April 13, 2024
Why the broader U.S. stock market has ‘a lot riding’ on Big Tech earnings

Why the broader U.S. stock market has ‘a lot riding’ on Big Tech earnings

A small group of technology giants have fueled U.S. stock-market gains this year, creating high anticipation for their soon-to-be-released earnings reports.

“There is a lot riding on Big Tech earnings this week, and the names reporting have a near term track record of delivering disappointing results,” said Nicholas Colas, co-founder of DataTrek Research, in a note Tuesday. These companies “largely missed estimates” over the last four quarters yet their outperformance this year suggests their first-quarter earnings results…

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