CNBC Daily Open: For Big Tech, beating earnings expectations is not enough

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Prices increased in line with expectations  
The U.S. personal consumption expenditures index increased 0.2% in September, on a monthly and seasonally adjusted basis, reported the U.S. Commerce Department. The 12-month inflation rate was 2.1%. Both numbers were in line with Dow Jones estimates. The core inflation rate, which excludes food and energy prices, came in at 2.7%. 

Big Tech drags down markets 
Major U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares. All three indexes fell for the month. Europe's Stoxx 600 index slid 1.2% to end October 3.4% lower, according to LSEG data, marking its worst monthly performance in a year. Separately, inflation in the euro zone in October rose to 2%, more than expected. 

Apple and Amazon beat estimates 
Apple's fiscal fourth-quarter earnings and revenue exceeded LSEG consensus estimates. The Cupertino-based company's iPhone revenue grew 6%. Meanwhile, Amazon also beat Wall Street's expectations for its third-quarter earnings and revenue. While the company's cloud division missed revenue expectations, it's growing faster than it had in the same period last year. 

New contract offer for Boeing workers 
Boeing and its machinists' union have reached a new contract offer that may end a seven-week-long strike involving more than 32,000 machinists. The new proposal bumps up wage increases and gives the option of a ratification bonus. Voting is scheduled for Monday, and the union urged its members to approve the contract. 

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