The Nasdaq fell as Alphabet earnings dragged stocks today. As flagged in this morning's analysis, as of 20:00 UTC those Nasdaq and S&P 500 prints remain intraday, with US cash still open until 16:00 New York (20:00 UTC). The cash-flow split this morning flagged played out: Alphabet sold off in cash, Microsoft faded from the after-hours pop, and the contained-open scenario did not.
The Close: Nasdaq Leads Indexes Lower While Cash Remains Open
The Nasdaq Composite last printed about 26,139, down 1.55 percent from Wednesday's 26,549.85 (MetaCap as of 19:29 UTC; Yahoo 26,127, 0.05 percent apart). Range 26,053 to 26,286. The Nasdaq-100 last printed about 29,361, down 1.5 percent. The S&P 500 last printed about 7,706, down 0.49 percent from Wednesday's 7,743.98. Range 7,690.94 to 7,732.21. This morning's bullish reclaim at 7,758.43 was not taken. The morning bearish reference at 7,718.37 was taken on the session low; Tuesday's 7,677.16 remains intact. October 6's 7,818.93 record close remains unrepaired. The Dow last printed about 52,272, down 0.39 percent. The Russell 2000 last printed about 2,850, up about 0.7 percent, labeled intraday. Advance third-quarter GDP printed 3.4 percent after 2.2 percent in the second quarter (BEA), above the about 3.0 percent consensus this morning flagged. Hot growth did not lift the mega-cap complex. S&P bullish trigger: a reclaim of 7,718.37, then 7,758.43. Bearish trigger: a fade through 7,690.94, then 7,677.16.
- Nasdaq about 26,139 (-1.55%), labeled intraday; S&P about 7,706 (-0.49%)
- Morning bearish 7,718.37 taken (low 7,690.94); 7,758.43 and Oct 6 record 7,818.93 unrepaired
- GDP 3.4%; Russell 2000 about +0.7%
- S&P bullish trigger: reclaim 7,718.37 then 7,758.43; bearish: 7,690.94, then 7,677.16
Story of the Day: Alphabet's Cash Miss Hits the Nasdaq
Alphabet Class A last printed about 283 dollars, down about 13 percent from Wednesday's 324.89, labeled intraday. Third-quarter revenue of 127.6 billion dollars missed about 128.2 billion, and adjusted earnings of 2.67 dollars a share missed 3.02. Google Cloud more than doubled to 30.71 billion dollars, but free cash flow printed a 9.07 billion dollar outflow against about 2.7 billion expected, with capital spending at 51.4 billion. Advertising came in at 82 billion dollars against about 83.4 billion. Microsoft faded the about 3 percent after-hours gain this morning flagged and last printed slightly lower in cash after Azure sales of 33.17 billion dollars, up 48 percent. Amazon reports at 20:00 UTC. Scenarios to watch: a cash-flow split that keeps selling the spenders into Amazon, or a contained after-hours print if Amazon's cloud and cash lines offset Alphabet. None of this is a recommendation.
- Alphabet about -13% in cash; revenue $127.6B against $128.2B; free cash flow -$9.07B
- Cloud $30.71B; ads $82B against $83.4B
- Microsoft faded the after-hours pop; Amazon reports at 20:00 UTC
Oil Recovers After Tagging the Morning Bearish Zone
West Texas Intermediate last printed about 102.34 dollars (goldoilprice at 19:21 UTC; FT.com 102.25, under 1 percent apart), against Wednesday's settle of about 102.78 and this morning's about 101.40. Session range 99.79 to 102.38. The morning bearish references at 101.02 then 99.75 were taken on the low at 99.79, then crude recovered. Wednesday's 102.78 settle and the 103.55 high remain unrepaired. Brent last printed about 111.03 dollars. Oil bullish trigger: a reclaim of 102.78, then 103.55. Bearish trigger: a slip through 99.79.
- WTI about $102.34 against Wednesday settle about $102.78 and this morning about $101.40
- Morning bearish $101.02 then $99.75 taken (low $99.79), then recovered
- Oil bullish trigger: reclaim $102.78 then $103.55; bearish: $99.79
Crypto Check: Bitcoin Holds After Taking 79,720
Bitcoin last printed about 80,818 dollars (CoinGecko at 19:36 UTC). goldoilprice sat at 80,740, under 1 percent apart. This morning last printed about 80,261. The morning bearish reference at 79,720 was taken (session low about 79,614), then recovered. The 21-period average near 82,700 remains overhead. The 79,370 zone remains the lower reference. Ether last printed about 2,332 dollars. Prints labeled intraday; crypto's daily candle closes at 00:00 UTC. Bitcoin bullish trigger: a reclaim of 82,700. Bearish trigger: a slip through the session low at 79,614, then 79,370.
- Bitcoin about $80,818 against this morning about $80,261; $79,720 taken, then recovered
- Ether about $2,332; prints labeled intraday
- Bitcoin bullish trigger: reclaim $82,700; bearish: $79,614, then 79,370
After-Hours and Overnight Watch
US cash still has the closing auction as of 20:00 UTC. Amazon reports at 20:00 UTC as that auction runs. Spot gold last printed about 4,016 dollars (goldoilprice 4,016.40 at 19:32 UTC, down 0.67 percent). This morning last printed about 4,028. The morning bearish reference at 4,021 was taken (Kitco low 4,004.50); 3,999 remains intact. The move is under the 2 percent bar. September PCE prices rose 0.5 percent on the month and 3.6 percent on the year; core PCE rose 0.3 percent and 3.1 percent (BEA). Claims printed 194,000 (DOL). The ECB held the deposit rate at 2.50 percent and flagged energy as an upside inflation risk. Tokyo CPI prints at 23:30 UTC. Docket: the calendar and the week ahead. Gold bullish trigger: a reclaim of 4,100. Bearish trigger: a slip through 4,004.50, then 3,999. Scenarios to watch: an Amazon cash print that extends the spender split, or a contained reaction that leaves indexes mixed into Friday.
- Gold about $4,016; morning bearish $4,021 taken; $3,999 intact
- Amazon reports at 20:00 UTC; cash still open until that stamp
- ECB held at 2.50%; Tokyo CPI at 23:30 UTC
For live prices see the ThriveInMarkets homepage. None of the above is a recommendation to buy or sell any asset. Index prints are intraday as of 20:00 UTC Thursday, October 29, 2026.
