Published on 26 Apr 2024 on Benzinga
Tech Stocks Rebound As Magnificent 7 Roar On Strong Earnings, Energy Giants Tumble: What's Driving...
Strong earnings reports from Alphabet Inc. GOOGL and Microsoft Corp. MSFT have restored positive sentiment in the market, sweeping away fears of increasing risks of stagflation that had emerged from Thursday’s data.
Although the latest PCE inflation report signaled higher-than-expected annual readings, they failed to meaningfully impact on already low expectations for Fed rate cuts. Rather, investors opted to focus on positive signals stemming from corporate earnings.