Tech giants earnings; S&P 500 eyes sixth earnings jump
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- Tesla kicked off the "Magnificent Seven" earnings week last week, setting the stage for other tech giants' reports.
- Microsoft posted its earnings after the bell on Wednesday, joining the Magnificent Seven in the busy week.
- Spotify released its quarterly results, expanding the earnings coverage beyond the tech sector.
- Chevron reported earnings, highlighting oil majors' exposure to the Iran war as noted in the headline.
- Exxon Mobil reported earnings, adding to the oil sector's exposure to the Iran war as highlighted in the headline.
- John Butters of FactSet expects the S&P 500 to record its sixth consecutive quarter of double‑digit earnings growth.
- S&P 500 rose 0.50% in trading, reflecting a positive market response to the earnings announcements.
Why it matters: Investors benefit from the continued earnings momentum, as the S&P 500 is projected to post a sixth straight quarter of double‑digit earnings growth, reinforcing confidence in market performance despite external headwinds. Companies that beat expectations may see stock gains, while sectors vulnerable to geopolitical tensions could face pressure.
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