10月29日：纳斯达克期货周四下跌，Alphabet和微软公布的参差不齐的财报令投资者开始权衡重金投入人工智能的回报，同时市场的焦点也集中在美联储维持利率不变一天后即将公布的通胀数据上。
Oct 29 : Nasdaq futures dropped on Thursday as mixed earnings from Alphabet and Microsoft left investors weighing the payoff from heavy AI spending, with focus also on an inflation reading a day after the Federal Reserve left interest rates unchanged.
Alphabet盘前交易中下跌10.5%，此前该公司公布的核心搜索广告业务业绩令人失望，且由于倾注资源建设人工智能，其现金消耗急剧加速。
Alphabet slid 10.5 per cent in premarket trading after the company reported disappointing results in the core business of search advertising and a massive acceleration in cash burn as it poured resources into building out AI.
“投资者开始仔细审视变现时间表与资本支出消耗率之间的关系。一些投资者不再对所有超大规模云服务商无限制的花销给予‘免责通行证’，”Check Capital Management副总裁兼高级投资官杰里米·萨尔茨贝格（Jeremy Saltzberg）表示。
"Investors are starting to scrutinize monetization timelines versus the capital expenditure burn rates. Some investors are no longer giving all hyperscalers a 'free pass' to spend without limit," said Jeremy Saltzberg, VP and senior investment officer at Check Capital Management.
另一方面，微软上涨3.5%，此前该公司公布的现金流远超预期并预测了强劲的云业务增长，为其实施的大手笔人工智能押注正在发挥作用提供了新的证据。
On the other hand, Microsoft climbed 3.5 per cent after the company delivered a big cash-flow beat and forecast strong cloud growth, offering fresh evidence that its hefty AI bets were working.
其他盘初异动个股包括网络安全公司飞塔（Fortinet），其在公布第三季度财报后暴跌25.4%。软件制造商ServiceNow因第三季度利润逊于预期而下跌19%。
Other early movers included cybersecurity firm Fortinet, which tumbled 25.4 per cent after reporting third-quarter results. Software maker ServiceNow dropped 19 per cent after missing third-quarter profit estimates.
其他与软件相关的公司，包括Zscaler和Salesforce，也由于板块整体疲软而表现落后。
Other software-related companies, including Zscaler and Salesforce, were among the laggards in sector-wide weakness.
美满电子科技（Marvell Technology）下跌9.4%，此前有媒体报道称该公司正就收购数据中心光器件制造商朗美通（Lumentum Holdings）进行深入谈判。朗美通股价上涨4.3%。美满电子科技和朗美通未立即回应路透社的置评请求。
Marvell Technology fell 9.4 per cent after media reports said the company is in advanced talks to buy data-center optics maker Lumentum Holdings. Lumentum shares rose 4.3 per cent. Marvell and Lumentum did not immediately respond to Reuters requests for comment.
更广泛的半导体板块普遍走低，其中英伟达下跌1%，超威半导体（AMD）下滑3.3%，英特尔下跌3.6%。英特尔和亚马逊是周四收盘后发布财报的主要科技公司。
The broader semiconductor space was trading lower, with Nvidia down 1 per cent, AMD sliding 3.3 per cent and Intel off 3.6 per cent. Intel and Amazon are some of the major tech companies reporting after markets close on Thursday.
盘前发布财报的包括制药商默沙东（Merck）和礼来（Eli Lilly）、工程机械制造商卡特彼勒（Caterpillar），以及另类资产管理公司阿瑞斯管理公司（Ares Management）和蓝头Owl（Blue Owl）。
On the earnings docket before the bell are drugmakers Merck and Eli Lilly, construction equipment maker Caterpillar, and alternative investment managers Ares Management and Blue Owl.
美国东部时间凌晨4点09分，道指微型期货上涨185点，涨幅为0.35%，标普500指数微型期货下跌31点，跌幅为0.41%。纳斯达克100指数微型期货下跌365点，跌幅为1.22%。
At 4:09 a.m. ET, Dow E-minis were up 185 points, or 0.35 per cent, and S&P 500 E-minis were down 31 points, or 0.41 per cent. Nasdaq 100 E-minis were down 365 points, or 1.22 per cent.
与此同时，美联储周三一如预期维持利率稳定，选择将借贷成本的任何调整推迟到下周美国中期选举之后，同时等待更多通胀数据。
Meanwhile, the Federal Reserve held interest rates steady on Wednesday, as expected, opting to delay any changes to borrowing costs until after next week's US midterm elections while it awaits further data on inflation.
“维持利率不变的决定似乎是一个短暂停顿，以便在12月可能加息之前进行评估，而不是表明不需要进一步收紧政策，”阿伯丁（Aberdeen）美国高级经济学家乔恩·布彻（Jon Butcher）表示。
"The decision to hold seems to be a short pause to assess ahead of a likely policy hike in December, rather than an indication that no further tightening is needed," said Jon Butcher, a senior US economist at Aberdeen.
市场的焦点将放在当天稍晚公布的作为美联储首选通胀指标的9月个人消费支出报告上。第三季度GDP数据也即将发布。
Focus will be on the September Personal Consumption Expenditures report, the Fed's preferred inflation gauge, due later in the day. A third-quarter GDP reading is also set for release.
根据芝商所美联储观察工具（CME FedWatch Tool），交易员目前认为美联储在12月加息的概率超过81%，因为在中东冲突引发的石油冲击下，关键通胀指标依然居高不下。
Traders currently see a more than 81 per cent chance the Fed will hike interest rates in December, as per the CME FedWatch Tool, as key inflation metrics remain elevated amid the oil shock caused by the Middle East conflict.
根据伦敦证券交易所集团（LSEG）汇编的数据，货币市场参与者还预计到2027年中期将再加息一次。
Money market participants are also pricing an additional rate hike by mid-2027, according to data compiled by LSEG.
在其他股票中，汽车电商平台Carvana飙升9.2%，此前其第三季度营收超出预期；Chipotle墨西哥烧烤（Chipotle Mexican Grill）上涨6.7%，此前该公司公布的季度同店销售额好于预期。
Among other stocks, car e-commerce platform Carvana jumped 9.2 per cent after its third-quarter revenue surpassed estimates, while Chipotle Mexican Grill gained 6.7 per cent after reporting better-than-expected quarterly comparable sales.