Earnings Outlook: Solid Earnings but Not Enough to Rally On
- By John Tierney
- 2 min read
Summary
- Earnings have been mostly positive, but equities succumbed to the pressures of a hawkish Fed, a robust labour market report and higher Treasury yields.
- Tech companies that provide cloud services and equipment to companies looking to upgrade their technology are doing well, those that are consumer-facing less so.
- The New York Times reported stronger digital advertising, seeming to defy the experience of the tech giants. Could it be that ad spending is shifting away from Alphabet and Meta rather than slowing?
- Some 115 companies in our Russell 1000 universe report this week. Probably the biggest and most closely watched will be Walt Disney on Tuesday.
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