Earnings are a big risk for equities after the close with MSFT (-0.33% today) and GOOG (-0.9%) both reporting after the bell today.
The pair have been on a stellar run, including big gains so far this year. That’s stretched multiples and raised the stakes ahead of today’s reports.
The Nasdaq has risen to 15,500 from 12,600 largely on the strength of megacap tech stocks but progress stalled in the past week as the market waits for these earnings reports, as well as AAPL, AMZN and META on Thursday.
Other reports to watch today include AMD and SBUX. Tomorrow morning we’ll hear from Boeing, AMD and Mastercard.
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