Dow Jones futures edged up 0.1%, with Microsoft and Boeing in focus.
S&P 500 futures dipped 0.5%, while Nasdaq 100 futures slumped 1.1% due to declines in Microsoft, Google, AMD, and Tesla stocks.
Federal Reserve Meeting Announcement: Investors are awaiting hints from the Fed regarding the timing of rate cuts.
Market Rally: The Dow rose, while the S&P 500 edged lower, and the Nasdaq sank. Tech stocks, including Apple, saw profit-taking ahead of major earnings releases.
Job Openings: Exceeded expectations, raising concerns among Fed policymakers.
Key Earnings Highlights:
Microsoft (MSFT): Earnings topped fiscal Q2 views, with upbeat guidance. Azure revenue grew 30%.
Google parent Alphabet (GOOGL): Beat earnings but disappointed in online advertising growth.
Advanced Micro Devices (AMD): Reported in-line Q4 earnings with slightly beating revenue. Provided lower guidance for the current quarter.
Meta Platforms (META), Nvidia (NVDA), Amazon.com (AMZN), Arista Networks (ANET): Retreated slightly ahead of their earnings announcements.
Novo Nordisk (NVO), Boeing (BA): Reported before the open, with both stocks little changed.
Tesla (TSLA): Slumped as a judge voided CEO Elon Musk's $56 billion stock compensation plan.
Market Expectations and Recommendations:
Fed Rate Cuts: Investors are monitoring the Fed meeting announcement for clues on rate cut timing.
Earnings Impact: Earnings reports from major tech companies are a significant test for AI, cloud computing, and the overall market rally.
Market Caution: Amidst a busy week for news, investors are advised to exercise caution with new buys and consider profit-taking.
Opportunities: This week could present new setups and buying opportunities, so investors should stay engaged and flexible.
ETF Performance:
Tech ETFs like IGV and SMH declined, reflecting profit-taking in tech stocks.
Growth ETFs like ARKK and ARKG retreated, while XME and XLE rose.
Stock-Specific Highlights:
Apple (AAPL): Fell ahead of earnings, reflecting concerns about iPhone sales decline.
Tesla (TSLA): Stock fell modestly as a judge voided Elon Musk's compensation plan.
Market Outlook:
The market rally remains active, but investors are advised to remain cautious amidst significant news flow.
Watchlists should be updated, and investors should stay flexible to capitalize on potential buying opportunities.
Overall, the market is navigating through a busy week of earnings and economic updates, prompting investors to stay vigilant and adaptable in their strategies.
