Microsoft, Alphabet and Amazon Report October 28 and 29, Two Hours After the Fed: What Each Stock Did the Day After Every Report Since 2015

Microsoft and Alphabet report third-quarter results on Wednesday, October 28, 2026, after the close, about two hours after the Federal Reserve's rate decision at 2:00 p.m. Eastern. Amazon reports on Thursday, October 29, after the close. Apple is not in this week; it reports Monday, November 2, and Meta already reported on October 21. Visa (Tuesday), Mastercard, Eli Lilly and Intel (Thursday) and Exxon Mobil, Chevron and AbbVie (Friday) fill out the calendar.

Here is what the three stocks have actually done on the session after each of their reports since 2015, from the 8-K filings and the daily closes: Microsoft moved an average 4.2% and closed higher 27 times out of 47; Alphabet moved 4.3% and closed higher 28 of 48; Amazon moved 6.2% and closed higher 24 of 47, with a 5% or larger move on 60% of its report days. The three have reported in the same week 21 times since 2015, and in 9 of those weeks a Fed decision landed in the middle of it, as it will this week. The S&P 500 finished those nine weeks higher five times.

The schedule, with the Fed in the middle

• Tuesday, October 27: FOMC meeting begins. Visa after the close.
• Wednesday, October 28: Fed statement at 2:00 p.m. ET and the press conference at 2:30. Alphabet after the close (call at 4:30 p.m. ET). Microsoft after the close (webcast at 5:30 p.m. ET).
• Thursday, October 29: Mastercard and Eli Lilly before the open. Amazon and Intel after the close. Thursday's session is the reaction day for Microsoft and Alphabet, and it opens with the Fed decision fully priced.
• Friday, October 30: Exxon Mobil, Chevron and AbbVie before the open. Friday is Amazon's reaction day.

Sources: the companies' call announcements as compiled by Opening Bell Daily and the Fed's meeting calendar. Alphabet and Amazon set call times but did not say when results post; both have posted shortly after 4:00 p.m. ET in recent quarters. The October Fed preview covers what the decision itself might hold.

Microsoft: the day after every report since 2015

47 reports. Higher the next day 27 times (57%), median move +1.00%, average move 4.2% either way, 5% or more on 34% of them. The three largest: July 30, 2026 (+15.5%), April 24, 2015 (+10.5%) and October 23, 2015 (+10.1%). The last four: October 29, 2025 -0.1%, January 29, 2026 -10.0%, April 30, 2026 -3.9%, July 30, 2026 +15.5%.

October reports specifically: 2015 +10.1%, 2016 +4.2%, 2017 +6.4%, 2018 +5.8%, 2019 +2.0%, 2020 -5.0%, 2021 +4.2%, 2022 -7.7%, 2023 +3.1%, 2024 -6.1%, 2025 -0.1%. Microsoft gapped up at the open on 29 of its 47 report days and closed below that opening level on 19 of those 29; the first print is not the day.

Alphabet: the day after every report since 2015

48 reports (the first three as Google, before the holding-company change). Higher the next day 28 times (58%), median move +0.97%, average move 4.3%, 5% or more on 33%. The three largest: July 17, 2015 (+16.3%), April 26, 2024 (+10.2%) and April 30, 2026 (+10.0%). The last four: October 30, 2025 +2.5%, February 5, 2026 -0.5%, April 30, 2026 +10.0%, July 23, 2026 -7.1%.

October reports: 2015 +5.6%, 2016 +0.3%, 2017 +4.3%, 2018 -1.8%, 2019 -2.2%, 2020 +3.8%, 2021 +5.0%, 2022 -9.1%, 2023 -0.2%, 2024 +2.8%, 2025 +2.5%. Alphabet faded an opening gap up on 23 of 31 occasions.

Amazon: the day after every report since 2015

47 reports. Higher the next day 24 times (51%), a coin flip, but the moves are the biggest of the three: median +0.51%, average 6.2% either way, and 5% or more on 60% of report days. The three largest: July 31, 2026 (+15.3%), April 24, 2015 (+14.1%) and April 29, 2022 (-14.0%). The last four: October 31, 2025 +9.6%, February 6, 2026 -5.6%, April 30, 2026 +0.8%, July 31, 2026 +15.3%.

October reports: 2015 +6.2%, 2016 -5.1%, 2017 +13.2%, 2018 -7.8%, 2019 -1.1%, 2020 -5.4%, 2021 -2.2%, 2022 -6.8%, 2023 +6.8%, 2024 +6.2%, 2025 +9.6%. Three of the last four October reports produced a 6% or larger gain the next day; the fourth, 2022, was a 6.8% drop.

