This week 4 of the “Magnificent 7” (Microsoft, Amazon, Alphabet and Meta reported) reported their earnings and their results really didn’t matter. The markets were intent on moving to the downside spurred on by higher yields, concerns about global growth, concerns about the Fed, and concerns about Israeli/Hamas war. The wall of worry is high.

For the week:

  • Meta is down -4.08%
  • Alphabet is down -10.21%
  • Microsoft is up 0.682%
  • Amazon is up 1.77%

Although earnings showed a lot of BEATS vs MISSES, the major indices are sharply lower.

Next week the breath of earnings continues. Apple leads the way on Thursday with other large caps in different industries scattered throughout the week. Apple tumbled -3.09% this week.

Below is a smattering of the major releases (*denotes release before the open).

Monday

  • SoFI *
  • McDonald’s”
  • Western Digital”
  • Pinterest

Tuesday

  • Pfizer*
  • Caterpillar*
  • BP*
  • AMD
  • First Solar

Wednesday

  • CVS *
  • Humana *
  • Paypal
  • Roku
  • Qualcomm

Thursday

  • Palantir *
  • Shopify *
  • Lilly *
  • Apple
  • Starbucks

Source: https://www.forexlive.com/news/key-earnings-releases-scheduled-for-the-week-starting-october-30-20231027/