<p>U.S. PCE data exceeded expectations, with the Nasdaq index dropping 1% at the open, the S&amp;P 500 down 0.76%, and the Dow Jones down 0.50%. Microsoft fell over 4% at the open, expecting a slowdown in cloud business revenue growth this fiscal quarter. Li Auto dropped over 8%, with Q3 net profit roughly flat year-on-year, and Q4 revenue guidance falling short of expectations. Estee Lauder fell over 24%, marking its largest historical decline, as the company withdrew its fiscal year 2025 outlook and lowered its dividend. Shell rose over 1%, with adjusted profits in the third quarter exceeding expectations</p>

MSFT

<p>The three major U.S. stock indices opened lower, with the Nasdaq index down 1%, the S&P 500 index down 0.76%, and the Dow Jones index down 0.50%. Microsoft's stock price fell over 4%, as cloud business revenue growth is expected to slow; Li Auto dropped over 8%, with Q3 net profit flat and Q4 revenue guidance below expectations; Estee Lauder fell over 24%, marking its largest historical decline, withdrawing its fiscal year 2025 outlook and lowering its dividend; Shell rose over 1%, with adjusted profits in the third quarter exceeding expectations</p>

U.S. stock market early trading: All three major indices fell collectively, Microsoft dropped over 4%, Li Auto fell over 8%