Asian stocks rise slightly as Alphabet drop revives AI spending doubts; Fed pauses
According to TradingView, Asian shares edged higher as Alphabet's slump renewed AI spending fears, while the Fed voted 10-2 to keep rates at 3.75%-4%.
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what happened
Asian stock markets moved modestly higher on October 29, according to TradingView, even though Alphabet's shares slid and renewed doubts about the huge sums companies are putting into artificial intelligence. The MSCI Asia Pacific index rose 0.3%, led by Japan and South Korea: the Nikkei 225 gained 0.80%, the Kospi 0.57%, while the Topix dipped 0.21%. Hang Seng futures were up 0.1%. In India, Jio Platforms debuted on the exchange on Wednesday at ₹1,358 per share, a 21% premium to its ₹1,119 issue price, lifting Reliance Group to the top of the market-capitalisation rankings.
In the US, Nasdaq 100 futures fell 0.9% and S&P 500 contracts lost 0.4% after Alphabet dropped 10% in extended trading, as its sales missed forecasts. Microsoft gained 2.8% after the bell on solid cloud revenue, and Oracle jumped 11%. The Federal Reserve voted 10-2 to leave its benchmark rate at 3.75% to 4%. Chair Kevin Warsh told reporters the central bank was ready to act as circumstances required. Yields on short-dated Treasuries fell as traders reconsidered their rate bets. Oil slipped as diplomatic efforts in West Asia aimed to head off renewed US strikes on Iran. Brent traded near $114.71 a barrel, while WTI fell 0.8% to $101.99.
why it matters
Investors are now focused on two questions: whether results from big tech firms can support the AI-driven rebound, and whether US economic data will keep the Fed on the sidelines through year-end. Renewed tension with Iran could push crude higher and complicate the inflation outlook.
market impact
US tech futures: Alphabet's miss weighs on the sector; oil depends on Iran headlines and Fed rate bets
- Nasdaq 100 futures pressure down — Alphabet's weak sales add to worries about AI spending
- Brent crude mixed — supply risks from Iran tensions compete with diplomatic efforts to calm them
- Short-dated US Treasuries pressure up — yields fell after traders revised their expectations for Fed rates
tags
instruments
sources
- Asian stocks edge higher despite Alphabet slump reviving AI spending concerns; US Fed holds rates — TradingView, 29 October 2026 at 01:25 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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