As equity markets prepare for the next trading session, Wall Street is balancing cooling Treasury yields against a heavy wave of upcoming Big Tech earnings, with the Dow Industrials closing up more than 140 points while major tech indices continue to retrace from earlier monthly highs, as CNBC reported.
The Bottom Line
- The Nasdaq-100 sits down from its earlier October peak, while chip indices face deeper corrections.
- Big Oil majors Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) notched all-time highs during Monday’s session.
Consumer Health Under the Microscope in Tuesday Earnings
The state of the American shopper takes center stage as three prominent brands step up to the earnings podium. Hormel Foods (NYSE: HRL) CEO John Ghingo is slated to appear on CNBC’s “Squawk on the Street” during the 11 a.m. hour ET. The stock enters the report down 17% over a three-month span and 21% below its June high.
Conversely, Coca-Cola (NYSE: KO) reports Tuesday morning following a stronger trajectory. The beverage giant’s stock gained nearly 13% over the past three months, touching a new high last week. Joining the morning lineup, Royal Caribbean (NYSE: RCL) CEO Jason Liberty will discuss travel demand as the cruise operator navigates shares down 4% in three months and 21% off its February high.
Big Tech Capital Expenditures and AI Employment Pressures
| Index / Sector / Asset | Performance Metric | Reference Point |
|---|---|---|
| Nasdaq-100 (.NDX) | Off | From October high |
| iShares Semiconductor ETF (SOXX) | Down 25% | From high |
| iShares MSCI Brazil ETF (EWZ) | Fell nearly 20% | Post-election session |
Commodities and International Markets Shift
In emerging markets, political outcomes altered valuations significantly. Following the re-election of Luiz Inácio Lula da Silva in Brazil, the iShares MSCI Brazil ETF dropped nearly 20% on its first trading day post-vote, bringing the fund down 30% from its 52-week high. Meanwhile, Israel’s contentious general election scheduled for Tuesday leaves the iShares MSCI Israel ETF sitting 12% off its May high, though maintaining an 11% gain year-to-date.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
