NEW YORK, Jan 21 ― A spate of earnings reports in coming weeks is set to test a recent bounce in technology and other megacap stocks, a category whose leadership position in...
NEW YORK, Jan 21 ― A spate of earnings reports in coming weeks is set to test a recent bounce in technology and other megacap stocks, a category whose leadership position in US markets has faltered after last year’s deep selloff.
Now, however, the focus is shifting to whether these companies can withstand a widely expected economic downturn while supporting valuations that some investors believe are too high. The top six stocks by market value in late 2021 ― Apple, Microsoft, Alphabet, Amazon, Meta and Tesla ― have seen their collective weight in the S&P 500 fall from 25 per cent to 18 per cent, according to Strategas Research Partners.
Fourth-quarter earnings in the tech sector are expected to have declined 9.1 per cent from a year ago, compared to a 2.8 per cent decline for S&P 500 earnings overall, according to Refinitiv IBES. “The biggest positive could be if they could show a control of expenses while keeping at least reasonable growth intact,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. “It’s a hard balancing act.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street slips as labour market data fuels Fed worryNEW YORK, Jan 20 ― US stock indexes closed lower yesterday after data pointing to a tight labour market renewed concerns the Federal Reserve will continue its aggressive path...
Read more »
Wall Street struggles to contain costsEven after eliminating staff, cutting bonuses and tapping an army of robots to replace legions of workers, Wall Street is still bracing for higher costs in coming months – especially those tied to pay.
Read more »
Pope urges prayers for DR Congo ahead of Apostolic VisitHerald Malaysia - daily news source with Malaysian and Global coverage of the Catholic Churches. Catholic News,World Christian News, Malaysia Church News
Read more »
PREVIEW-Soccer-Bruised Bayern cautious ahead of season restart against LeipzigBERLIN (Reuters) - Julian Nagelsmann's injury-hit Bayern Munich will be put to the test in their Bundesliga restart against RB Leipzig on Friday as the leaders resume their hunt for a record-extending 11th straight league crown.
Read more »