By Sam Boughedda
Investing.com – U.S. stocks climbed out of a deep hole on Wednesday, lifted by strong earnings reports from Microsoft Corporation (NASDAQ:MSFT) and Visa Inc Class A (NYSE:V) that helped overcome lackluster results elsewhere.
Another onslaught of tech earnings hits Thursday, with reports from Apple, Amazon and Twitter Inc (NYSE:TWTR) as well as chip maker Intel Corporation (NASDAQ:INTC).
The tech sector has beaten off a double-whammy of investor fears about slowing growth in China because of the potential for more Covid-19 lockdowns and the Federal Reserve’s seemingly aggressive stance on taming inflation.
The Fed’s next policy meeting starts Tuesday, and by this time next week, investors will have answers on how much it will raise rates and what it sees down the road. Chair Jerome Powell will hold a press conference next Wednesday after the release of the rate decision.
The Biden administration has also been battling public perceptions about inflation, which is running at a pace not seen in decades. It has pushed Congress to approve funding for social programs such as child care and early education, arguing that the spending will help tame inflation by getting more people back to work.
Some lawmakers, however, have balked at additional spending beyond last year’s $1.2 trillion infrastructure spending bill.
President Joe Biden has also been searching for ways to cut gasoline prices, which have pressured household spending. He has agreed to release millions of barrels of oil from the Strategic Petroleum Reserve and has called out the oil industry for being slow to increase production.
Oil prices were inching higher on Wednesday, with Crude Oil WTI Futures rising 0.3%, to around $101 a barrel. The average price of gasoline at the retail pump in the U.S. is $4.134 a gallon compared with $2.885 a gallon one year ago.
Here are three things that could affect markets tomorrow:
1. Apple earnings
Apple Inc (NASDAQ:AAPL) will report after the bell. The technology giant beat earnings and revenue estimates in its previous release. Analysts polled by Investing.com forecasting earnings per share of $1.43 on revenue of $94.15 billion.
2. Amazon.com earnings
Amazon.com Inc (NASDAQ:AMZN), another of the FAANG constituents, will also release its report after the close, with analysts expecting earnings of $8.37 on revenue of $116.46 billion.
3. McDonald’s earnings
And finally, McDonald’s Corporation (NYSE:MCD) is another of the big names to report Thursday, this time before the open. McDonald’s is predicted to post earnings of $2.17, with revenue coming in at $5.57 billion.
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Source: https://finance.yahoo.com/news/apple-reports-amazon-earnings-mcdonalds-162750484.html