News Formal

Stock market news: Traders brace for mega-cap tech earnings

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

South Africa News News

US stocks decline as traders brace for big earnings from mega-cap tech firms

US stocks traded lower on Tuesday as investors look ahead to earnings results from mega-cap tech companies.

Major laggards include First Republic Bank, which plunged 28% Tuesday morning after reporting quarterly results that showed the regional bank's deposits declined by 40% in the first three months of 2023, accelerated by the widespread banking sector chaos stemming from the fall of Silicon Valley Bank.

Tech giants Alphabet and Microsoft are set to report quarterly results after the closing bell. Consumer confidence data for April will be released on Tuesday as well.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 729. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Stock market outlook: Volatility is too low, traders should sell bouncesThe stock market is unusually quiet right now. Here's why that won't last, and why traders should sell on any bounce.
Source: BusinessInsider - 🏆 729. / 51 Read more »