Big Tech stocks have a high earnings bar to clear

📆 10/29/2024 1:30 PM
📰 CNBC

⏱ Reading Time:
25 sec. here
15 min. at publisher
📊 Quality Score:
News: 58%
Publisher: 72%

Investment Strategy News

Stock Markets,Alphabet Inc,Alphabet Class C

Wall Street will get earnings reports from five members of the so-called Magnificent Seven this week. There's a lot at stake for the stock market.

Wall Street will get earnings reports from five members of the so-called Magnificent Seven this week. There's a lot at stake for the stock market. Google- and YouTube parent Alphabet is slated to post its third-quarter figures Tuesday after the close. Meta Platforms and Microsoft are due Wednesday. Apple and Amazon are on deck for Thursday. The reports come at a tricky time for investors.

"With tech valuations having recovered more than 15% from their August lows, the bar is high for the sector to strongly 'beat and raise,'" Marcelli said in a note. Technical patterns based on price charts aren't too favorable either heading into megacap tech earnings. The Technology Select Sector SPDR Fund in June hit its highest relative level to the S & P 500 since March 2000 , when the dot com bubble peaked. Since then, it has rolled over.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian shares mostly rise after Wall Street climbs on Big Tech gainsAsian shares mostly rose after U.S. stocks closed broadly higher with gains in Big Tech companies offsetting a skid in oil-and-gas stocks. Benchmarks rose in Tokyo, Sydney and Hong Kong early Tuesday, while declining slightly in Seoul and Shanghai. In Japan, the government reported that the unemployment rate stood at 2.
Source: AP - 🏆 728. / 51 Read more »