard as Big Tech leaders Meta and Microsoft decline after earnings (CNBC)
• Meta stock drops 10% as heightened AI spending overshadows strong third-quarter results (CNBC)
• Meta readies $25bn bond sale as soaring AI costs trigger stock sell-off (FT)
• Alphabet stock jumps 4% after posting strong results, boosting AI spend (CNBC)
• Microsoft takes $3.1 billion hit from OpenAI investment (CNBC)
• Oracle Bond Risk Jumps on Concerns Over AI Spending Spree (Bloomberg)
• Chipotle stock craters as Wall Street grows concerned after company cuts forecast (CNBC)
• Goldman CEO Says US Heading for Debt ‘Reckoning’ If Growth Flags (Bloomberg)
• U.S.-China Truce Brings Little Peace for Businesses Caught in Superpower Standoff (WSJ)

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MRKT Matrix by RiskReversal Media is a daily AI powered podcast bringing you the top stories moving financial markets

Story curation by RiskReversal, scripts by Perplexity Pro, voice by ElevenLabs