Alphabet has its worst day since 2004, losing about $500bn, and the sell-off spreads to Intel and Asia's chip makers

The rest of the day

28 more stories on this beat.

Each with its own sources. None of these is a link to the story above.

1. 02

   Amazon's cash goes $42.4bn negative

   Amazon made a profit of $20.7 billion in the three months to September. [15] Over the past year it spent $42.4 billion more cash than its business brought in. [13] A year earlier the same measure showed $14.8 billion more coming in than going out. [15] Amazon said the gap came mainly from buying buildings and equipment for AI. [13] It spent $77.3 billion on them in the quarter, up from $35.1 billion a year earlier. [13] Amazon Web Services, its cloud computing arm, grew sales 39% to $45.98 billion. [14] Amazon forecast Christmas-quarter sales of $240 billion to $247 billion, below analysts' hopes. [16]

   Why it matters — Its boss, Andy Jassy, said Amazon expects to "spend meaningfully more in 2027". [13] Its shares fell more than 6% after hours as investors weighed the spending. [13]

2. 03

   Microsoft borrows $25bn for data centres

   Microsoft said on Thursday it will raise $25 billion by selling bonds to investors. [17] Microsoft holds AAA, the top credit rating from S&P, a ratings agency. [17] It plans to spend $170 billion this year on buildings and equipment. [17] Much of that is to meet demand from AI labs such as OpenAI and Anthropic. [17] Unlike Alphabet and Amazon, Microsoft still took in more cash than it spent last quarter. [17] The bond sale drew very strong demand from investors. [6]

   Why it matters — On Wednesday Oracle said it plans to borrow $10 billion as well. [17] Microsoft said the bond sale should be completed on 4 November. [17]

3. 04

   US economy grows 3.4% as prices speed up

   The US economy grew at a 3.4% yearly pace from July to September. [19] Economists had expected 3.2%, and it was the fastest pace in a year. [19] Business spending on equipment, mostly computers, rose at a 20.9% pace. [19] The PCE price measure, which the US central bank prefers, rose 3.6% in a year. [20] Leaving out food and fuel, prices rose 3.1%. [18] That 3.6% was up from 3.4% in August, against the US central bank's 2% goal. [19] Households saved 3.8% of their income in September, down from 4.4% from April to June. [19]

   Why it matters — Traders put the chance of a US rate rise in December at 83.6%. [21] After the figures, US government bond yields and the dollar both fell. [19]

4. 05

   Euro central bank holds at 2.5%

   The European Central Bank held its main deposit rate at 2.5% on Thursday. [22] It sets interest rates for the 21 countries that use the euro. [22] Prices in those countries rose 3.8% in the year to September. [22] That is almost double the bank's goal of 2%. [22] It raised rates twice this year, the latest in September, as war pushed energy prices up. [22] It said borrowing had already got dearer since its last meeting. [22] France's ten-year borrowing cost stood near 5% on Thursday. [22]

   Why it matters — The decision came hours after Christine Lagarde said she would leave as president on 7 February. [22] The bank said it is not committing to any path for its rates. [22]

5. 06

   Japan's central bank says its price goal is met

   The Bank of Japan kept its main rate at 1.25% on Friday, its highest since 1995. [23] For the first time since 2013, it said underlying prices match its 2% goal. [23] 8 of its 9 board members voted to hold the rate. [23] The ninth, Hajime Takata, wanted a rise to 1.5%. [23] Prices in Tokyo, leaving out fresh food, rose 2.6% in October. [26] Japanese pay after rising prices grew 1.5% in August, its eighth monthly rise in a row. [23] The yen rose 0.24% to 157.34 to the US dollar after the decision. [25]

   Why it matters — All 16 economists CNBC asked expect a rate rise in December or January. [23] Most analysts Reuters polled expect the rate to reach 1.5% in December. [24]

