Beat the street: Meta; Microsoft; Alphabet; Tesla; US durable goods
Watch the open after world stocks rose in the previous session. The action shifting to big tech names as investors await results from Meta, Microsoft, Alphabet.
S&P 500 E-Mini futures extend gains slightly after the March durable goods print. Tesla promises new models, after shelving plans for cheaper EVs. Plus, IG Head of Premium Clients Peter Ward joins us to discuss why the trading action is spreading from indices to individual stocks.
(AI Video Summary)
Megatech earnings and news
In today's edition of "Beat the street", hosted by Angeline Ong, there's a focus on the anticipation of megatech earnings, with Microsoft, Meta, and Alphabet expected to report a 6% growth in quarterly earnings year-on-year. Tesla's announcement of new models post the shelving of a cheaper version is also discussed. Durable goods data slightly exceeded expectations, hinting at stable economic indicators.
Interview with Chris Vecchio
Chris Vecchio from tastylive highlights the significant impact of tech giants on the S&P 500's earnings growth, emphasising the pivotal role of this earnings week. There's a discussion on the potential of AI technology in contributing to revenue streams for companies like Meta and Microsoft.
The conversation shifts towards the Fed's monetary policy, with speculation around GDP growth projections and the effect of inflation on the Fed's rate decisions. Tesla's announcement regarding more affordable cars sparked interest, affecting its stock price despite missing earnings forecasts.
The episode concludes with insights on the Nasdaq 100's performance, Meta's upcoming report, Visa's earnings beat, and Boeing's challenges. Additionally, there's mention of a shift in trading volumes towards AI and crypto stocks, highlighting investor interest in emerging technologies.
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