Beat the street: Alphabet tops $2 trillion market cap; Microsoft; PCE; Chevron; Exxon Mobil
Alphabet’s results helped the Google-parent push its market value past the $2 trillion mark. A key inflation print was in-line with expectations, a day after a cooler-than-expected US Q1 GDP reading.
Plus, Chevron delivers a Q1 profit beat, while Exxon Mobil misses on its Q1 profit estimates.
(AI Video Summary)
Core PCE data aligns with expectations
In the today's episode of "Beat the street", Angeline Ong analyses the market's response to recent economic indicators and corporate earnings ahead of the Wall Street open. The core PCE data aligned with expectations, showing a yearly increase at 2.8%, slightly ahead of forecasts. This follows a softer US GDP reading. Chevron outperformed in Q1 earnings, while Exxon Mobil fell short. Ong also touches on tech giants' earnings, with Alphabet and Microsoft reporting strong results, contrasting with Meta's disappointing figures.
Indices and earnings reports
The S&P futures reacted positively, suggesting a favorable market outlook. Attention also turns to the upcoming Fed meeting and non-farm payroll data, with speculation about interest rate cuts amidst a strong US economy. Analysts anticipate critical earnings from Apple and NVIDIA, highlighting the potential impact on market trends. The episode also examines client sentiment on major tech stocks and concludes with an update on oil majors' performance post-earnings announcements.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
