Post-market reports from Microsoft Corporation and Alphabet will give investors more insight into the health of the tech sector, as rising interest rates have weighed on investor enthusiasm for growth stocks. Analysts are waiting to hear from Alphabet, Google’s parent company, about trends in digital advertising, especially given Snap Inc’s dire outlook last week.
In the pre market Coca-Cola Co and General Motors Company have exceeded expectations. Coca-Cola shares rose 0.6% and GM shares rose 2.8%.
Shares of 3M Company fell 0.9% after cutting its full-year revenue and profit outlook.citing the effect of a index dollar strong.
Stocks have been helped in the past two days by hopes that the Federal Reserve will ease its aggressive interest rate hikes after its meeting next week, in which raising its benchmark is expected to rise another 0. .75 percentage points. It would be the fourth consecutive rise.
As companies navigate rising costs, inflation, which is changing consumer habits, and other challenges, the earnings season has managed to exceed expectations. Nearly three-quarters of S&P 500 companies that have reported so far have beaten forecasts, according to Reuters.
consumer confidence data showed a decrease compared to September, with an October reading of 102.5 versus expectations of 106.5. The September reading was 107.8.
Source: Ambito
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