{"id":48296,"date":"2024-10-28T18:28:30","date_gmt":"2024-10-28T18:28:30","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/"},"modified":"2024-10-28T18:28:30","modified_gmt":"2024-10-28T18:28:30","slug":"market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/","title":{"rendered":"Market Recap: Stocks Rise as Tech Giants Prepare to Report Earnings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/#Major_Indexes_Climb_on_Positive_Sentiment\" >Major Indexes Climb on Positive Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/#Tech_Sector_in_Focus\" >Tech Sector in Focus<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/#Market_Movers_and_Shakers\" >Market Movers and Shakers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/#Economic_Indicators_and_Upcoming_Events\" >Economic Indicators and Upcoming Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/#Global_Market_Influences\" >Global Market Influences<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-tech-giants-prepare-to-report-earnings\/48296\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Climb_on_Positive_Sentiment\"><\/span>Major Indexes Climb on Positive Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Monday, October 28, 2024, U.S. stock markets closed higher as investors eagerly anticipated a week filled with crucial earnings reports from tech giants and key economic data releases. The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> gained 0.4%<\/b>, while the <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average advanced 320 points, or 0.8%<\/b>. The <b>Nasdaq Composite also traded 0.6% higher<\/b>, continuing its upward trajectory.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sector_in_Focus\"><\/span>Tech Sector in Focus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This week marks a significant period for the technology sector, with five of the &#8220;Magnificent Seven&#8221; companies scheduled to report their third-quarter earnings. <b>Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>), Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>), Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>), Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>), and Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>)<\/b> are all set to release their financial results. Investors are keenly watching these reports, as they could potentially drive the Nasdaq Composite to new heights.<\/p>\n<p>Apple shares rose 0.9%, while Alphabet climbed 0.8% in anticipation of their earnings releases. The performance of these tech giants is crucial, given their substantial influence on market indices and overall investor sentiment.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Movers_and_Shakers\"><\/span>Market Movers and Shakers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several stocks made notable moves during the trading session:<\/p>\n<p>1. <b>Boeing (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BA\">BA<\/a>)<\/b>: The aircraft manufacturer launched a significant stock sale that could raise around $19 billion. However, this news led to a nearly 2% decline in Boeing&#8217;s shares during early trading.<\/p>\n<p>2. <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b>: The AI investor favorite continued its upward trend, gaining ground along with other large-cap technology stocks.<\/p>\n<p>3. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>: The electric vehicle maker&#8217;s stock traded slightly higher, building on its impressive 25% gain over the previous two sessions following a better-than-expected earnings report.<\/p>\n<p>4. <b>Oil Companies<\/b>: Shares of major oil companies, including ExxonMobil (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XOM\">XOM<\/a>), Chevron (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CVX\">CVX<\/a>), Valero Energy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=VLO\">VLO<\/a>), and Diamondback Energy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=FANG\">FANG<\/a>), were trading lower as crude oil prices fell more than 5% following Israel&#8217;s targeted strikes against Iran, which spared energy facilities.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators_and_Upcoming_Events\"><\/span>Economic Indicators and Upcoming Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely monitoring several key economic indicators and events this week:<\/p>\n<p>1. <b>Inflation Data<\/b>: The September Personal Consumption Expenditures (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) price index, a crucial inflation gauge, is expected to be released on Thursday.<\/p>\n<p>2. <b>GDP Growth<\/b>: A preliminary reading of the third-quarter Gross Domestic Product (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GDP\">GDP<\/a>) is scheduled for Wednesday, providing insights into the overall health of the U.S. economy.<\/p>\n<p>3. <b>Jobs Report<\/b>: The highly anticipated September jobs report is due on Friday, offering a comprehensive view of the labor market&#8217;s current state.<\/p>\n<p>4. <b>Federal Reserve Meeting<\/b>: The next Federal Reserve policy meeting is set for November 7, with investors looking for clues about future interest rate decisions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Influences\"><\/span>Global Market Influences<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The easing of geopolitical tensions over the weekend contributed to positive market sentiment. While Israel&#8217;s retaliatory strikes on Iran on Saturday initially raised concerns, fears were alleviated as oil and nuclear facilities were not targeted. This development led to a significant drop in oil prices, with <b>U.S. crude prices down 6%<\/b> and the international benchmark Brent also declining.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we move further into the week, market participants will be closely watching the performance of major tech companies and analyzing key economic data. The outcomes of these events could significantly influence market direction in the coming days and weeks.<\/p>\n<p>Mike Dickson, head of research and quantitative strategies at Horizon Investments, noted, &#8220;Given high valuations overall, there&#8217;s going to be a laser focus on if they&#8217;re able to continue to hit those growth numbers.&#8221; This sentiment underscores the importance of the upcoming earnings reports in shaping market expectations and performance.<\/p>\n<p>With the U.S. presidential election and the next Federal Reserve meeting on the horizon, investors should brace for potential market volatility and be prepared to adjust their strategies based on new information and market developments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Climb on Positive Sentiment On Monday, October 28, 2024, U.S. stock markets closed higher as investors eagerly anticipated 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