Earning reports of four companies will decide the market’s mood – Invezz

A handful of tech behemoths are on deck to report their earnings, including, Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc Class A (NASDAQ: GOOGL), Facebook, Inc. Common Stock (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN) and Tesla Inc (NASDAQ: TSLA). The four companies alone combine for nearly $10 trillion in market cap which makes them the most closely watched companies during earning season.

Hopes are pinned on the performance of four stocks

Apple, Microsoft, Alphabet, and Amazon account for nearly 20% of the entire weight of the S&P 500 index and their respective earnings reports should be watched closely, Piper Sandler Chief Market Technician Craig Johnson said on CNBC’s “Trading Nation.” These four giants will determine how the overall market moves given their outsized influence on the index.

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According to Johnson, current earnings estimates “look great” and strong earnings beats could help ease the concern of “peak everything.”

Apple, Alphabet, and Microsoft will report results on Tuesday, while Amazon will declare earnings on Thursday.

‘Exceptionally strong’ earnings season

Washington Crossing Advisors Portfolio Manager Chad Morganlander also commented on “Trading Nation” that earnings season so far has been “exceptionally strong.” Among the roughly 125 S&P 500 components that have reported earnings so far, 78% of them showed earnings growth. Looking forward, management companies of those that have yet to report earnings should provide positive guidance.

His advice is to invest in companies with a strong balance sheet and stay with companies that are constantly growing and are profitable. Among the tech giants, the list of top picks includes Microsoft and Alphabet. He said:

“Stay with companies that are consistently growing, consistently profitable, and well capitalized with very little debt. That should keep you in good stead,” 

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