Megacap tech dragged down the S&P 500 and Nasdaq-100 as every...
Megacap tech dragged down the S&P 500 and Nasdaq-100 as every BATMMAAN stock was in the red except for Alphabet and Apple. The AI trade was off as investors expressed concerns about Meta’s big spending plans.
Your Evening Briefing
October 30, 2025
Big Tech sends stocks lower
Megacap tech dragged down the S&P 500 and Nasdaq-100 as every BATMMAAN stock was in the red except for Alphabet and Apple. The AI trade was off as investors expressed concerns about Meta’sbig spending plans. Though the Russell 2000 also fell, it fared slightly better than the benchmark S&P 500 index and tech-heavy Nasdaq 100.
Stocks that moved higher:
Google had a banner day after it posted fiscal third-quarter earnings that surpassed Wall Street’s expectations yesterday evening, helped by big growth in its Google Cloud business.
Cloud software giant ServiceNow rose following better-than-expected earnings and the announcement of plans for a 5-for-1 stock split in yesterday’s earnings call.
Microsoftbeat expectations yesterday but the stock dropped. Last quarter, the company offered guidance that its capex spending would be lower in the second half of the fiscal year. Yesterday it said spending would go up.
Used car seller Carvana fell after postingworse-than-expected profitafter the bell yesterday despite record revenue and vehicle sales.
Boeing slumped after the meeting between US President Donald Trump and Chinese President Xi Jinping produced no purchase announcements. Analyst Scott Deuschle from Deutsche Bank lowered the stock to “hold” from “buy.”
Shares of luxury EV maker Lucid dipped lower as traders piled bearish options bets.
Amazon CEO Andy Jassy at AWS re:Invent 2024 (Noah Berger/Getty Images)
Amazon soars as 3Q earnings, sales beat Wall Street expectations
Amazon shares jumped by nearly double-digits after the company beat Wall Street’s expectations for third-quarter sales and profit, as revenue from its AWS business soared.
Was this email forwarded to you? Don’t miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.
Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads.
We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more
