Bernstein raised its price target for Microsoft (MSFT.O) from $662 to $722.

KeyBanc Capital Markets analysts Justin Patterson and Sergio Segura said Alphabet's AI search monetization is progressing slower than expected and could continue to pressure the stock in the near term. Google Services (including search) reported Q3 revenue below expectations, which the analysts said confirms their pre-earnings concerns. They warned search revenue disappointed and could weigh on the shares for one to two quarters as investors wait to see whether the issue is temporary or structural. Alphabet shares were down more than 10% in pre-market trading.

1. November 2019: Christine Lagarde succeeded Mario Draghi, beginning her eight-year term and becoming the first female president in the history of the European Central Bank (ECB). 2. March 2020: The COVID-19 pandemic impacted the economy and financial markets; Lagarde led the ECB in its response, launching the Pandemic Emergency Purchase Programme (PEPP). 3. July 2021: Lagarde led the ECB in completing its monetary policy strategy review, clarifying that the inflation target is symmetrical, meaning that both excessively low and excessively high inflation need to be addressed. 4. July 2022: Factors such as the Russia-Ukraine conflict triggered high inflation; Lagarde led the ECB in raising interest rates by 50 basis points, ending the era of negative interest rates, and launching the Transmission Protection Instrument (TPI). 5. September 2023: Lagarde led the European Central Bank in a series of interest rate hikes to combat inflation, raising rates by a total of 450 basis points from July 2022 to September 2023, bringing the rate to 4%, the highest level since the euro's inception. 6. December 2024: The European Central Bank lowered its deposit rate to 3%, and Lagarde successfully led the central bank to reduce the eurozone's inflation rate from 2.9% at the end of 2023 to 2.4% at the end of 2024. 7. October 2025: During Lagarde's tenure, the European Central Bank continued to advance the digital euro project. The project entered its next phase of preparation, shifting its focus to technical readiness and other matters. 8. June 2026: The Middle East war pushes up inflationary pressures, and Lagarde chairs the Governing Council to raise interest rates by 25 basis points to 2.25%, the first rate hike in nearly three years. 9. October 2026: The European Central Bank issues a statement saying that Lagarde will step down on February 7, 2027, approximately eight months earlier than her originally scheduled term.

Bank of America Global Research projects that the Federal Reserve will raise interest rates by 25 basis points each in December 2026 and March 2027.

Repsol CEO: There are some concerns about tight diesel supplies in Europe in the coming months.

A spokesperson for the World Economic Forum declined to comment on whether European Central Bank President Christine Lagarde could be elected as the forum's chair at this time.