Big Tech earnings drop this week. Here's what Wall Street is watching.

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We mightiness beryllium a week distant from Election Day, but there's plentifulness to chew connected successful nan meantime.

This week is simply a large 1 for financial markets. The individual depletion expenditures index, nan Fed's preferred ostentation gauge, is owed Thursday. The October jobs study follows connected Friday. We'll besides get a third-quarter GDP report.

That information will beryllium nan past spot of info nan cardinal slope gets earlier making a determination adjacent week astir complaint cuts, writes Business Insider's Kelly Cloonan. Traders are expecting nan Fed to make a modular quarter-point cut.

We're besides getting financial check-ins from immoderate of nan biggest companies successful nan world. Big Tech net commencement today, pinch astir $12 trillion successful marketplace headdress reporting complete 3 days.

Here's what to look retired for:

Tuesday

Alphabet: Last time, analysts wanted specifications connected whether Google's AI bets were paying off. Executives tin constituent to nan slew of updates to Google Search unveiled earlier this month. But nan institution has bigger concerns than justifying tech spend. An August antitrust ruling against Google threatens to upend nan full organization.

Wednesday

Meta: Wall Street wants to cognize really overmuch capex Meta will churn done successful 2025, truthful we mightiness get a forecast. Mark Zuckerberg hasn't shied distant from saying his institution will support spending large connected AI, and nan marketplace hasn't minded. Meta's shares are up almost 67% this year, trailing only Nvidia among its Magnificent 7 peers. Judging by Meta Connect 2024 and its CTO's comments, nan tech elephantine wants to ain nan marketplace for AI-powered wearables.

Microsoft: Things haven't been arsenic optimistic astatine Microsoft, wherever analysts hammered nan company's AI spend. It doesn't thief that reviews for Copilot AI are mixed. Microsoft's large early stake connected OpenAI is besides evolving. The startup is trying to shed its non-profit tag, but nan narration shows signs of strain.

Thursday

Amazon: The e-commerce elephantine offers a valuable look astatine nan spot of nan US consumer. AWS' strategy successful our caller AI-driven world is besides an area of focus. But Amazon's ballooning heap of rate and short-term investments — group to deed $127.4 cardinal by year-end — mightiness beryllium what Wall Street cares astir most.

Apple: iPhone gross has been a sore spot for Apple, partially owed to diminishing income successful China. A caller iPhone coupled pinch Apple Intelligence hopes to reside that lull. And questions are swirling astir nan early of Apple's different large 2024 release: nan Vision Pro.

The Insider Today team: Dan DeFrancesco, lawman editor and anchor, successful New York. Jordan Parker Erb, editor, successful New York. Hallam Bullock, elder editor, successful London. Milan Sehmbi, fellow, successful London. Amanda Yen, fellow, successful New York.