6. 07

   Thrive buys ADT for $7.6bn

   Thrive Holdings agreed on Thursday to buy ADT, a US home security company, for $7.6 billion. [27] Counting ADT's debts, the deal is worth about $15.3 billion. [27] Shareholders get $10 a share in cash, about 35% more than the shares last traded at. [27] ADT's shares jumped about 34% on Thursday. [28] Josh Kushner's venture firm, Thrive Capital, set up Thrive Holdings last year. [27] It buys older businesses and tries to improve them with technology, including AI. [27]

   Why it matters — ADT was taken private once before, by Apollo in 2016, and listed again in 2018. [27] The deal should close in early 2027 and take ADT off the stock market. [27]

7. 08

   DoorDash agrees to buy Instacart for $17bn

   DoorDash, a US food delivery app, agreed on Thursday to buy Instacart for $17 billion. [29] Instacart delivers groceries from shops in the US and Canada. [29] DoorDash will pay $65 a share, 11% more than where Instacart's shares last traded. [28] In five years DoorDash's share of US delivery spending rose from 44% to 59%. [29] Instacart's share fell from 26% to 18% over the same years, Consumer Edge says. [29] Instacart's brand and app will stay, and shops can work with either company. [29]

   Why it matters — DoorDash's shares rose 5.6% on Thursday. [6] It is unclear what happens to Instacart's deliveries for Walmart, which DoorDash dropped in 2022. [29]

8. 09

   Caterpillar has its worst day since 2020

   Caterpillar, which makes power generators used at data centres, fell 9.3% on Thursday. [6] It was the shares' worst day since March 2020. [6] Its profit beat forecasts, at $7.20 a share against $7.08 expected. [28] But sales of its construction machines came in slightly below forecasts. [28]

   Why it matters — Caterpillar fell on the same day doubts about AI spending hit tech shares. [6]

9. 10

   Marvell falls on talks to buy Lumentum

   Marvell Technology, a chip maker, is in talks to buy Lumentum, Bloomberg News reported. [28] Lumentum makes optical parts used in data centres. [28] Reuters said the talks are advanced. [12] A deal could be announced as soon as next week, the report said. [28]

   Why it matters — Marvell's shares dropped more than 11% on Thursday, and Lumentum's rose 3%. [28]

10. 11

    Norwegian Cruise Line jumps 13%

    Norwegian Cruise Line's shares jumped about 13% on Thursday. [31] It earned $1.12 a share before one-off items, against $0.94 expected. [31] Sales were $2.95 billion, above the $2.88 billion analysts expected. [31] It raised its profit forecast for the year to about $1.70 a share. [31]

    Why it matters — Bookings have improved a little but remain below where it wants them. [31] Its finance chief, Mark Kempa, will step down after more than 25 years. [31]

11. 12

    Starbucks' US cafes recover

    Starbucks said sales at US cafes open at least a year rose 7.7% last quarter. [32] Worldwide, those sales rose 7.2%, beating the 6% analysts expected. [32] Total revenue fell 4% to $9.14 billion, partly after a China joint venture deal. [32] Profit rose to $677.2 million, from $133.1 million a year earlier. [32]

    Why it matters — Starbucks expects revenue to fall 1% next year; analysts expected 1.4% growth. [32] It expects slightly lower coffee prices to weigh on revenue next year. [32] Starbucks shares fell nearly 2% after hours. [32]

12. 13

    Rivian's cheaper SUV becomes its best seller

    Rivian, a US electric car maker, delivered a record 19,248 vehicles from July to September. [33] Its new R2, a cheaper SUV, became its best-selling model. [33] It lost $913 million, less than the $1.17 billion it lost a year earlier. [33] Its loss before one-off items was $0.48 a share; analysts expected $0.61. [34] It now expects to deliver 67,000 to 70,000 vehicles this year. [33] It also plans to spend $300 million less on buildings and equipment than it said before. [33]

    Why it matters — Its shares rose about 5% after hours, after touching a 52-week low that day. [33]

