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In the latest phase of events, US stock markets continued their downward trajectory for the fifth consecutive day. The Composite index slipped nearly 100 points, a decline of 0.77%, while the and Average followed suit, falling 25.77 points (0.61%) and 208.87 points, respectively (0.63%).
Dubbed the “Magnificent 7,” tech giants Microsoft (NASDAQ:), Amazon (NASDAQ:), Meta and Alphabet (NASDAQ:) are gearing up for earnings releases amid the bear market. These companies saw stock prices decline between -0.12% and -0.54% in anticipation of the earnings announcement.
At the same time, the US debt market is seeing a surge, with 10-year yields approaching a 5% rise. This development is due to the fact that investors are carefully watching inflation signals and their potential impact on future interest rates.
In addition to the technology sector, other major companies are expected to announce earnings this week. These include Phillips, Logitech, Coca-Cola (NYSE:), Verizon, General Electric (NYSE:), 3M, General Motors (NYSE:), Visa and Texas Instruments. The aviation sector will be closely watched with Boeing’s (NYSE:) earnings announcement, while the telecommunications and hospitality sectors will be represented by T-Mobile and Hilton respectively.
As investors prepare for a busy week of earnings reports, market sentiment will likely be affected by these results, amid ongoing concerns about inflation and potential changes in monetary policy.
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