Big Week of Earnings Ahead 💸

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Big Week of Earnings Ahead

As earnings season has kicked off, this upcoming week will provide a better synopsis of the economy, specifically, for consumer demand and cost levels for the previous quarter. It will be a busy week, as out of the 500 companies in the S&P, more than 100 will be reporting earnings from Monday to Friday. Some of the biggest names to report will come from the tech space, with titanic names such as Apple, Amazon, Google, and Meta. Other notable tech earnings will include Spotify, T-Mobile, and several chip manufacturers. With higher interest rates and roughly 140,000 tech employees laid off since November of last year, it will be noteworthy to see how inflated costs have affected the profits of these big names. Investors and analysts will be waiting to see how earnings will be affected throughout transitions from rapid, post-pandemic increases in spending to more optimized cost structures.

Aside from the tech batch, several notable names will be reporting such as McDonald’s, Ford, and several fossil fuel companies. Exxon and ConocoPhillips will lead the fossil fuel department, providing a look into the recovery stage following the global energy crisis. On the pharmaceutical side, both Pfizer, Merck, and Eli Lilly & Co will be reporting their earnings, with Pfizer specifically giving a look into the ongoing demand for Covid-19 vaccines since the prominence of newer strains. With around a hundred other names in the earnings fray, investors will hope to see not only improvements in last year’s margins, but confident guidance as we head into the new year.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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