Live Markets: S&P 500, Nasdaq down as some Big Tech earnings fail the hype

CH Robinson Worldwide

30/10/2025 14:29

Updates with early US market action

S&P 500 declines, Nasdaq down ~1%; Dow up

Tech weakest S&P 500 sector; Financials lead gainers

Euro STOXX 600 index off ~0.4%; ECB leaves rates unchanged

Dollar rallies; gold up >1.5%; crude declines; bitcoin off >3%

US 10-Year Treasury yield rises to ~4.09%

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S&P 500, NASDAQ DOWN AS SOME BIG TECH EARNINGS FAIL THE HYPE

The S&P 500 .SPX and the Nasdaq .IXIC are pulling back early on Thursday, with technology stocks the biggest drags as earnings from tech giants Microsoft MSFT.O and Meta Platforms META.O failed to impress.

Microsoft is dropping 2.6% after the company reported a record capital expenditure of nearly $35 billion for its fiscal first quarter and warned spending would rise this year, in a reversal of its earlier prediction that it would moderate.

Facebook-parent Meta Platforms also forecast "notably larger" capital expenses next year thanks to investments in artificial intelligence. Also hurting the stock was a Bloomberg News report that the company is targeting at least $25 billion in a bond sale. META is last down 11.8%.

Not all was bad in the world of tech though, with Google-parent Alphabet GOOGL.O up 5.3% after beating estimates on third quarter profit and revenue.

On the macro side, investors are trimming some enthusiasm over a December rate cut after Federal Reserve Chair Jerome Powell surprised markets by casting doubt on the December action when the central bank cut its benchmark lending rate as expected on Wednesday.

The latest on the U.S.-China trade spat includes President Donald Trump saying he has agreed with President Xi Jinping to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing.

Back to stocks,  Chipotle Mexican Grill CMG.N is sliding  16.8% after the burrito chain cut its annual sales forecast for the third time this year.

C.H. Robinson CHRW.O is surging 21% after the global freight forwarder beat third quarter profit estimates.

Here's a look at the markets at 10:15 a.m. ET/ 1415 GMT:

(Shashwat Chauhan)

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US markets snapshot https://fingfx.thomsonreuters.com/gfx/mkt/zdpxjyeqwpx/Pasted%20image%201761833756718.png