Next week's macro outlook: The Federal Reserve will announce its interest rate decision on Thursday, and three major cloud giants will release their earnings reports.

BlockBeats news, October 25 — In the past week, the market's focus shifted twice. Early in the week, US chip and AI concept stocks rebounded from a sharp sell-off, and capital began rotating into healthcare and financial sectors; on Wednesday, after Meta announced a massive capital expenditure plan, market concerns about AI valuations and returns were reignited; on Thursday, the sell-off spread across the entire tech sector, with safe-haven funds flowing into US Treasuries and the Japanese yen. On the same day, Houthi attacks on Saudi energy facilities pushed Brent crude to a five-month high. Below are the key points the market will focus on in the new week (all Beijing time):

Thursday 02:00, the Federal Reserve FOMC announces its interest rate decision;

Thursday 02:30, Federal Reserve Chair Warsh holds a monetary policy press conference;

Thursday 20:30, US third-quarter real GDP annualized quarter-on-quarter preliminary value, US September core PCE price index year-on-year, US September PCE price index year-on-year, US initial jobless claims for the week ending October 24, US September personal spending month-on-month;

Thursday 21:15, the European Central Bank announces its interest rate decision;

Thursday 21:45, European Central Bank President Lagarde holds a press conference;

Friday, the Bank of Japan announces its interest rate decision;

Friday 14:30, Bank of Japan Governor Ueda holds a press conference.

US stocks will usher in the busiest week of this earnings season next week, with about one-third of S&P 500 constituents set to report results. After the US market close next Wednesday, Microsoft and Alphabet will be the first to report earnings, and Amazon will follow after the close on Thursday.