Alphabet shares fell more than 12% on Thursday, dragging the Nasdaq Composite down 1.35%, after third-quarter negative free cash flow of $9.07 billion came in well above the $2.70 billion analysts expected. The company kept its capex guidance for next year at $195 billion to $205 billion, and if shares close down more than 9.77%, it would be their worst post-earnings performance since the 2004 IPO. Alphabet faces pressure from OpenAI and Anthropic as queries move to their models, and Gemini is seen as lagging ChatGPT and Claude; chief business officer Philipp Schindler said search is taking hits from lower monetization within AI Mode. Also on Thursday, September PCE inflation rose 0.5% monthly and 3.6% annually, in line with expectations but well above the Fed's 2% target, a day after the Fed held rates at 3.75%–4% with two dissents.
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Related tickers and likely impact
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/28/2026 | 324.89 |
| Change that session | +1.34% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 725.61 |
| Change that session | +0.60% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 772.31 |
| Change that session | +0.34% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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