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Shutterstock Big Tech earnings begin This week is sure to be a roller-coaster ride for tech investors, with five Magnificent 7 stocks scheduled to report earnings this week. All five companies posting results this week will likely have a major impact on the broader stock market. Recall that the Magnificent 7 accounted for over half of the S&P 500's ( SP500 ) gain last year.
Results on deck: Alphabet ( GOOG , GOOGL ) is the first Big Tech firm to announce its results , expected after market close today, amid regulatory scrutiny and intense competition. Meta ( META ) and Microsoft ( MSFT ) come next on Wednesday, followed by Amazon ( AMZN ) and Apple ( AAPL ) on Thursday. The remaining Magnificent 7 stocks are Tesla ( TSLA ), which kicked things off on a high note , and Nvidia ( NVDA ), slated to report next month.
Bigger picture: According to FactSet, four Magnificent 7 stocks are projected to be among the top 10 contributors to S&P 500 earnings growth for Q3 - Nvidia, Alphabet, Amazon and Meta. Interestingly, according to the latest Wall Street Breakfast survey , most respondents see Meta as the biggest beneficiary of earnings. All about AI: Artificial intelligence and cloud computing will remain in the spotlight as Big Tech spends heavily in these areas.
"The debate continues to rage about whether the costs will ultimately be justified, and investors increasingly will ask companies to 'show me the money' in coming quarters," said Schwab Center for Financial Research. Adding to the AI buzz, key chipmaker results will also be out this week - AMD ( AMD ) on Tuesday and Intel ( INTC ) on Thursday. ( 1 comment ) What else is happening.
.. WSB survey results: Meta ( META ) seen as biggest beneficiary of earnings .
U.S. finalizes rule curbing AI, chip technology investments in China .
Microsoft ( MSFT ) accuses Google ( GOOG ) of shadow campaigns . Report: OpenAI generates bulk of revenue through subscriptions . Boeing ( BA ) upsizes common stock offering, targets raising $21B .
JPMorgan's Dimon urges banks 'to fight back' against regulations . Talc settlement: DOJ throws wrench into J&J ( JNJ ) bankruptcy plan . U.
S. said to be running low on RTX -made air missile interceptors . Crude slammed in biggest one-day percentage drop since mid-2022 .
A brief history of MicroStrategy's ( MSTR ) climb to reclaim 24-year high . Today's Markets In Asia, Japan +0.8% .
Hong Kong +0.5% . China -1.
1% . India +0.5% .
In Europe, at midday, London +0.1% . Paris +0.
4% . Frankfurt +0.4% .
Futures at 7:00, Dow -0.1% . S&P flat.
Nasdaq +0.1% . Crude +1.
1% to $68.13. Gold +0.
2% to $2,762.40. Bitcoin +3.
8% to $71,131. Ten-year Treasury Yield +1 bp to 4.30%.
Today's Economic Calendar 8:30 AM International Trade in Goods (Advance) 8:30 AM Retail Inventories (Advance) 8:30 AM Wholesale Inventories (Advance) 9:00 AM Case-Shiller Home Price Index 9:00 AM FHFA House Price Index 10:00 AM Consumer Confidence 10:00 AM Job Openings and Labor Turnover Survey 1:00 PM Results of $44B, 7-Year Note Auction Companies reporting earnings today ».
