October 30, 2024

Stocks Are Rising Ahead of Big Tech Earnings

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The stock market is rising as traders prepare for a big week of earnings and economic data.

The S&P 500 was up 0.5%, while the Nasdaq Composite was up 0.6% and the Dow Jones Industrial Average has advanced 287 points, or 0.7%. Helping for the moment is the fact that the price of oil is down 6% as an Israeli attack of Iran spared Iran’s oil capacity.

Traders are looking ahead to Big Tech earnings. Alphabet, Meta Platforms, Microsoft and Apple will all report third-quarter results this week. Investors want to see evidence that these companies are monetizing the artificial intelligence aspects of their businesses and continuing to grow sales aggressively.

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