VZ - Dividend Harvesting Portfolio Week 165: $16500 Allocated $1478.71 In Projected Dividends

2024-05-02 09:00:00 ET

Summary

• Tesla's Q1 2024 earnings led to a jump in shares, while Meta Platforms experienced a significant drawdown.
• Alphabet and Microsoft reported strong quarters, leading to a market bounce back after a mid-week sell-off.
• Amazon's Q1 earnings report, the Fed interest rate decision, and Apple's earnings report are expected to impact the market in the coming week.

It's been a wild ride as 4 of the Magnificent Seven reported Q1 2024 earnings this week. Shares of Tesla ( TSLA ) jumped on Tuesday, while Meta Platforms ( META ) experienced almost a -20% drawdown into the earnings call on Wednesday. Alphabet ( GOOGL ) And Microsoft ( MSFT ) closed the week with two great quarters, and the market bounced right back after the sell-off in the middle of the week. The S&P 500 ended the week up 2.41%, while the Nasdaq closed 3.95% higher. This is going to be a big week as Amazon ( AMZN ) reports its Q1 earnings on 4/30, followed by the Fed interest rate decision and FOMC conference on 5/1 . Apple ( AAPL ) will close out the week as it reports earnings on 5/2. Big Tech led the markets higher this week, but PCE , which is the Fed's preferred metric, came in at 2.7%, ahead of the 2.6% consensus expectation. Inflation remains sticky, and while it's not necessarily a problem for the largest companies, it's a negative for the overall business environment and Americans in general. I don't think there is any way we can see a rate cut in May, and I think the chances of the Fed pivoting in June are decreasing day by day....

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