Quick overview
- Microsoft and Alphabet’s earnings reports will be closely watched for insights on cloud demand and infrastructure costs.
- GE Vernova’s results will provide updates on power equipment orders and the energy sector’s outlook.
- ServiceNow’s performance will be evaluated for enterprise software demand and subscription revenue growth.
- T-Mobile’s report will focus on subscriber trends and competitive dynamics in the telecommunications market.
Microsoft, Alphabet, GE Vernova, ServiceNow and T-Mobile headline Wednesday’s earnings calendar, with investors watching cloud growth, infrastructure spending, software demand, power equipment orders and wireless subscriber trends.
Wednesday’s reports will test expectations across several major market themes. Microsoft and Alphabet could shape technology sentiment as investors assess cloud demand against rising infrastructure costs. GE Vernova offers insight into the power equipment cycle, while ServiceNow will test enterprise software spending and T-Mobile will provide an update on wireless demand.
Earnings Calendar Highlights — Wednesday
The main risk is that strong earnings may not be enough to sustain share prices if guidance disappoints or capital expenditure rises faster than revenue. Investors are likely to focus on forward growth, margins and cash flow rather than headline earnings beats alone.
– Microsoft (MSFT) — Q1 FY2027, after market close (AMC)
Expected EPS: $4.72. Investors will focus on Azure cloud growth, enterprise software demand and capital expenditure linked to data centers. Microsoft’s results could influence sentiment across the technology sector, particularly as investors question whether heavy infrastructure spending can generate sufficient revenue and returns. Guidance on cloud demand, operating margins and future investment will be just as important as the headline earnings figure.
– Alphabet (GOOGL) — Q3 2026, after market close (AMC)
Expected EPS: $3.00. Attention will center on Google Search advertising, YouTube revenue and Google Cloud performance. Investors will also examine whether cloud growth can justify rising infrastructure costs and whether advertising demand remains resilient. Developments in Google’s Gemini products and competitive pressure across search and cloud computing could influence the outlook, while elevated spending may put pressure on margins and cash flow.
– GE Vernova (GEV) — Q3 2026, before market open (BMO)
Expected EPS: $4.01. The energy equipment company will be watched for demand across gas turbines, power generation equipment, grid infrastructure and services. Rising electricity demand from data centers has strengthened interest in power infrastructure, but investors will assess whether that demand is translating into orders, stronger margins and improved cash generation. Backlog growth and management’s outlook will be key indicators.
– ServiceNow (NOW) — Q3 2026, after market close (AMC)
Expected EPS: $1.02. Investors will look for continued subscription revenue growth, new customer commitments and enterprise software demand. The company’s ability to expand margins while maintaining strong contract growth will be important. Investors may also scrutinize whether new automation products are generating meaningful incremental revenue or adding to development and infrastructure costs. Forward guidance could determine the stock’s reaction even if quarterly results beat expectations.
– T-Mobile US (TMUS) — Q3 2026, after market close (AMC)
Expected EPS: $2.91. Subscriber additions, customer retention, service revenue and average revenue per user will be central to the report. Investors will also watch operating costs, network investment and guidance for future customer growth. Competitive pricing from rival wireless operators and developments involving satellite-to-mobile services could influence expectations for the telecommunications sector.
Forex Signals Update
Gold Capped by the 20 SMA
Gold prices experienced a volatile trading week, ultimately finishing significantly lower after an initially strong rally lost momentum. The precious metal climbed above $4,300 early in the week but later reversed sharply, ending nearly $100 below its recent highs as investors reassessed the outlook for interest rates and global risk sentiment.
The decline was largely driven by a stronger U.S. dollar, rising Treasury yields, and reduced demand for defensive assets following positive geopolitical developments in the Middle East. Despite the weakness, gold remains above the critical $4,000 support zone, which continues to define the longer-term bullish trend but it is under attack.
MAs Hold as Support for USD/JPY
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED. The price climbed to $164 but reversed after the BOJ meeting and fell 7 cents, breaking below the 100 daily SMA (red) as well, which has been acting as support before.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Faces the 100 SMA as Resistance
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down to $80K before finding support at the 100 weekly SMA (green) which might turn into resistance at 90K now, after the rebound.
BTC/USD – Daily Chart
Ethereum Returns Above $2,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2,000 but buyers returned and pushed the price above $2K again.
ETH/USD – Weekly Chart
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
