The Daily Chase: Awaiting tech earnings; Tesla downgraded - BNN Bloomberg

The Dow Jones Industrial Average is looking to make it an 11-sessions in a row of gains. The index climbed for 10th day on Friday, the longest streak since 2017. We are also nine months past the low for the S&P 500 and Bespoke notes that since Second World War, once we get nine months past a major bear market low, the S&P 500 has been higher a year later 12 out of 13 times.

And then we have earnings, 30 per cent of the S&P 500 reports this week featuring reports from Microsoft, Alphabet and Meta which make up 12 per cent of the S&P 500’s market cap.Shares of Shopify were up in the pre-market after an upgrade at MoffettNathanson. The analyst, Michael Morton, starts by addressing the elephant in the room: Shopify trades at an elevated multiple. Nevertheless, the analyst presses on, and says the company is poised for an inflection that consensus is missing.

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