Alphabet misses and Microsoft beats- Nasdaq 100 futures rise and fall

The eagerly awaited Q3 earnings report from Alphabet (GOOGL) has just hit the news wires. We reported earlier how the markets were forecasting earnings of $127.90 billion with an EPS of $3.03. Alphabet have just announced earnings of $127.5 billion and an EPS of just $2.12. Many other aspects of their report have also missed on expectations and the shares are falling by more than 7% in after-hours trading 

The Nasdaq 100 had been mostly on the front foot today and had traded as high as 29,848 as the Fed boss seemed to walk back on further Fed rate hikes. Earlier in the day, not long after the opening the index had traded as low as 29,618, remembering it had closed on Tuesday, at 29,651. The index has literally just closed at 29,813.

The futures were rising on some further news out of the Middle East, but since this data they have fallen back and that has more than outweighed the beat we just got from Microsoft (MSFT), who have also just now released their Q3 earnings report. Once again we repeat what we noted earlier today about what the markets had been expecting- earnings of $90.62 billion, with an EPS of $4.71. Microsoft have just announced earnings of $92.3 billion and an EPS of $4.92. So a beat on the top and bottom line and that did initially send the Nasdaq 100 futures pricing the opening above 30k, but as we just said that has been badly dented by the really poor numbers from Alphabet. The Nasdaq 100 is right now pricing the opening around 29,800