GOOGL rout does the Nasdaq 100 futures no favours

Yesterday evening after the closing bell we noted the disappointment across the markets to the Q3 earnings from Alphabet (GOOGL). We tried to cover that and the numbers from Microsoft (MSFT), along with a whole host of S+P 500 companies reporting at the same time, such as Ford, Fed-Ex and and eBay. In fact, we only covered MSFT and it was their beat which actually hit the wires ahead of GOOGL and lifted the implied Nasdaq 100 opening call above 30k. 

The slide that followed was all about GOOGL and the miss from Alphabet, that we did cover. Well, since then the grey market share price has fallen over 11% in Asia at one point. It is still down over 9% as we write. So, at one point the Nasdaq 100 was priced to reopen later today as low as 29,325, given it closed last night at 29,813. That slide came even as MSFT gained over 5% in the grey market. 

The Nasdaq 100 futures are on the rebound now though and currently pricing the opening around 29,575, but the story is not over yet folks. More to follow as the day unfolds