When all three report in the same week

It has happened 21 times since 2015, including the last three Octobers. The S&P 500 finished those weeks higher 12 times and averaged -0.09%, so the biggest earnings week of the quarter has not been a reliable up week or down week for the index. The widest: -5.56% in the week of October 26, 2020 and +4.28% in the week of July 25, 2022.

With a Fed decision in the same week, as this week has: 9 occasions, the index higher 5 times, average +0.06%. The two worst were January 2015 (-2.69%) and January 2018 (-3.88%); the best was July 2022 (+4.28%), when a 75-basis-point hike and three strong reports landed in the same 48 hours and the market rallied on both. The last two overlaps, October 2025 and April 2026, were +0.71% and +0.94%. Without a Fed decision, the 12 remaining weeks averaged -0.20%.

What this week is really about

• Capital spending. The three are the largest buyers of AI infrastructure in the world, and the quarterly capex number and the next-year guide have moved the stocks more than revenue in the last six quarters. Amazon's July 30, 2026 reaction (+15.3%) and Microsoft's July 29 reaction (+15.5%) both followed cloud growth re-accelerating on top of that spending; Microsoft's January 28, 2026 drop (-10.0%) followed a capex guide that outran the cloud number.
• Cloud growth rates. Azure, Google Cloud and AWS growth, stated year over year, are the three numbers that get quoted on Thursday morning. The reaction tends to follow the direction of the change from the prior quarter, not the level.
• The Fed, two hours earlier. Wednesday's statement sets the backdrop the reports land in, and the nine prior overlaps ran from -3.9% to +4.3% for the index in the week. The direction has come from the pairing of the two, not from either alone: in July 2022 a 75-basis-point hike and three well-received reports landed within 48 hours and the S&P 500 gained 4.3% on the week.

What this means if you hold them or trade them

• The gap is not the day. All three have closed below their opening gap-up more often than not (19 of 29 for Microsoft, 23 of 31 for Alphabet, 18 of 27 for Amazon). Chasing the 9:30 print has been the losing side of the trade.
• Size for the move you have seen, not the one you hope for. Average day-after moves of 4% to 6% mean a position sized for a normal day is three to four times too large for Thursday and Friday. The stop-loss guide covers how far a stop has to sit to survive a report-day range.
• Two reaction days, not one. Microsoft and Alphabet react Thursday, Amazon reacts Friday, and Thursday's reaction colors Friday's open. In October 2022 all three fell on their reaction days; in October 2025 Alphabet and Amazon rose while Microsoft was flat.
• The index does not care as much as the headlines suggest. The combined weight of the three in the S&P 500 is large, but the 21 same-week episodes above split almost evenly. Last week's Tesla and Super Micro posts cover how single-stock reactions are built; the Q3 earnings season calendar has the rest of the dates.

JorgAI's auto-trader does not take positions into earnings announcements on purpose: it scans and scores setups on each session's data, sizes under the member's caps, and the member's own stops and daily loss limit apply on reaction days like any other. Members who prefer to sit out report days can pause auto-trading from the dashboard and resume Friday afternoon. The start page walks through connecting a broker and setting those limits.

Quick answers

When does Microsoft report Q1 fiscal 2027 earnings? Wednesday, October 28, 2026, after the market close, with the webcast at 5:30 p.m. ET.

When does Alphabet report Q3 2026 earnings? Wednesday, October 28, 2026, after the close, with the call at 4:30 p.m. ET.

When does Amazon report Q3 2026 earnings? Thursday, October 29, 2026, after the close.

Is the Fed meeting the same week? Yes. The FOMC meets October 27 and 28, with the statement at 2:00 p.m. ET on Wednesday, two hours before Microsoft and Alphabet report.

How much do these stocks move after earnings? Since 2015, the average day-after move has been 4.2% for Microsoft, 4.3% for Alphabet and 6.2% for Amazon, in either direction. Amazon moved 5% or more on 60% of its report days.

Data: earnings report dates from each company's 8-K filings (item 2.02) on SEC EDGAR, 2015 to July 2026; daily adjusted closes from Yahoo Finance through October 23, 2026; FOMC meeting dates from the Federal Reserve; next week's schedule from the companies' call announcements as compiled by Opening Bell Daily on October 24, 2026. "Day after" is the close of the session following the report against the report-day close. Past patterns are not predictions and nothing here is a recommendation to buy or sell any security.