Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week
Portfolio Pulse from Shanthi Rexaline
The upcoming week's earnings reports from major companies like Tesla, Meta Platforms, Microsoft, and Alphabet are highly anticipated as they could influence the market's direction. FactSet's report indicates that S&P 500 companies' earnings surprises are at or above their 10-year averages, despite a slight decline in the combined earnings per share growth rate. The focus shifts to tech companies, with 158 S&P 500 companies, including 11 Dow 30 components, expected to release their earnings. Tesla is expected to report a downbeat quarter, while Microsoft, Alphabet, and Meta are anticipated to report strong results. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) have seen declines from their all-time highs.
April 21, 2024 | 9:45 pm
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NEGATIVE IMPACT
Tesla is expected to report a downbeat quarter with potential margin contraction and a double miss, which could negatively impact its stock price in the short term.
Analysts' expectations of a downbeat report and margin contraction for Tesla could lead to negative investor sentiment and a potential decrease in stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 90
NEUTRAL IMPACT
The Invesco QQQ Trust (QQQ) has lost value from its all-time high, with upcoming tech earnings potentially impacting its short-term price.
As QQQ is more levered to tech companies, the earnings reports from major tech firms could significantly impact its price movement.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) has seen a decline from its all-time high, and upcoming earnings could influence its short-term price movement.
The SPY ETF's performance is closely tied to the broader market and the earnings reports from major companies could influence its price movement.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Alphabet is widely expected to report strong results, which could positively impact its stock price in the short term.
Strong earnings expectations for Alphabet could lead to positive investor sentiment and an increase in its stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
Meta Platforms is widely expected to report strong results, which could positively impact its stock price in the short term.
Strong earnings expectations for Meta Platforms could lead to positive investor sentiment and an increase in its stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
Microsoft is expected to report strong results, potentially leading to a positive impact on its stock price in the short term.
Anticipated strong earnings from Microsoft could boost investor confidence and lead to an uptick in its stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 90