Four-Session Winning Streak Continues for Stock Market
Tech stocks are doing well right now, and the stock market indices are elevated, continuing their streak.
Quick overview
- Several major tech stocks, including Amazon, Apple, Meta, and Microsoft, are set to report their quarterly earnings this week, attracting significant market interest.
- The stock market is experiencing a bullish trend, with all three major indices showing gains as economic data is anticipated to impact investor sentiment.
- Nvidia is facing challenges with a 1.41% drop due to competition from Huawei, while Tesla has rebounded with a 2.97% increase following a positive earnings report.
- Apple and Walmart have seen slight increases, while Microsoft and MicroStrategy are experiencing minor declines ahead of their earnings announcements.
Several Magnificent Seven stocks will be reporting this week, spurring interest in stock movement as the markets continue their four-session upward trend.
Amazon (AMZN), Apple (AAPL), Meta Platforms (META), and Microsoft (MSFT) will all be releasing their quarterly reports this week, making this one of the biggest earnings weeks for the stock market. We are expecting to see the current bullish trend continue as tariffs are still on pause and stock market giants are detailing their earnings.
Some economic data is set to be released as well, including personal income, consumer confidence, core PCE, and U.S. nonfarm payrolls. These could shift the market considerably and give investors and analysts a much better idea of where the economy is right now. There have been numerous concerns about rising inflation, stagnant interest rates, and the high cost of tariffs, and some of those concerns will be dealt with this week with the numerous reports spilling out day by day.
The Status of Major Stocks
All three stock indices were up on Monday as the stock market opened, continuing several days of consecutive gains. The Dow Jones rose by 0.71%, and the S&P 500 climbed 0.44% higher. The Nasdaq Composite added 0.37% as the three indices showed signs of widespread market gains.
Nvidia (NVDA) continues to struggle, with a drop of 1.41%. Their competitor in China, Huawei, is preparing to ship chips throughout China that rival what Nvidia already offers there. This comes at a time when Nvidia is banned by the U.S. government from selling many of its chips to Chinese customers.
Tesla (TSLA) is bouncing back with a 2.97% increase after they release their earnings report. The reaction to that report has been widely positive, and it shows that the company is not in as dire straits as previously feared. They are enjoying several days of consecutive gains.
Apple and Walmart (WMT) are both up (0.55% and 0.40%, respectively), while Microsoft is dipping down by 0.19% ahead of its earnings report. MicroStrategy (MSTR) is also down 0.55% after they acquired more than $1 billion in bitcoins.
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