13. 14

    Coinbase returns to profit

    Coinbase, a US exchange for cryptocurrencies, made a profit after three quarters of losses. [35] Gains on the crypto it holds helped. [35] Fees from customers' trades fell 43% to $590.2 million. [35] Prediction markets, where people bet on events, brought in more than $200 million. [35]

    Why it matters — Its shares fell 3.3% after the results. [35]

14. 15

    TotalEnergies' profit more than doubles

    TotalEnergies, a French oil and gas company, earned $9.1 billion from July to September. [36] That was up 127% from $4.0 billion a year earlier. [36] Analysts had expected $8.3 billion. [36] Its refining arm, which turns crude oil into fuel, had a record $3.6 billion quarter. [36]

    Why it matters — The Iran war has kept world fuel supplies tight, so refiners earn more on each barrel. [36]

15. 16

    Bank of America sees a bubble warning

    Bank of America analysts see a pattern in shares that came before the 2000 crash. [37] Investors worried about AI are buying safer areas such as healthcare. [37] This year healthcare shares are up 15%, materials 14% and everyday goods 12%. [37] Energy shares are up 52%, mostly because of the Iran war. [37] A similar run came before the 2000 peak and the 2020 crash, the bank says. [37]

    Why it matters — The bank also said markets may be close to a "clearing event for risk". [37]

16. 17

    Mainland investors leave Hong Kong shares

    Mainland Chinese investors sold a net HK$24 billion of Hong Kong shares so far in October. [38] That is about $3.1 billion. [38] They trade through a link between the mainland's markets and Hong Kong's. [38] It is on track to be the biggest monthly outflow since 2021. [38] The Hang Seng index has lost 6.7% so far this month. [38] Chip maker SMIC, Alibaba and Xiaomi were among the shares they sold most. [38]

    Why it matters — Mainland buyers usually hold Hong Kong up in a fall, so their exit could deepen it. [38] One strategist said the market could fall another 10% to 15% before it finds a bottom. [38]

17. 18

    Japan begins its biggest index overhaul

    Japan's Topix, a share index run by Japan Exchange Group, began its biggest overhaul on Friday. [39] About 700 companies may be dropped, leaving fewer than 1,000 in the index. [39] Their weight in the index will be cut to zero over eight quarters. [39] A company can stay if it meets the rules on trading and size by October 2027. [39]

    Why it matters — Some investors hope the rules push firms to raise their value to stay in. [39]

18. 19

    Indian shares see broad selling

    More Indian shares fell than rose so far in October, the weakest spread in seven months. [40] So far in October, 2,399 shares rose on India's BSE exchange and 2,709 fell. [40] Foreign investors have taken about $31 billion out of Indian shares this year. [40] The Nifty 50 index is down about 13% this year, among Asia's worst. [40]

    Why it matters — High oil prices, war in West Asia and high bond yields weigh on buyers. [40]

19. 20

    Trent rises 6% after profit grows 25%

    Trent, a Tata Group fashion retailer, jumped over 6% in early trade on Friday. [41] Its profit rose 25.3% to 468.09 crore rupees in the quarter to September. [41] Its sales rose 21.9% to 5,873.14 crore rupees. [41] It opened its 1,000th Zudio shop during the quarter. [41]

    Why it matters — Its profit margin before some costs rose to 18.2% from 17%. [41]

20. 21

    Coal India's profit jumps 57%

    Coal India, the state-owned coal miner, said its profit rose 57% in the quarter to September. [42] Profit reached 6,547 crore rupees, from 4,167 crore a year earlier. [42] Higher revenue drove the rise. [42] It will pay shareholders a dividend of 10.25 rupees a share. [42]

    Why it matters — Shareholders on its register on 4 November will get the payment. [42]

21. 22

    Shanghai stops a duty-free metal service

    The Shanghai Futures Exchange stopped settling copper and aluminium deals from duty-free warehouses. [43] Those warehouses let traders hold metal without paying China's import taxes. [43] That let traders sell the metal abroad when prices there were better. [43] The exchange said interest in the service had faded, two people told Bloomberg. [43] Chinese importers now pay over $200 a tonne above London prices, near a record. [43]

