Five things you need to know before the market opens on Tuesday October 24:
1. -- Stock Market Today: Treasury rebound gives stocks a lift; mega-cap tech earnings on deck
Investors are waking up to a huge day on Wall Street, with a host of third quarter earnings, PMI data, a 2-year note auction and mega-cap tech updates all on the slate.
2. -- Nvidia extends gains amid reports it's taking on Intel in PC chip market
AI leader Nvidia is reportedly looking to leverage technology from Arm Holdings to make chips for the PC market in what could be a major challenge to Intel.
3. -- Microsoft - Microsoft earnings on deck with AI boost, Azure cloud growth in focus
Microsoft, which fired the starting gun on the 2023 AI frenzy through its investment in ChatGPT creator OpenAI, is still likely to rely on revenue growth from its legacy cloud unit to power first quarter earnings.
4. -- General Electric surges on Q3 earnings beat, 2023 profit forecast boost
GE Aviation once again powered the group's third quarter top and bottom lines, with GE now forecasting full-year free cash low north of $5 billion.
5. -- GM earnings blast forecasts, but $200 million a week strike costs torpedo 2023 outlook
GM said the historic UAW strike action is costing it $200 million a week, forcing it to pull its 2023 profit forecasts despite better-than-expected third quarter earnings.
