Most Mag 7 stocks rise ahead of big tech earnings this week

MAG Silver

28/10/2024 14:05

(Updates)
    ** Most of the elite "Magnificent Seven" group of megacap
stocks rise ahead of some big tech earnings this week
    ** Apple  AAPL.O , Microsoft  MSFT.O , Amazon.com  AMZN.O ,
Meta Platforms  META.O , Alphabet  GOOGL.O  up 0.3%-1.2%
    ** GOOGL earnings due on Tue, MSFT and META on Wed, AMZN and
AAPL on Thu
    ** "We know about the (tech cos') big spending, but are we
starting to see the benefits of their investments?" said Jay
Woods, chief global strategist at Freedom Capital Markets
    ** On Thu, TSLA surged 22% following a strong car sales
growth forecast, in a positive start to the Mag 7
earnings; stock down 1% on the day and up 7.4% YTD 
    ** Last week, NVDA briefly toppled AAPL to become world's
most valuable company; stock down 0.2% on Mon
    ** Investors also on the lookout for Nov. 5 U.S. elections
in another test for markets
    ** The Information Technology index  .SPLRCT  is the top S&P
500 sectoral index gainer so far in 2024 with a ~34% gain,
mainly driven by a 185% YTD rise in NVDA shares

 (Reporting by Ankika Biswas in Bengaluru)
 ((mailto:Ankika.Biswas@thomsonreuters.com))