AAPL
Nasdaq futures climb 1% ahead of big week for tech earnings
- Traders are preparing for the busiest week of earnings season, which
will include reports from some of the largest tech companies, and the
excitement is palpable. Nasdaq futures climbed nearly 1% to lead gains
overnight, while the S&P 500 and Dow Jones rose 0.3% and 0.1%,
respectively. Don't forget about the aggressive stimulus being pursued by
the new Biden administration, which may look to pass a $1.9T package on
its
own this week if bipartisan support proves to difficult.
- *Snapshop: *More than a fifth of the S&P 500 are expected to provide
quarterly updates over the next five sessions, shedding light on how
businesses performed as coronavirus cases rose at the end of 2020. The
mega-caps are headlining the busy earnings week and share prices are
bound
to respond. For the first time ever, Apple's quarterly sales are expected
to cross $100B and Microsoft is projected to pass $40B, while Tesla is
set
to post its sixth consecutive quarterly profit and metrics like
ad-revenue
growth and MAUs will be on watch at Facebook. Premarket movement:
AAPL+2%,
MSFT+1.7%, TSLA+1.7%, FB+1.3%.
- Don't forget about other sectors. Investors will size up results at
telecom firms Verizon and AT&T, food companies like McDonald's and
Starbucks, payment giants MasterCard and Visa, as well as industrial
heavyweights like Honeywell, GE, Caterpillar and Boeing. S&P 500 earnings
are on track to fall 4.7% year-over-year for the quarter, according to
FactSet, but corporate guidance and forecasts will make all the
difference,
with profits set to rebound 24% over 2021.
- *Go deeper: *Ahead of the reports, options activity has been
continuing at a breakneck pace, building on last year's record volumes.
Bullish call-options trading surged to a high on Jan. 14, with about 32M
contracts changing hands, according to Trade Alert, and Apple and Tesla
were among the most popular bets. "This is the most popular I've seen
call
buying in my career," said Jon Cherry, global head of options at
Northern Trust Capital Markets. "Where I think that is really driving
from
is kind of the melt-up that we've seen in broader markets."
|Today, 5:09 AM|4 Comments
Nasdaq futures climb 1% ahead of big week for tech earnings
- Traders are preparing for the busiest week of earnings season, which
will include reports from some of the largest tech companies, and the
excitement is palpable. Nasdaq futures climbed nearly 1% to lead gains
overnight, while the S&P 500 and Dow Jones rose 0.3% and 0.1%,
respectively. Don't forget about the aggressive stimulus being pursued by
the new Biden administration, which may look to pass a $1.9T package on
its
own this week if bipartisan support proves to difficult.
- *Snapshop: *More than a fifth of the S&P 500 are expected to provide
quarterly updates over the next five sessions, shedding light on how
businesses performed as coronavirus cases rose at the end of 2020. The
mega-caps are headlining the busy earnings week and share prices are
bound
to respond. For the first time ever, Apple's quarterly sales are expected
to cross $100B and Microsoft is projected to pass $40B, while Tesla is
set
to post its sixth consecutive quarterly profit and metrics like
ad-revenue
growth and MAUs will be on watch at Facebook. Premarket movement:
AAPL+2%,
MSFT+1.7%, TSLA+1.7%, FB+1.3%.
- Don't forget about other sectors. Investors will size up results at
telecom firms Verizon and AT&T, food companies like McDonald's and
Starbucks, payment giants MasterCard and Visa, as well as industrial
heavyweights like Honeywell, GE, Caterpillar and Boeing. S&P 500 earnings
are on track to fall 4.7% year-over-year for the quarter, according to
FactSet, but corporate guidance and forecasts will make all the
difference,
with profits set to rebound 24% over 2021.
- *Go deeper: *Ahead of the reports, options activity has been
continuing at a breakneck pace, building on last year's record volumes.
Bullish call-options trading surged to a high on Jan. 14, with about 32M
contracts changing hands, according to Trade Alert, and Apple and Tesla
were among the most popular bets. "This is the most popular I've seen
call
buying in my career," said Jon Cherry, global head of options at
Northern Trust Capital Markets. "Where I think that is really driving
from
is kind of the melt-up that we've seen in broader markets."
|Today, 5:09 AM|4 Comments
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