The post S&P 500 offers a number of earnings plays this week appeared on BitcoinEthereumNews.com.

S&P 500 index has retracted 2.8% over the past two weeks. One of the biggest earnings weeks for calendar Q2 is upon us. Apple, Microsoft, Amazon and Meta Platforms all release this week. Federal Reserve will release interest rate decision on Wednesday.   McDonald’s (MCD) was first out the gate on Monday in a week filled with numerous high-profile earnings events. The leading fast food retailer missed earnings and revenue expectations but still managed to tack on a more than 3% share price gain after noting recent success for its $5 Meal deal. Besides McDonald’s, Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon (AMZN), Starbucks (SBUX), ExxonMobil (XOM), Intel (INTC) and Merck (MRK) all release quarterly results this week. Additionally, this week is made more noteworthy by the Federal Reserve’s (Fed) July interest rate decision. Based on the CME Group’s FedWatch Tool, there is only a 5% chance of a rate cut when the central bank delivers its decision on Wednesday. S&P 500 news: It’s earnings week, baby The market has been stuck in sell-off mode during the latter half of July, which owes in part to lackluster results from Alphabet (GOOGL) and Tesla (TSLA), as well as to a general pullback from artificial intelligence (AI) plays like Nvidia (NVDA) and Super Micro Computer (SMCI).  Traders are excited to see if the market’s fortunes shift in the right direction this week. Early signs from the Dallas Fed Manufacturing Business Index and McDonald’s results seem to reveal more negativity under the surface however. Tuesday starts off with Microsoft. The internet and computer powerhouse is expected to earn $2.94 per share on revenue of $64.4 billion. This would mean a 15% gain in top line growth over the past year. Advanced Micro Devices (AMD), which is focused on its MI300X competitor to…

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Filed under: News - @ July 30, 2024 3:26 am