Google is scheduled to report earnings today after the close.. (Photo by Smith Collection/Gado/Getty … [+]
After fifteen consecutive Mondays of stocks closing higher, the streak finally came to an end yesterday. The S&P 500 was down 0.2%, closing at its lowest level since May; however, the Nasdaq eked out a small gain of 0.3%. The yield on the 10 year note briefly touched 5% for the first time since 2007 before pulling back to settle at 4.836%. However, earnings season kicks off in earnest today with Google
This morning, Coca-Cola
After the close tonight, Alphabet and Microsoft are both scheduled to report. For Microsoft, I’ll be interested to hear how they plan to integrate their recently completed acquisition of Activision
A couple other stocks making news today include Chevron
Elsewhere, bitcoin is on the move, trading as high as $34,900 in premarket. It appears we’re inching closer to approval of a spot bitcoin ETF. That is welcome news for crypto traders, sending bitcoin to levels not seen since May of 2022.
Finally, I want to briefly return to earnings. These next two weeks will be filled with some of the biggest names scheduled to report. Stocks soared in the first half of the year but have struggled so far in the second half. The Nasdaq Composite is up less than 1% since the end of May. That follows a 24% gain in the first six months of the year. The S&P 500 gained nearly 9% through the first half of the year but is also up less than 1% since. Therefore, I think earnings and forward looking statements are going to take on a significant level of importance, especially in light of the geopolitical situation and rising interest rates. As always, I would stick with your investing plan and long term objectives.
tastytrade, Inc. commentary for educational purposes only. This content is not, nor is intended to be, trading or investment advice or a recommendation that any investment product or strategy is suitable for any person.