Microsoft up, Google down, and a Fed that talked like it was hiking.

Microsoft up, Google down, and a Fed that talked like it was hiking.Thursday 29 October. Microsoft’s Azure grew nearly 50% to $33 billion, with a $677 billion backlog, and the market called it the most responsible approach to AI spending. Google Cloud grew 103%, but free cash flow went negative and the stock fell around 11% after hours. Free cash burn, not growth, is what the market is pricing right now, as Meta also found out.

Also on the call: a hawkish Fed press conference, chip stocks surging again, ServiceNow’s 16% fall, Australian CPI at 4.3% derailing the ASX, US rail and industrial strength, uranium and critical minerals, and what to watch with Amazon, Apple, Intel, Mastercard, Merck and Eli Lilly tomorrow.

Free Mosaic with a Platinum subscription for the rest of 2026: [LINK – confirm]

General advice warning: This podcast contains general advice only and has been prepared without taking into account your objectives, financial situation or needs. Consider whether it is appropriate for you, and read the relevant PDS and FSG at mpcmarkets.com.au. MPC Markets is a CAR of LeMessurier Securities Pty Ltd, AFSL 296877.