Beat the street: US GDP and Meta weighs; Alphabet; Microsoft; Intel
A cooler-than-expected US Q1 GDP reading and downbeat results from Meta weighs on investors minds. Investors now eyeing the PCE reading on Friday.
Plus, after Meta, watch out for Alphabet, Microsoft and Intel after the market close.
(AI Video Summary)
US Q1 GDP reading comes in cooler than expected
Today's episode of "Beat the street" with Angeline Ong discusses the recent downturn in US stocks led by Meta's poor quarterly results. The spotlight is also on important economic figures such as the GDP and PCE, with the GDP data revealing a disappointing 1.6% growth against the anticipated 2.4%.
Major tech and engineering earnings expected
Tech giants like Alphabet, Microsoft, and Intel were on the watchlist for their upcoming earnings reports. The trading floor insight suggested short-term selling pressure on the US dollar but maintained a long-term bullish outlook. Meta's earnings beat expectations but still faced market scepticism, reflecting on its overvaluation concerns.
Other companies like IBM, Ford, American Airlines, and Caterpillar were also highlighted for their earnings outcomes and market reactions. The discussion covers client sentiment towards these stocks, emphasising the importance of pre-market positioning and forecasting market movements ahead of the Wall Street open.
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