The Federal Reserve held interest rates steady, but Chair Kevin Warsh indicated that increases could come in the future, fueling fears of persistent inflation. Samsung and Alphabet missed third-quarter earnings expectations, with Samsung shares falling 4% in South Korea and Alphabet losing 10% in overnight trading. Nasdaq futures dropped more than 1%, while Microsoft gained 3.39% after beating revenue forecasts and lowering its capital expenditure guidance. Goldman Sachs estimates that artificial intelligence could add 23 basis points to inflation in U.S. consumer spending, driven in part by rising memory prices. Separately, Oxford Economics says France is approaching a fiscal breaking point, while U.S. tariffs nearly threatened Spirit Halloween’s supply chain.
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