    Why it matters — Some analysts see it as a guard against a squeeze, as China's copper stocks are low. [43]

22. 23

    Canada's dollar hits a six-week high

    The Canadian dollar hit its strongest level in six weeks on Thursday. [44] It touched 1.3966 Canadian dollars to one US dollar. [44] On Wednesday Canada's central bank raised its rate to 2.50%, while the US one held. [44] That cut the gap between two-year rates in the two countries to about 128 basis points. [44] A basis point is a hundredth of a percentage point. [21]

    Why it matters — Traders said the smaller gap gave them confidence to keep buying the Canadian dollar. [44]

23. 24

    Rio Tinto stops digging under Oyu Tolgoi

    Rio Tinto paused underground work at Oyu Tolgoi, a big copper mine in Mongolia. [45] A tremor late on Thursday caused a rockfall that injured 3 workers. [45] Work stays paused until a safety review is finished, the company said. [45] Rio Tinto owns 66% of the mine and Mongolia's government owns 34%. [45] Rio expects Oyu Tolgoi to be the world's fourth-largest copper mine by 2030. [45]

    Why it matters — US copper prices are already up 17% this year on fears of short supply. [45]

24. 25

    UK budget leaves a 28bn pound gap, think tank says

    The Institute for Fiscal Studies, a UK research group, criticised Wednesday's budget. [46] It said finance minister John Healey needed to set aside another 28 billion pounds a year. [46] That would cover rising prices and defence spending of 3% of national output by 2030. [46] Without it, some departments face real cuts, said its director, Helen Miller. [46] Healey said the benefits bill must come down, then said he had set no timetable. [46]

    Why it matters — UK welfare spending, 334 billion pounds last year, is forecast to reach 431 billion by 2030. [46]

25. 26

    Rolls-Royce gets 1.25bn pounds for a new engine

    The UK budget gave Rolls-Royce, a jet engine maker, 1.25 billion pounds of public money. [47] It will help pay for UltraFan, an engine for single-aisle passenger planes. [47] Rolls-Royce is worth about 105 billion pounds on the stock market. [47] It plans to spend up to 9 billion pounds buying back its own shares this year. [47] About 80% of such engines would be sold abroad, the Guardian's columnist writes. [47]

    Why it matters — Rolls-Royce has no place yet on an Airbus or Boeing single-aisle plane. [47] Whether it wins one will not be known until around 2030. [47]

26. 27

    TPG puts a third of a $10bn climate fund to work

    TPG, a big private equity firm, has invested nearly a third of a $10 billion fund. [48] It closed the fund, Rise Climate II, less than a month ago. [48] It backs clean power, cleaner transport and industry in the US, Europe and poorer countries. [48] TPG said its profit rose 33% in the third quarter. [48]

    Why it matters — Its chairman, Jim Coulter, said power shortages are helping renewables become the main supply. [48]

27. 28

    Qatar's wealth fund doubles its New York team

    The Qatar Investment Authority, the country's state wealth fund, is doubling its New York team. [49] The team will grow to about 45 people. [49] Its chief said it still plans to invest $500 billion in the US over ten years. [49] The money is expected from Qatar's growing exports of liquefied natural gas. [49]

    Why it matters — He said the US makes up 25% of world output and 60% of tradable financial assets. [49]

28. 29

    Egyptians abroad send home more money

    Egyptians working abroad sent home $33.9 billion in the first eight months of 2026. [50] That was 27.2% more than a year earlier. [50] Such money now earns Egypt more foreign currency than tourism or the Suez Canal. [50] For all of 2025 the total was $41.5 billion, up from $29.6 billion in 2024. [50]

    Why it matters — The flows rose after Egypt changed how its exchange rate is set, in March 2024. [50]