The week's focus is the Federal Reserve's interest-rate decision and earnings from Alphabet, Microsoft and Amazon, as investors look for clues on inflation and on whether AI spending can deliver sustainable returns. Deutsche Bank expects the Fed to hold rates but keep a hawkish tone, estimating September core PCE inflation rose 0.36% month over month, or about 3.14% annually. Wells Fargo also expects a pause but still sees a December hike as its base case. GDP growth is forecast at around 3% annualised. Swissquote senior analyst Ipek Ozkardeskaya said investors are increasingly worried about the cost and leverage behind AI growth, so companies showing spending discipline could be better received.
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Related tickers and likely impact
QQQ
• NeutralInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.40 |
| Change that session | -0.01% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 759.97 |
| Change that session | -0.52% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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