Key Highlights

  • Alphabet (NASDAQ:GOOGL) reports after the close on October 28, 2026 with an implied move of about 6.2%, and the Fed announces its decision earlier that day, according to published calendar data.
  • Amazon (NASDAQ:AMZN) is expected on October 29 with an implied move of about 7.7%, while Intel is priced for about 10.7%, based on one published calendar page for the week.
  • Exxon Mobil (NYSE:XOM) is scheduled to report on October 30 with Brent crude near USD 116, and Chevron reports the same day, though no consensus figures were captured for either.
  • United States Oil Fund (NYSEARCA:USO) is exposed to Iran headlines, with the US reserve at 282.6 million barrels, its lowest since 1982, and one report saying action is expected only after the November 3 midterms.

Amazon (NASDAQ:AMZN): AI capex test

Amazon (NASDAQ:AMZN) is expected to report on Thursday, October 29, 2026, and options markets imply a move of about 7.7% after the release. Intel is priced for about 10.7%. The same calendar lists several other large reporters. Merck (NYSE:MRK) is listed for Thursday, though that comes from one source. Mastercard (NYSE:MA) is listed on the same basis. Caterpillar (NYSE:CAT) is listed as well. Eli Lilly (NYSE:LLY) is on the same calendar. Starbucks (NASDAQ:SBUX) completes the large names. Coinbase and Strategy carry implied moves of about 10.0% and 9.3%. Consensus figures were not captured, and Apple's date was not found, so this is a preview. Options prices change as the date nears, so these figures can move. Investors want to know whether the cloud arm of the online retailer is growing fast enough to justify heavy capital spending, how consumer demand is holding up, and what the company says about logistics costs and AI. Intel will be read for signs of progress in its manufacturing plans and demand for its chips. The reports follow Alphabet and Microsoft on October 28 and come after Meta Platforms (NASDAQ:META) and Tesla reported the week before. Goldman Sachs estimates about USD 7.6 trillion of AI capital spending from 2026 to 2031, an estimate that frames the debate over whether spending will earn a return.

Exxon Mobil (NYSE:XOM): Cloud and consumer test

Exxon Mobil (NYSE:XOM) is due to report third-quarter results on Friday, October 30, 2026, according to published calendar pages. Chevron is scheduled for the same day. BP and AstraZeneca report alongside AbbVie, so the session mixes oil with pharmaceuticals. Consensus figures were not captured, so this article cannot say what is expected for earnings or revenue. Brent crude settled near USD 115.81 on October 26 in published market data, though one live blog put it at USD 110 to 112, and West Texas Intermediate settled at USD 101.57. Oil is up about 12% this month, and Brent reached a six-month high near USD 117 last week. The largest oil companies earn more when crude is high, because the price of what they sell rises faster than most costs. Investors will look at upstream production, refining margins, cash flow, buybacks and dividends, and at spending plans. Prices are being pulled in opposite directions by talks between the US and Iran and by Houthi attacks on Saudi Arabia, an attack the Houthis claimed and Saudi Arabia said it intercepted. The US Strategic Petroleum Reserve stands at 282.6 million barrels, its lowest since 1982, a thin cushion if fighting escalates. Windfall-tax debate may also affect sentiment, since high prices attract political attention.

Alphabet (NASDAQ:GOOGL): Oil major earnings

Alphabet (NASDAQ:GOOGL) reports after the market closes on Wednesday, October 28, 2026, and options markets imply a move of about 6.2% after the release. Microsoft is priced for about 5.5% in the same session. These implied moves measure how large a swing traders expect, not the direction, and they come from one earnings calendar page. The date agrees across three published calendars. Consensus for both companies was not captured, so this preview cannot compare results with expectations. Meta and Tesla (NASDAQ:TSLA) reported the week before, which means investors already have two data points on AI spending, one from social media and one from autos and robotics, before these two cloud giants report. Capital expenditure is money spent on data centres, chips and networks. Investors want to know whether the spending leads to revenue growth in cloud services and search, or whether it simply raises costs. Goldman Sachs estimates about USD 7.6 trillion of AI capital spending from 2026 to 2031, a forecast and not a fact. Concerns about funding are rising, as Meta announced plans on October 26 to raise up to USD 95 billion, with USD 35 billion of immediate equity and a USD 60 billion at-the-market programme. Investors will look at cloud growth, capex guidance, margins and any comment on power and chip supply.

United States Oil Fund (NYSEARCA:USO): Oil fund and Iran risk

A report on October 26, 2026 said most officials expect US action on Iran only after the November 3 midterm elections, which turns the vote into a perceived deadline for talks. It is a political timeline and not a market data point, and it has not been confirmed by officials on the record. Separately, reports say strike readiness of 96 hours was described, and that President Trump is weighing whether to finish the conflict or make a deal. Those items are reported and not confirmed. Houthi attacks on Saudi Arabia add pressure: the Houthis claimed an attack on Riyadh, while Saudi Arabia said its defences intercepted it. United States Oil Fund (NYSEARCA:USO) holds futures contracts on West Texas Intermediate crude, so its price follows the near-term futures curve and not the spot price alone. Brent settled near USD 115.81 and WTI at USD 101.57 on October 26, though one live blog put Brent at USD 110 to 112. Oil rose about 12% this month, and Brent touched a six-month high near USD 117 last week. The Strategic Petroleum Reserve at 282.6 million barrels is its lowest since 1982, according to two reports, which limits the government's ability to release more oil if prices spike.

Where Things Stand

The answer is that the next three days bring an AI capex test, a retail and cloud test and an oil earnings test, with Iran and the midterms in the background. Alphabet (NASDAQ:GOOGL) sets the tone on October 28. Amazon (NASDAQ:AMZN) follows on October 29. Exxon Mobil (NYSE:XOM) follows on October 30. United States Oil Fund (NYSEARCA:USO) tracks the price behind it all. Implied moves measure size, not direction, and the Iran timeline is reported and unconfirmed. This is not investment advice.