Live Markets: More key AI players due to report earnings next week

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Today 18:58

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MORE KEY AI PLAYERS DUE TO REPORT EARNINGS NEXT WEEK
Next week brings a heavy load of earnings reports including ones from Microsoft MSFT.O and other key tech-related companies.
Investors are especially keen to hear from more major AI players after Meta's META.O report this week rekindled worries about AI spending and how much longer the AI trade can go on. The recent AI selloff deepened on Thursday, with the Nasdaq .IXIC posting its biggest one-day percentage drop since June.
"Investors throughout the last few months have focused on either the best news that tech companies are putting out, or the worst news that those same companies are putting out. It's why we've seen really an extreme swing back and forth in views of these," said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
Aside from Microsoft, results from Alphabet GOOGL.O, Amazon.com AMZN.O and Intel INTC.O are due next week. Exxon XOM.N and Chevron CVX.N are also scheduled to report.
Year-over-year S&P 500 .SPX earnings growth for the third quarter is now seen at 31%, based on actual results from 121 of the S&P 500 companies and estimates for the rest, according to LSEG data on Friday. That figure is up from 30.7% a week ago.
     
(Caroline Valetkevitch)
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THE MOOD SOURS CLICK HERE
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WAKE UP! THE LONG BOND'S UP TWO POINTS! CLICK HERE
     

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