Split Close After the Fed: Alphabet, ServiceNow and After-Bell Results | October 29 After Close
The first completed U.S. regular session after the Federal Reserve held rates finished with a split across the major ETFs. SPY closed at $769.36, down 0.38%; QQQ at $715.34, down 1.42%; and IWM at $284.01, up 0.97%. These are October 29 regular-session closes. Amazon and Coinbase released results after that session, so the daily candles below do not reflect a response to those reports.
Growth and inflation backdrop
The BEA advance GDP estimate put third-quarter real growth at a 3.4% annual rate, versus 2.2% in the second quarter. The September PCE release put headline inflation at 3.6% year over year and core at 3.1%. Full-session ETF returns cannot isolate the effect of any one release.
SPY, QQQ and IWM: different closes
SPY: The $766.62 intraday low passed below its independently calculated 50-day average of $767.63, but the $769.36 daily close finished back above it. The 200-day average was $728.53. October 23's $758.68 intraday low and October 6's $781.62 high are dated range references. A later close below the 50-day would put SPY back under that line.
QQQ: The entire October 29 daily range, including its $718.07 high, remained below the 50-day average of $725.41. The 200-day stood at $679.16. October 23's $701.16 intraday low and October 6's $762.86 high show the broader range; a daily close back above the 50-day would put the Qs above that average again.
IWM: Its $285.26 intraday high crossed the 50-day average of $284.64, but the $284.01 close was below it. IWM remained above its $278.64 200-day average. Preliminary daily share volume was below the prior 20-session average; this is an observed participation comparison, not a forecast. A daily close above the 50-day or below the 200-day would change its position relative to those lines.
Morning scenarios at the completed close
Alphabet Class A (GOOGL) closed at $283.82, down 12.64%. Its full session stayed below the October 26 intraday low of $316.60, and it finished below its $340.29 50-day and $340.94 200-day averages. Its early recorded premarket print near $290 did not represent a daily candle. Alphabet's third-quarter release reported strong Cloud revenue and negative company-defined quarterly free cash flow. Results and price moves do not establish one cause.
Microsoft (MSFT) closed at $530.14, down 0.16%, after an earlier recorded premarket gain. It remained above its $512.10 50-day and $437.61 200-day averages, while the day's high stayed below the October 13 intraday high of $551.15. A close above that dated high would be a new six-month high close; a close below the 50-day would put it under that average.
ServiceNow (NOW) closed at $109.67, down 26.95%. Its entire daily range stayed below the October 2 intraday low of $133.47. The close was beneath both its $139.18 50-day and $115.13 200-day averages. Its early premarket print near $122 was separate from the completed candle. The issuer release reported subscription growth; GAAP and adjusted margin measures must be kept distinct.
Qualifying watchlist: Top 5 Up and Top 5 Down
The separate written Movers board uses the same frozen October 29 qualifying-watchlist snapshot as this video: 275 observed symbols, 201 eligible U.S. stocks/ADRs above the $5 billion market-cap cutoff, with documented exclusions. It ranks that watchlist, not the entire market. GOOG and GOOGL are separate watched share classes of Alphabet.
| Up | Close | Change | Down | Close | Change |
|---|---|---|---|---|---|
| CVNA | $68.31 | +15.68% | NOW | $109.67 | -26.95% |
| CMG | $31.28 | +8.88% | FTNT | $139.10 | -20.09% |
| AVAV | $134.88 | +7.09% | MRVL | $218.34 | -13.24% |
| LLY | $1,373.70 | +6.63% | GOOGL | $283.82 | -12.64% |
| KTOS | $43.59 | +5.88% | GOOG | $282.32 | -12.29% |
Carvana Co. Class A (CVNA)
The completed close was above its 50-day average of $65.86 and below its 200-day average of $69.30.
Chipotle Mexican Grill, Inc. (CMG)
The completed close was below its 50-day average of $33.14 and below its 200-day average of $34.10.
AeroVironment, Inc. (AVAV)
The completed close was below its 50-day average of $141.82 and below its 200-day average of $186.69.
Eli Lilly and Company (LLY)
The completed close was above its 50-day average of $1,193.68 and above its 200-day average of $1,089.52.
Eli Lilly's release reported Q3 revenue of $24.397 billion, up 39%, and described about $900 million of benefits including a Jardiance milestone, alongside acquired research charges. The result and the share-price gain are separate observations.
Kratos Defense & Security Solutions, Inc. (KTOS)
The completed close was below its 50-day average of $45.46 and below its 200-day average of $64.58.
ServiceNow, Inc. (NOW)
The completed close was below its 50-day average of $139.18 and below its 200-day average of $115.13.
Fortinet, Inc. (FTNT)
The completed close was below its 50-day average of $171.64 and above its 200-day average of $128.09.
Marvell Technology, Inc. (MRVL)
The completed close was below its 50-day average of $243.70 and above its 200-day average of $182.62.
Alphabet Inc. Class A (GOOGL)
The completed close was below its 50-day average of $340.29 and below its 200-day average of $340.94.
Alphabet Inc. Class C (GOOG)
The completed close was below its 50-day average of $336.93 and below its 200-day average of $338.99.
Results released after the regular close
Amazon (AMZN) had closed at $243.79, down 4.25%, less than a dollar above its $243.38 200-day average and below its $254.67 50-day average. Its Q3 release reported sales of $201.9 billion, up 12%; AWS sales of $46.0 billion, up 39%; and operating income of $28.1 billion. Amazon's own free-cash-flow measure showed a $42.4 billion outflow for the trailing twelve months, not the quarter. The Q4 sales guide was $240-247 billion. The regular-session close preceded this release.
Coinbase (COIN) had closed at $160.59, down 1.07%, below its $180.32 50-day and $178.81 200-day averages. Its Q3 release reported $719 million in GAAP net income versus $78 million in non-GAAP adjusted net income. The adjusted reconciliation excludes $715 million in gains on crypto assets held for investment, among other adjustments. Adjusted EBITDA was $333 million, up 60% quarter over quarter. Prediction markets exceeded a $200 million annualized revenue run rate, not quarterly revenue. The completed daily candle preceded the release. No after-hours quote is used in this article.
The next completed session will show where these names close relative to the dated references. Market research only; not a recommendation to buy or sell.