Massive Amazon Web Services outage shows signs of easing, Apple upgraded to Buy from Loop Capital

Group 1: Amazon Web Services Outage - A significant outage at Amazon Web Services (AWS) affected major online platforms including Coinbase, Robin Hood, and Disney Plus, with nearly 100 services impacted [2][6][8] - AWS has reported that the outages are easing and recovery is underway, indicating that the situation is improving [1][7] - The outage highlights the reliance of many companies on a few dominant cloud providers, raising concerns about the interconnectedness of internet services [10][12] Group 2: Earnings Season and Market Outlook - Investors are optimistic about upcoming earnings reports from major companies such as Netflix, Coca-Cola, and Tesla, with futures indicating gains across the board [2][19][22] - Tesla is expected to report a revenue of approximately $27 billion for Q3, reflecting a 26.27% increase year-over-year, driven by record sales of 497,000 units [24][25] - General Motors anticipates a revenue of $45.16 billion, down 7% from the previous year, with a focus on its electric vehicle (EV) business and upcoming investments [27][28] Group 3: Consumer Price Index and Federal Reserve - The delayed September Consumer Price Index (CPI) report is set to be released, which is crucial for assessing inflation ahead of the Federal Reserve's rate decision [3][31] - The core CPI is expected to hold steady at 3.1%, while the headline CPI is projected to rise to 3.1% year-over-year, indicating inflation remains above the Fed's target [32][33] - The government shutdown has hindered data collection, complicating the Fed's ability to make informed monetary policy decisions [4][30] Group 4: Corporate Developments - Apple has received upgrades from analysts due to strong demand for the iPhone 17 series, which has outperformed the previous generation by 14% in initial sales [35][36] - Kering is selling its beauty division to L'Oreal for $4.7 billion, aiming to enhance its competitive position in the luxury market [36][37] - BNP Paribas shares have fallen to a six-month low following a court ruling that could lead to significant financial liabilities related to human rights violations [39][40]