From the Wall Street Journal’s "Tech Stocks Poised to Gain Ahead of Apple, Amazon Earnings" posted early Thursday:
Technology stocks were poised to gain as investors cheered earnings from Meta Platforms and awaited results from Twitter, Apple and Amazon.
The Facebook owner’s stock rose 18% in premarket trading Thursday after the company said it had added more users than investors expected in the first quarter. That gain helped send Nasdaq-100 futures up 2.4%, pointing to a broader rally in tech shares...
Investors will get a glimpse of how decades-high inflation—and the Fed’s response—are affecting consumer sentiment when Apple and Amazon file quarterly results after the closing bell. Twitter, which this week agreed to be bought by Elon Musk for $44 billion, is due to report before markets open along with industrial bellwetherCaterpillar, investment firm Carlyle Group and McDonald’s.
“I don’t think people have a lot of conviction at all,” said John Roe, head of multiasset funds at Legal & General Investment Management. “It’s a period of time when fundamental uncertainty is at a particularly high level.”
Charts: Yahoo!Finance sees a bearish price-crosses-moving-average pattern. Max pain stays at $167.50 with a call mountain at $175.