🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

AMD earnings, Uber Technologies, Pfizer reports: 3 things to watch

Published 2023-07-31, 03:54 p/m
© Reuters.
GOOGL
-
AAPL
-
AMZN
-
PFE
-
AMD
-
IXIC
-
GOOG
-
UBER
-

Investing.com -- Stocks were muted on Monday as a deluge of megacap earnings started to hit this week, and as investors await this week's jobs report for July.

This week's reports include earnings from Apple (NASDAQ:AAPL) and Amazon.com (NASDAQ:AMZN), which follow positive earnings reports from Meta Platforms and Alphabet (NASDAQ:GOOGL) last week. Strong earnings have helped boost stocks, which have already been rising this year on the prospect of the Federal Reserve nearing the end of its interest rate increases.

The Nasdaq is up nearly 37% this year so far, also fueled by hopes for the growth of artificial intelligence.

Friday's jobs report for last month is expected to show the economy added jobs, though at a slower pace than in June, but still record-low unemployment. Minneapolis Fed President Neel Kashkari said over the weekend that the U.S. economy has been surprisingly resilient, and that even if unemployment rose to 4% it could still achieve a soft landing, which means no recession, as the Fed pushes inflation back to its 2% target.

The Fed won't meet to decide on rates again until September, but it has its annual conference in Jackson Hole, Wyo., later this month, where policy makers could speak about the outlook for rates and the economy.

Here are three things that could affect markets tomorrow:

1. AMD earnings

Chip maker Advanced Micro Devices Inc (NASDAQ:AMD) is expected to report earnings per share of 57 cents on revenue of $5.3 billion.

2. Uber reports

The ride-hailing firm Uber Technologies Inc (NYSE:UBER) is expected to report a 1 cent a share loss on revenue of $9.3B.

3. Pfizer earnings

Drug maker Pfizer Inc (NYSE:PFE) is expected to report earnings per share of 57 cents on revenue of $13.4B.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.