TLDR

MARKET RECAP → The S&P 500 (VOO) and Nasdaq (QQQ) logged their worst days in over a month Thursday, led lower by megacap technology names like Microsoft (MSFT) and Meta (META) after disappointing earnings reports.

FED INFLATION RATE EDGES CLOSER TO TARGET→ Inflation hit 2.1% in September, nearing the Fed's 2% goal, as consumer spending stayed strong while jobless claims fell, signaling labor market resilience. That said, inflation excluding food and energy (“core inflation”) rose 2.7%. All said, this wasn’t enough to excite investors about further rate cuts. 📉

COMCAST BEATS EARNINGS ON OLYMPICS BOOST → Comcast’s (CMCSA) Q3 earnings outpaced estimates, with Olympics viewership boosting NBCUniversal’s revenue and adding 3 million new Peacock subscribers. 📈

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Fed Inflation Rate Edges Closer to Target

📉 The Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, rose 0.2% in September, bringing the annual rate to 2.1%—almost aligning with the Fed’s 2% target.

💡 Excluding food and energy, core inflation held higher at 2.7%, with services costs up 0.3% and goods prices dropping 0.1%, marking the fourth deflationary month in five for goods.

📈 Personal spending outpaced expectations with a 0.5% increase, while jobless claims fell, indicating sustained labor strength amid easing inflation pressures.

TODAY’S TOP NEWS

Comcast Beats Earnings on Olympics Boost

📈 Comcast’s (CMCSA) Q3 earnings exceeded expectations, with the Summer Olympics driving NBCUniversal’s revenue and adding 3 million Peacock subscribers, pushing streaming revenue up by 82%.

🏅 The Olympics drew in 31 million daily viewers, delivering record ad revenue and increasing content segment growth by 19.3% to $12.6 billion, offsetting high operational costs.

📡 Broadband saw mixed results: revenue grew 2.7%, but overall customer growth lagged due to the end of the Affordable Connectivity Program and increased competition from wireless providers.

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