The News
A slew of Big Tech earnings reports in the next two weeks will test the stock market rally that marked US President Donald Trump’s first week in office.
Microsoft, Meta, and Tesla will report Wednesday, quickly followed by Apple, Alphabet, and Amazon. Collectively, the firms are expected to report a slowdown in profits relative to past quarters, Bloomberg reported, which could put pressure on valuations.
“The bar has been raised,” one analyst said.
Investors this week are also closely watching the US Federal Reserve, which is expected to leave interest rates unchanged at its meeting on Wednesday.
Chair Jerome Powell, though, could provide some clues as to the Fed’s path under Trump: The president last week said he’d “demand” interest rates fall along with oil prices.