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Bit of a Bounce Back Today | Daily Stock Market Wrap 4/22
Posted
April 22, 2024
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1:07Now PlayingStocks rebounded after a $2 trillion selloff, with investors hanging their hopes on whether big tech will meet the lofty expectations for artificial intelligence during the busiest week of the earnings season. About 180 companies in the S&P 500 — representing over 40% of the gauge’s market capitalization — are due to report their results this week. Stakes are high for the “Magnificent Seven” megacaps, whose profits are forecast to rise nearly 40% from a year ago, according to Bloomberg Intelligence. The focus on earnings comes after a rout fueled by geopolitical fears and signals the Federal Reserve will be in no rush to cut rates.
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