1) Alphabet and Microsoft 3Q21 earnings beat expectations
Alphabet’s earning per share in the third quarter of 2021 was $27.99 per share, beating the estimate of $23.48 per share as Google’s advertising revenue rose 43% to $53.13 billion. Meanwhile, Microsoft reported an EPS of $2.27 per share, beating $2.07 expected by analysts as revenue grew significantly.
2) China industrial profits increases 16.3% in September
Industrial profits in China surged 16.3% compared to last year’s September, according to data released by China’s National Bureau of Statistics. The pace accelerated from a 10.1% gain in August.
3) CDC extended restrictions on cruise to January
The Centers for Disease Control and Prevention extended restrictions on the cruise ship industry into January, allowing the operation to continue but requires masks onboard and vaccinations or testing of passengers and crew along with other safety measures. The restriction was about to expire on November 1, 2021.
4) Oil prices slowed down amid rising U.S. oil inventories
Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose 2.3 million barrels in the week ending October 22, which was higher than the expectations for a 1.9 million barrel gain.