According to Blockworks, five major tech giants will release their earnings reports this week: Alphabet (Tuesday), Microsoft (Wednesday), Meta (Wednesday), Apple (Thursday) and Amazon (Thursday).
A total of 169 S&P 500 companies released quarterly earnings this week, including Ford, Visa, Uber, Exxon and Mastercard. Of the companies that have released earnings, 75% exceeded analysts' earnings per share expectations and 59% exceeded revenue expectations. Nicholas Colas, co-founder of DataTrek Research, said that although the third quarter earnings performance was slightly better than the recent period, it was still below the long-term average. However, the current earnings are sufficient to support the current level of the S&P 500 and indicate further improvement in the fourth quarter and 2025.