Google stock crashed 📉13% at Thursday’s open to trade near 270, wiping out half of its 2025-2026 bull run and returning to levels last seen in February

US Bond Yields Snapshot: Risk off

Bond yields sliding on safe haven buying as stocks drop… lower yields weighing on USD… EURUSD outside day key reversal day

Amazon shares fell after earnings missed expectations, adding pressure to the broader market and pulling major stock indices lower.

Amazon shares dropped sharply after third-quarter earnings and sales fell short of expectations, weighing on major stock indices. Earnings came in at $1.89 per share versus $1.97 expected, while sales totaled $201.9 billion, below the $202.2 billion forecast

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Earnings Due Today

EURUSD pops on Hawkish LaGarde presser

EURUSD pops after LaGarde held out a risk of an ECB rate hike, including as early as November to put 1.1150 (sets bias) in play again.

NAS100 (NASDAQ) 4 HOUR (CFD): Double top

With upside contained around 30K for a double top, NAS100 is dependent on 29132 holding to check the downside and keep rsupport off the higher low.

If not, then or risk would shift back to the 28820 low (with key support below it at 28755).

Market Update: Post data

Limited reaction to US data (GDP, PCE, Jobless Claims). EURUSD back near neutral 1.1150 (caps upside while below it) ahead of the ECB, US stocks, led by NAS struggling, but within existing ranges.

Oil 🛢 is 📈consolidating📉 & waiting for next week 🇺🇸 Election scenario 🇺🇸

GOLD is waiting for advance GDP, Core PCE price index & unemployment claims since federal rates didn’t change the overview outlook for GOLD

EURUSD is on a ECB countdown 🔄 as high inflation & French debt worries complicate main refinancing rates

EURUSD 4 HOUR: Waiting for the ECB

Bounce from a double bottom (1.1113) and higher low not going far enough to break the downside risk. For that to happen, 1.,1195 would need to be taken out.

This keeps EURUSD on the defensive (while below 1.1150) but consolidating ahead of the ECB meeting where the surprise would be a rate hike.

Note for US traders: ECB decision is due at 9:15 EDT, one hour later than usual as US clocks do not due fall back until Sunday

ECB President Lagarde announces she will step down after the February 2027 meeting.

Forex Market Snapshot

The dollar is trading on the firm side after selling following the FOMC saw limited follow through., CHF and JPY lagging as US yields dip along with softer crude oik prices.

• EURUSD:: On the defensive (while below 1.1150) ahead of the ECB decision.
• USDJPY: Bounce off a 157.60 low keeps 158 pivotal amid defense ahead of Friday’s BoJ meeting.
• GBPUSD: Clinging to a bid above 1.33 after a stop run below yesterday failed to follow through.
• USDCAD:: Back to unchanged as focus stays on pivotal 1.40 to set its tone after a bounce from just above its 1.3968 low (near double bottom)
• AUDUSD; Still bid above .7000 but again struggled to hold above .7050

Market Update: Closing Indices

Take your pick what stands out after a wild ride after earnings. NAS100 bounced off 30K while US500 stop run through 7772 stalled as both lacked follow through. So an inconclusive (but disappointing) close

Microsoft Tops Earnings and Revenue Forecasts in Fiscal Q1

Microsoft (MSFT) reported fiscal first-quarter 2027 earnings of $4.92 per share, exceeding expectations of $4.72. Revenue reached $92.3 billion, beating the $90.6 billion forecast. Operating income also came in above estimates at $45.9 billion, compared with expectations of $44.1 billion. Net income totaled $36.6 billion, surpassing the projected $35.1 billion. The results put Microsoft ahead of forecasts across all four reported measures, with revenue exceeding expectations by $1.7 billion and earnings per share beating estimates by 20 cents.

No surprise

Fed keeps rates unchanged as expected…. vote was not unanimous (2 dissenters)… next up Fed Chair Warsh’s presser