Today, let’s take a little… flashback to the past week’s news, since we’ve had quite a few positive updates. Major indices are soaring, and quarterly earnings announcements are getting better and better. With the backdrop of these quarterly earnings reports, the Nasdaq hit a new all-time high, closing the week at 18,518.61 points. Honestly, who says tech stocks are saturated? Especially now, in earnings season, as we see companies like Nvidia , Meta , Amazon , and Microsoft rising with momentum, the market is capitalizing on this and pushing the board higher.
EARNINGS
As we mentioned, the quarterly earnings we’ve seen so far are quite strong. Of course, Tesla was the surprise, jumping by +22% on Thursday! Tesla showed an impressive performance with better-than-expected earnings, leaving investors amazed.
But it wasn’t just Tesla doing well. Specifically, 83 out of the 110 companies in the S&P 500 that reported earnings this week beat their earnings-per-share (EPS) estimates, and over 50 companies exceeded estimates for both EPS and revenue. Not too shabby, huh?
And which sectors stood out? you might ask. Well, the materials sector was a top performer, with Freeport-McMoRan and Nucor leading the way, thanks to increased sales in copper and gold.
In telecommunications, the three big names—Verizon , T-Mobile , and AT&T —also beat analysts’ predictions! Notably, T-Mobile raised its projections for new customer additions to between 5.6 and 5.8 million.
And we’re not stopping there. In consumer goods, Coca-Cola and Philip Morris raised the bar with strong earnings. Meanwhile, in the financial sector, we saw exceptional results from companies like KKR and Nasdaq .
And the best part? The coming week promises to be even more exciting and packed with announcements! The “menu” this time includes the “big ones,” with Alphabet , Meta , Microsoft , Apple , and Amazon gearing up for their reports. And if anyone thinks this is just another typical week, let us remind them that each announcement from these companies rings a bell across global markets.
Let's hope that all those good news are going to help Bitcoin to brake the 70,000$.
Posted Using InLeo Alpha
