Beat the street: Mag 7; Earnings galore; GDP; PCE; Tesla price cuts
Mag 7 results come at a critical moment for the stock markets, suffering AI fatigue and jitters prompted by geopolitical tensions in the Middle East.
Meta, Microsoft, Tesla, Exxon Mobil and Alphabet are just some of the big names reporting. The focus on growth is amplified this week with the latest Q1 US GDP and inflation print. Tesla finally succumbs to competition pressure and announces price cuts on some of its models.
(AI Video Summary)
Tech giants' earnings reports expected
This episode of "Beat the street", hosted by Angeline Ong, discusses the anticipation of major earnings reports from tech giants like Meta, Microsoft, Tesla, and Alphabet, alongside key economic data including Q1 US GDP and the Fed's preferred inflation gauge, the PCE.
This week's starting market outlook
Markets showed caution ahead of this earnings-heavy week, reflecting in mixed quarterly earnings and the recent dip in the Dow Jones and NASDAQ indices. Tesla’s share price is highlighted for its significant drop amid price cuts and competition, especially from Chinese EV makers. The discussion also includes insights on the asymmetric market response to earnings beats and misses, emphasising the crucial role of tech companies' reports in market sentiment, particularly in the context of AI narratives and Federal Reserve rate cut expectations. Copper's rising demand due to its role in energy transition was also noted.
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