[The five major tech giants are releasing earnings reports this week, which may impact the performance of the NASDAQ index] According to Mars Finance, the five major tech companies will release their earnings reports this week: Alphabet (Tuesday), Microsoft (Wednesday), Meta (Wednesday), Apple (Thursday), and Amazon (Thursday). Approximately 32% of QQQ holdings are in the stocks of these five companies. The return rate of QQQ over the past 30 trading days is 1.8%, lower than the NASDAQ composite index's 2.4%. Strong earnings reports could push the index to break through the current resistance zone.
This week, a total of 169 S&P 500 companies are releasing quarterly earnings reports, including Ford, Visa, Uber, Exxon, and Mastercard. Among the companies that have released reports, 75% of earnings per share exceeded analysts' expectations, and 59% of revenues surpassed expectations. Nicholas Colas, co-founder of DataTrek Research, stated that while third-quarter earnings reports performed slightly better than recent trends, they still fall below long-term averages. However, the current earnings reports are sufficient to support the existing levels of the S&P 500 and indicate further improvements in the fourth quarter and in 2025.
