CNBC Daily Open: Everyone loves Reddit

Rising unreality gross for Alphabet
Google-parent Alphabet's third-quarter net bushed expectations. The company's quarterly gross was $88.27 billion, up 15% twelvemonth connected year, boosted by its unreality division's 35% leap successful revenue from a twelvemonth ago. Google's hunt and advertizing gross besides grew. Net income was $26.3 billion, 33.5% higher than the year-ago quarter.

Reddit swings to profit
Reddit shares surged astir 25% successful extended trading Tuesday, breaking the $100 obstruction for the archetypal time, connected the company's better-than-expected third-quarter results. Notably, Reddit turned profitable successful the 3rd quarter with nett income of $29.9 million, compared with a nett nonaccomplishment of $7.4 cardinal during the aforesaid 4th a twelvemonth ago.

Mixed markets
On Tuesday, the Nasdaq Composite roseate 0.78% to close astatine a caller high and the S&P 500 added 0.16%, but the Dow Jones Industrial Average mislaid 0.36%. The pan-European Stoxx 600 scale mislaid 0.57%. Earnings results from European companies were mixed, causing trading successful the portion to beryllium choppy.

End of zero involvement rates era
Larry Fink, CEO of BlackRock, thinks the U.S. Federal Reserve volition lower rates lone once, by 25 ground points, for the remainder of this twelvemonth due to the fact that of precocious "embedded inflation," Fink said astatine a sheet Tuesday. At the aforesaid event, Morgan Stanley CEO Ted Pick said the era of zero involvement rates and zero ostentation is over.

[PRO] Citi likes these small-cap stocks
The Russell 2000 has gained astir 10.4% truthful acold this year. While that trails the S&P 500's 22% summation successful the aforesaid period, some analysts and investors are paying much attraction to small-cap stocks. As the Fed cuts involvement rates, small-cap stocks thin to payment much — and these are the small-cap stocks Citi thinks are bully buys.

A time successful the beingness of an mean bureau worker:

• Commute to work. Send a Snap of the packed bid to friend
• Browse Reddit. Chuckle astatine cats successful r/pics
• Search Google for accusation connected wherefore orangish cats are truthful nefarious
• Watch a video compilation connected YouTube of cats knocking implicit vases
• Arrive astatine work. Secretly proceed browsing societal media

Those behaviors are truthful ingrained successful astir of america that they're astir automatic and essential.

It's not excessively surprising, then, that the companies down those services – Snap, Reddit and Alphabet – reported third-quarter results that bushed Wall Street's expectations.

Their revenues, successful particular, are agleam spots. For its 3rd quarter, Alphabet's advertizing gross accrued 10.4% twelvemonth connected year. While Snap and Reddit didn't study their advertizing apical enactment specifically, determination were indications some companies are besides doing good successful that area.

Snap's full progressive advertisers person much than doubled from the year-ago quarter, according to CEO Evan Spiegel. That's coupled with two cardinal much planetary regular progressive users than expected. More advertisers and much eyeballs mean much gross per ad.

Meanwhile, Reddit swung from a nonaccomplishment a twelvemonth agone to earning a profit. That singular translation was successful portion helped by a 47% year-over-year leap successful regular progressive users and better-than-expected mean gross per user.

All companies reported net aft the bell. In extended trading, shares of Reddit rocketed astir 25%, Snap surged astir 10.6% and Alphabet added 5.8%.

It's Meta's and Microsoft's crook to study net aboriginal today. Microsoft isn't truly progressive successful the advertisement marketplace due to the fact that it's much focused connected endeavor products. But investors volition beryllium watching to spot if Meta keeps up with the affirmative inclination truthful far.

Judging by however overmuch clip I walk connected Meta-owned Instagram and spot ads that look to cognize precisely what I want, the company's advertisement gross is apt to spot steadfast maturation arsenic well.

— CNBC's Julia Boorstin, Jonathan Vanian and Jennifer Elias contributed to this report.   

Note: CNBC Daily Open volition beryllium connected a interruption Thursday, Oct. 31, for the nationalist vacation successful Singapore. Regular programming volition resume Friday.