Markets
Oct 29, 2026 6 min read
Dow Futures Up, Nasdaq Futures Down: Alphabet's 10% Drop, Microsoft's Beat and the PCE Report at 12:30 UTC Explained
Dow Jones futures are up about 0.4% near 52,890 on the morning of 29 October 2026 while Nasdaq 100 futures are down 1.2% near 29,620 and S&P 500 futures are off 0.4% near 7,750. The split is earnings: Alphabet fell about 10% after hours on a revenue miss and worries about AI spending, Microsoft rose nearly 4% on Azure growth. The September PCE report and third-quarter GDP land at 12:30 UTC with the Fed's December hike priced at 85%. This guide explains why the indices have come apart, what the inflation data do to each, the levels that matter and how the session is likely to trade.
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