Nasdaq Composite Extends the Record as MSTF Drops, Alphabet Surges, Meta Slumps
U.S. stocks ended the session mixed as the NASDAQ notched another record close, while Microsoft, Meta and Google released Q3 earnings.
Quick overview
- U.S. stocks closed mixed, with the NASDAQ reaching a record high of 23,958.47 points, driven by strong performances from major tech companies.
- The Federal Reserve cut rates by 0.25%, but Chair Jerome Powell's cautious remarks on future cuts tempered market enthusiasm.
- Despite the NASDAQ's success, broader market sentiment remained cautious as investors weighed strong tech earnings against potential policy impacts.
- Earnings reports from Microsoft, Alphabet, and Meta showed mixed results, with Microsoft and Meta's shares declining despite beating revenue estimates.
Live NAS100 Chart
U.S. stocks ended the session mixed as the NASDAQ notched another record close, while Microsoft, Meta and Google released Q3 earnings.
NASDAQ Extends Record Streak
The NASDAQ Composite once again reached uncharted territory, closing at a new record high of 23,958.47 points, up 130.98 points or 0.55%. The index continued to outpace its peers, driven by sustained enthusiasm for major technology names and renewed investor appetite for growth stocks. Nvidia gained 3.05%, AMD advanced 2.45%, and Broadcom climbed 3.49%, helping the index extend its historic run.
Fed Cuts Rates, but Powell Tempers Expectations
The Federal Reserve delivered a 0.25% rate cut, marking another step toward easing financial conditions. However, Fed Chair Jerome Powell struck a notably cautious tone on the possibility of a December rate cut, warning that the central bank will move carefully as inflation data continues to send mixed signals. The tone dampened enthusiasm in other parts of the market, leading to a modest pullback in the Dow, which slipped slightly, while the S&P 500 finished largely unchanged.
Cautious Optimism Dominates Market Mood
Despite record highs in the NASDAQ, the broader market reflected investor restraint. Traders weighed strong earnings from the tech sector against Powell’s cautious comments, highlighting the push and pull between optimism for long-term growth and caution about short-term policy and profit pressures. With the next wave of corporate results from Meta, Microsoft, and Alphabet on the horizon, Wall Street appears poised for more volatility before setting its next direction.
US Indices Market Snapshot
- Dow Jones Industrial Average slipped 74.02 points (-0.16%) to close at 47,632.35.
- S&P 500 inched down 0.22 points, essentially flat at 6,890.66.
- NASDAQ Composite advanced 130.90 points (+0.55%) to finish at 23,958.47, driven largely by strength in select technology names.
Earnings Spotlight: Big Tech in Focus
Microsoft (MSFT)
- Q1 2026 EPS: $4.13 (beat, est. $3.7)
- Revenue: $77.7B (beat, est. $75.4B)
- Despite solid results, shares fell 4.43% after hours, as cautious commentary on cloud growth tempered enthusiasm.
Alphabet (GOOGL)
- Q3 2025 EPS: $2.87 (beat, est. $2.30)
- Revenue: $102.3B (beat, est. $99.73B)**
- Shares surged 4.71%, fueled by strong ad sales and expanding AI-driven services that lifted investor sentiment.
Meta Platforms (META)
- Q3 2025 Adjusted EPS: $7.25 (miss, est. $6.76)**
- Revenue: $51.2B (beat, est. $49.35B)**
- Guidance: $56B–$59B vs. $57B expected.
- Shares tumbled 7.42% after a one-time $15.93B tax charge and softer future outlook clouded the otherwise solid quarter.
Nasdaq Live Chart
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