megacaps

Marketmind: Megacaps scatter in the cloud

Reuters0

A look at the day ahead in U.S. and global markets from Mike Dolan Differing fortunes in artificial intelligence and cloud computing have seen the herd of Big Tech megacaps scatter as the earnings season unfolds – offsetting optimism on Wednesday about a well-flagged and long-delayed Chinese economic stimulus. After the bell on Tuesday, Google-parent Alphabet’s reported its cloud business suffered in the September quarter while rival Microsoft said its equivalent took off, suggesting the Windows maker’s AI investment had given it the edge. While Alphabet’s shares fell 7% in out-of-hours trading, Microsoft’s surged 5%. Together, both stocks account for

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Marketmind: US growth topping China as megacaps report

Reuters0

A look at the day ahead in U.S. and global markets from Mike Dolan The two biggest economies in the world are both beating forecasts but U.S. economic growth looks to have leapfrogged China’s expansion, in a somewhat alarming development for Federal Reserve watchers and bond markets. With the horrors of the war in Gaza and Israel leaving the world on edge, U.S. President Joe Biden’s visit to the region on Wednesday remains a focal point for what happens next there. Energy prices are climbing again in trepidation, but global markets have turned to a deluge of economic and corporate

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Analysis-Tech wreck shows U.S. megacaps not immune to corrosive Fed tightening

Reuters0

By Caroline Valetkevitch, Lewis Krauskopf and Sinéad Carew NEW YORK (Reuters) – Disappointing earnings from the megacap companies that led markets higher for years are cratering their shares and sending a disconcerting message about a U.S. economy that until recently had appeared to be weathering a barrage of interest rate hikes. Amazon was the latest corporate giant to deliver bad news, saying on Thursday that costs might eviscerate profits in the current quarter. Its shares fell 17% in extended trading, wiping $190 billion from its market capitalization. Amazon’s report was the latest worrying announcement from the big tech-focused companies that

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