QQQM - S&P 500 Nasdaq 100 Slide Ahead Of Microsoft Earnings

2024-07-30 19:50:00 ET

Summary

• The S&P 500 and Nasdaq 100 continue their slide following underwhelming earnings reports and poor risk sentiment.
• Microsoft’s Q4 earnings are anticipated to be $2.94 EPS on revenue of $64.5 billion, with cloud revenue expected to reach $36.8 billion. Investor focus is on AI earnings and future spending plans.
• JOLTZ job openings exceeded expectations, and coupled with easing inflation, rate cut discussions are prevalent.

Earnings season has surprised many as companies worldwide lower their full-year sales and profit guidance. This comes against a backdrop of rate uncertainty, the China growth picture and rising geopolitical uncertainty....

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