Market On Open - Wednesday 25 October

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If (Microsoft +13%) Then Recession =0

Yesterday Microsoft printed its Q3 numbers. A company with in excess of $200bn in trailing twelve month revenue declared that it was growing that revenue base at +13% since the same quarter last year, and +8% on a TTM basis vs. the same twelve month period a year ago. I think it unlikely that if MSFT is growing at that rate, the US economy is headed for a recession any time soon. That's hardly Nobel economics but as a lay observation I would say, if companies and consumers are increasing their spending on the stuff that Microsoft sells, probably they can also continue to afford the basics and a luxury or two.

MSFT stock was up after hours, which has the capacity to lift the Nasdaq and with it the S&P500; Google didn't fare so well, unfortunately, so we have to see how that shakes out today.

The Matter In Hand

Paying members, scroll right down for our latest take on markets. As always we look at the 10-year yield, the S&P500, Nasdaq-100, Dow Jones and the Russell 2000; we consider long-term and short-term outlooks, and we lay out staff personal account trading plans in each of the indices. We add Bitcoin and Ether futures pricing for good measure.

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