NASDAQ Composite (^IXIC)
| Previous close | 15,696.64 |
| Open | 15,805.60 |
| Volume |
| Day's range | 15,660.58 - 15,839.00 |
| 52-week range | 11,833.07 - 16,538.86 |
| Avg. volume | 5,188,338,225 |
- Yahoo Finance Video
Citi strategist expects a 'beat and hold' earnings season
Nearly three-fourths of the S&P 500 companies (^GSPC) that have reported their first-quarter results so far have posted positive earnings surprises, according to FactSet data. When speaking to Yahoo Finance last week, Evercore ISI's Julian Emanuel described the broader markets (^DJI, ^IXIC, ^GSPC) as having "digestion problems" this earnings season around positive results. Citi Director of US Equity Strategy Drew Pettit sits down with The Morning Brief in-studio to weigh in on earnings results, plainly stating that markets haven't "fully reset [the] risk/reward [ratio]" even when factoring in positive earnings data. "The overall theme we expect for this quarter is beat-and-old. That's not really exciting at this point. I think a lot of companies are going to use the run we've had year-to-date, especially in a lot of the growth names that have outperformed, to maybe temper expectations," Pettit tells Yahoo Finance. "Because we think the back half, it's going to get a little bit harder to beat, especially when we get to Q4." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Investor playbook: The biggest earnings surprises so far
Wall Street gears up for a number of big tech earnings this week as many of the tech giants hold much of the value of the S&P 500 (^GSPC). As earnings from the Magnificent Seven roll out, investors may be looking for opportunities to enter the market. Simplify Asset Management Chief Strategist Michael Green and Wealth Enhancement Group Senior Vice President and Financial Advisor Nicole Webb join Market Domination to discuss investment opportunities during this big week of tech earnings and beyond. Webb gives her overview of earnings so far: "To us, it's just all of this playing out of where does the earnings growth for the rest of the year come from, and we had anticipated a deceleration from those mega tech names in the back half of this year. And so kind of below the surface we see this churning, the broadening that everyone is talking about and some of that relative outperformance from places like the equal weight S&P (^SPXEW)." Green follows up with: "I think the biggest surprises that have come out of earnings in general have been things like General Motors' (GM) announcement today that was accompanied by an astonishing buyback where they shrank the quantity of shares by around 17%. This is in contrast, that level of buyback is unprecedented for many of these companies for that to be happening in open markets. And it's just highlighting that the exceptionally cheap areas of the market as long as there's a little bit of support that's coming in through the interest rate space, that really looks like that could be an area of focus." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
Yahoo FinanceStock market today: S&P 500, Nasdaq notch big gains as Tesla kicks off 'Magnificent 7' earnings
The wait for Tesla results is on as investors look to Big Tech earnings to buoy stocks.
