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Microsoft and Meta earnings, Q3 GDP, housing: What to Watch

Josh Lipton and Julie Hyman

After Alphabet's (GOOG, GOOGL) earnings showcase on Tuesday, Microsoft (MSFT) and Meta Platforms (META) are the next Magnificent Seven tech stocks to report their third quarter results on Wednesday, October 30.

Other companies reporting earnings include Eli Lilly (LLY), Coinbase (COIN), and DoorDash (DASH).

Lastly, economists are estimating US pending home sales to have climbed 1.8% in September.

The US economy's third quarter GDP (gross domestic product) print is due out tomorrow morning

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Luke Carberry Mogan.

Video Transcript

Time now for to watch Wednesday, October 30th starting off on the earnings front.

We're just getting started two more magnificent seven names reporting tomorrow after the close Microsoft and Meta meta announcing third quarter results and analysts expecting strong a pricing for the third quarter and a raise in Capex fueled by A I sticking with earnings getting more big names tomorrow including Eli Lily, Caterpillar and Micro strategy.

Eli Lily reporting results for the third quarter in the morning after two guidance hikes already this year driven by the expansion of it D LP.

One drug analysts are not expecting the pharmaceutical giant to race again and take a look at the economy.

We're going to be getting a third quarter GDP in the morning growth expected to hold steady at 3%.

According to economists, the growth driven by consumer spending something we also saw indicated by yesterday's positive consumer confidence print and moving over to housing monthly pending home sales numbers for September coming out in the morning.

Economists forecast that number will increase to 1.8% month over month