From “Stocks Tick Higher Ahead of Blue-Chip Earnings; Oil Drops” ($) in Tuesday’s Wall Street Journal:
Stocks wavered Tuesday as investors awaited earnings reports from U.S. technology giants and blue-chip companies. A fresh plunge in oil prices signaled a bleak outlook for energy demand and the global economy.
Futures tied to the S&P 500 edged up 0.4%, suggesting the blue-chip index may hold on to gains made Monday. The Stoxx Europe 600 rose 0.8%, despite a decline in oil-and-gas-stocks.
Oil prices extended their slide, which has been driven by dwindling space for storing crude globally…
A handful of technology companies that have helped power U.S. stocks higher over the past month are set to report earnings in the coming days. Alphabet, parent of Google, is due to publish its first-quarter results after trading closes Tuesday, followed by Facebook and Microsoft on Wednesday and Amazon.com and Apple on Thursday.
Investors have been betting in recent weeks that the tech giants will be shielded from the worst of the economic fallout stemming from the coronavirus pandemic. The five companies collectively account for around 20% of the market capitalization of the S&P 500.
My take: A jam-packed three days.