Wall Street Rises Ahead of Reports from Four Major Tech Companies
The Federal Reserve is set to announce its monetary policy decision this week.
Major Tech Giants Microsoft, Meta Platforms, Apple, and Amazon.com to Report Quarterly Results This Week.
Wall Street is experiencing gains this Monday morning, with all three major indices operating in the green. Investors are eagerly awaiting the quarterly earnings reports from some of the most influential companies in the U.S. stock market.
The Dow Jones Industrial Average, which tracks the stocks of 30 major companies, is up a marginal 0.02%, reaching 40,597.57 points. The S&P 500, comprising 500 stocks, has risen 0.28% to 5,474.65 points. The tech-heavy Nasdaq Composite has gained 0.38%, standing at 17,423.52 points.
Microsoft will be the first of the tech giants to report its results this week, following the disappointing figures from Alphabet and Tesla. Microsoft’s earnings will be released on Tuesday, with Meta Platforms scheduled for Wednesday, and both Apple and Amazon.com on Thursday.
Last week, shares of the so-called “Magnificent Seven” – Microsoft, Meta Platforms, Apple, Amazon.com, Alphabet, Tesla, and Nvidia – ended with accumulated losses. Only Amazon managed to avoid falling more than 1%, amid sector rotation driven by the potential for interest rate cuts.
The Federal Reserve is set to announce its monetary policy decision this week. While no changes in rates are expected, analysts believe the statement could pave the way for a potential rate cut at the September meeting. The FOMC (Federal Open Market Committee) is likely to remain steady but may adjust its language to suggest a higher probability of a rate cut in September.
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