00:00 Julie Hyman
Welcome to Yahoo Finance’s flagship show, the Morning Brief. I’m Julie Hyman.
00:05 Julie Hyman
Let’s get to the three things you need to know today.
00:08 Julie Hyman
First up, a massive Amazon web services outage, taking down major websites and platforms with it overnight.
00:15 Julie Hyman
Amazon now saying that the outages are easing. It’s seeing significant signs of recovery. Amazon, Robin Hood, Coinbase, Disney Plus and airlines among others all hit when the cloud provider said an operational issue affected multiple services.
00:27 Julie Hyman
Yet the outage not really a concern for investors. Amazon shares little changed ahead of the open.
00:32 Julie Hyman
Meantime, futures are pointing to gains ahead of a big week for earnings, markets higher across the board with the Nasdaq the top performer.
00:39 Julie Hyman
Investors will be watching key results from Netflix, Coca-Cola, GM as the reporting season heats up.
00:46 Julie Hyman
Also key this week, more regional bank results and developments developments around trade with China.
00:51 Julie Hyman
And the delayed September Consumer Price Index report finally coming out on Friday. It’ll be the Federal Reserve’s last look at inflation ahead of next week’s rate decision.
00:58 Julie Hyman
While the market does expect a cut, beyond that, the outlook is murkier because of the government shutdown. Agencies haven’t been able to collect data.
01:05 Julie Hyman
The September CPI data is crucial for social security recipients in particular, as part of the it’s part of the formula used to calculate the cost of living adjustments for the next year.