What are today's top business/market headlines?

I'll fetch the latest business and market headlines for you.To get more precise details on the top stories, I'll check a couple of leading sources.Today’s top business and market headlines (as of October 29, 2026) center on big tech earnings (especially AI spending concerns), U.S. economic data, a major delivery deal, crypto security issues, and central bank developments. Here’s a roundup of the leading stories:[1]

Markets & Big Tech Earnings

•Alphabet (Google) suffers historic drop: Shares plunged ~12–13%, erasing over $500 billion in market value in its worst single-day performance. The company missed on revenue/earnings expectations amid slowing search growth, heavy AI spending (capex topping $50B+ in the quarter), and negative free cash flow (~$9B). Strong Google Cloud growth (over 100% in some reports) was overshadowed. This dragged the Nasdaq Composite down ~1.4% and the S&P 500 ~0.3% (Dow also modestly lower); most other stocks held up better.[2]

•Amazon and Intel post weak results after hours: Amazon missed revenue and EPS estimates, reported large negative free cash flow (~$42B) tied to AI/data center spending (reaffirming high 2026 capex), and saw slower online business growth—though AWS cloud rose ~39% (fastest in years). Shares fell ~6–7% extended. Intel plunged ~20–23% on a weak Q4 outlook, PC demand slowdown, and mixed AI impacts. Tech futures (Nasdaq-100) dropped further into the evening. Microsoft had stronger results earlier (Azure strength). Overall AI trade scrutiny intensified, with concerns over returns on massive data center investments.[1]

•Broader market wrap: U.S. stocks mixed-to-lower on the day (tech-led), with rotation out of some AI names. Asian markets followed lower in early Friday trading (e.g., Kospi sharp drop). Oil pulled back somewhat; crypto sold off.[3]

U.S. Economy & Fed

•Strong Q3 GDP but sticky inflation: The U.S. economy grew at a brisk 3.4% annualized pace (faster than prior quarter and expectations), driven by consumer spending and AI-related investment. However, the Fed’s preferred PCE inflation measure came in hot (~3.6–3.7%), painting a mixed picture ahead of midterms.[4]

•Fed holds rates steady: The previous day’s decision left rates unchanged (with some dissents), upgrading the economic outlook while noting elevated inflation. Markets price in a possible December hike; focus remains on upcoming data.[5]

Deals & Other Corporate News

•DoorDash to acquire Instacart for $17 billion: Major consolidation in grocery/restaurant delivery, combining the top U.S. players.[6]

•Other earnings notables: Caterpillar beat but stock reacted cautiously; Shell plans $5B buyback after strong results (elevated energy prices); Volkswagen reports worst results in a decade amid China weakness and restructuring needs; various chip/memory names mixed.[7]

Crypto & International

•Binance investigates potential hack/security issue: Crypto firms (including Tether and Circle) froze more than $2.5 billion in funds; withdrawals halted in places; Bitcoin and crypto prices tumbled (e.g., BTC below $78k in some reports).[8]

•ECB’s Christine Lagarde to step down early: For “freedom of speech”; ECB held rates and signaled readiness to intervene in markets if needed. Other European/auto weakness noted (e.g., VW, German carmakers).[6]

Additional notes include Meta internal discussions, Russian diesel tankers heading to the U.S., and various midterm/political economy angles. Markets remain focused on whether AI investments will deliver returns amid high spending and mixed growth signals. For the absolute latest, check live sources like Bloomberg, CNBC, or Reuters, as after-hours and overnight moves (especially Asia) continue.

Citations (8)

1cnbc.comNews and mediaquality 0.85
https://www.cnbc.com/2026/10/29/stock-market-today-live-updates.html
Backs: “I'll fetch the latest business and market headlines for you.To get more precise details on the top stories, I'll check a couple of leading sources.Today’s top business and market headlines (as of October 29, 2026) center on big tech earnings (especially AI spending concerns), U.S. economic data, a major delivery deal,…”
2semafor.comNews and media
https://www.semafor.com/vertical/business
Backs: “Strong Google Cloud growth (over 100% in some reports) was overshadowed. This dragged the Nasdaq Composite down ~1.4% and the S&P 500 ~0.3% (Dow also modestly lower); most other stocks held up better.”
3bloomberg.comNews and mediaquality 0.84
https://www.bloomberg.com/
Backs: “stocks mixed-to-lower on the day (tech-led), with rotation out of some AI names. Asian markets followed lower in early Friday trading (e.g., Kospi sharp drop).”
4rutlandherald.comNews and media
https://www.rutlandherald.com/news/business/ap-business-summarybrief-at-4-51-p-m-edt/article_53d65607-3f87-53e4-b929-3f9f667600cc.html
Backs: “economy grew at a brisk 3.4% annualized pace (faster than prior quarter and expectations), driven by consumer spending and AI-related investment. However, the Fed’s preferred PCE inflation measure came in hot (~3.6–3.7%), painting a mixed picture ahead of midterms.”
5morningstar.comData and tools
https://www.morningstar.com/news/dow-jones/202610292733/dow-jones-top-markets-headlines-at-3-am-et-the-fed-held-steady-on-rates-leaving-investors-to-sit-tight-too-the
Backs: “The previous day’s decision left rates unchanged (with some di”
6theguardian.comNews and mediaquality 0.75
https://www.theguardian.com/business
Backs: “Deals & Other Corporate News. DoorDash to acquire Instacart for $17 billion: Major consolidation in grocery/restaurant delivery, combining the top U.S.”
7morningstar.comData and tools
https://www.morningstar.com/news/dow-jones/202610298239/dow-jones-top-company-headlines-at-7-am-et-caterpillars-strong-earnings-fail-to-calm-wall-streets-nerves-shell
Backs: “Caterpillar beat but stock reacted cautiously; Shell plans $5B buyback after strong results (”
8newsnow.comNot yet classified
https://www.newsnow.com/us/Business
Backs: “Binance investigates potential hack/security issue: Crypto firms (including Tether and Circle) froze more than $2.5 billion in funds; withdrawals halted in places; Bitcoin and crypto prices tumbled (e.g., BTC below $78k in some reports).”