Welcome to Yahoo Finance’s flagship program, the Morning Brief. I’m Julie Hyman.
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Let’s get to the three things you need to know today.
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First, a massive outage of Amazon Web Services, which took down major websites and platforms overnight.
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Amazon now says outages are decreasing. You are seeing important signs of recovery. Amazon, Robin Hood, Coinbase, Disney Plus and airlines, among others, were affected when the cloud provider said an operational issue affected multiple services.
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However, the disruption is not really a concern for investors. Amazon shares were little changed before the open.
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Meanwhile, futures are pointing to gains ahead of a big week for earnings, markets are up across the board and the Nasdaq is the top performer.
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Investors will be watching key results from Netflix, Coca-Cola and GM as the reporting season heats up.
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Also key this week are more results from regional banks and news regarding trade with China.
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And the long-delayed September consumer price index report will finally be released on Friday. It will be the Federal Reserve’s last look at inflation before next week’s interest rate decision.
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While the market expects a cut, beyond that the outlook is bleaker due to the government shutdown. Agencies have been unable to collect data.
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The September CPI data is crucial for Social Security recipients in particular, as part of the formula used to calculate cost-of-living adjustments for next year.