CandleFocus

Major earnings week weighs on tech stocks 

The US equities market has bounced back slightly after the drop in tech stocks, driven by disappointing outlooks from Meta and Microsoft. Although both companies surpassed earnings expectations, their share prices fell due to disappointing projections. Microsoft estimates lower revenue for Q4, and Meta plans to continue its spending spree through 2024. The overall disappointment in earnings and economic data suggests a potential sustained period of higher rates.

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