In the US stock market this week (April 29th – May 3rd), the general stock price level is rising as Amazon and Apple, part of the seven giant IT companies “Magnificent Seven”, prepare to announce their financial results As a result, the outlook is harsh as the financial results are lower than expected. Photograph taken in July 2021 (2024 Reuters/Andrew Kelly)
[ニューヨーク ２６日 ロイター] – This week (April 29th – May 3rd), the US stock market was dominated by Amazon (AMZN.O), one of the seven “Magnificent Seven” IT giants, New Tab, opens a new tab, and Apple (AAPL.O).) New Tab, opens a new tab about to announce its financial results, and as the overall stock price rises, the situation is difficult as the results are lower than expected.
Amazon will announce its financial results on the 30th and Apple on May 2nd. The results of the Federal Open Market Committee (FOMC) will be announced on the 1st.
Strong results from Microsoft (MSFT.O) New Tab, open a new tab and Google holding company Alphabet (GOOGL.O) New Tab, open a new tab, which also make up the Magnificent Seven, were positive, and the S & P 500 ( . SPX) New Tab, opens a new tab recorded its highest weekly rate of increase since the beginning of November last year. On the other hand, Facebook parent company Meta Platforms (META.O) New Tab, opens a new tab sold off due to weak prospects.
According to JPMorgan strategists, S&P 500 companies that reported better-than-expected earnings this quarter saw their stock prices beat the index by just 0.2 percentage points (median). In contrast, the stocks of companies that underperformed expectations fell 4% of the index, the biggest percentage drop in at least eight years.
Rick Meckler, a partner at Cherry Lane Investments, said earnings reports so far have been “pretty good,” but companies that miss expectations are “paying a heavy price.”
JPMorgan strategists said, “We were cautiously looking at the possibility that the better-than-expected results would not lead to upside,” given strong stock price gains ahead of earnings season and overly bullish positions “In fact, the United States The stock price response has been poor so far.”
If US Treasury yields rise and inflation indicators remain stronger than expected, earnings may receive less attention. Investors expect the FOMC to keep interest rates unchanged, but will focus on stronger-than-expected recent views on inflation.
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