Big Week of Quarterly Earnings

While the Wall Street moves cautiously over the concern about the ever-increasing coronavirus cases and uncertainty over the most anticipated $1.9 trillion U.S. fiscal stimulus, this week main attention will be on the Q4 earnings season with an earnings calendar that includes some of the market’s biggest names. The Nasdaq index adding 0.69% on Monday closing and hitting a record high on hopes of bumper earnings later this week from mega-cap technology companies. Earnings for S&P 500 companies are expected to rise 23.7% this year after falling 14.1% in 2020, according to Refinitiv.

During the last week, several tech firms including IBM and Intel reported mixed earnings results. While the entertainment giant Netflix again surprised the investors with strong subscribers’ numbers and the company revenue increased 21%, to $6.6 billion.

This week the big tech firms including Apple, Facebook, Microsoft, AMD, and Honeywell all due to report the quarterly earnings. Microsoft will kick off tech earnings on Tuesday as the stock closed 1.58% higher overnight, while other so-called "stay-at-home" winners such as Facebook Inc and Apple Inc also rose on Monday. On Wednesday, along with Facebook, the tech giant Apple Inc. also scheduled to report its Q4 results.

On the other hand, Tesla also will report the Q4 financial results on Wednesday. The automaker reported its fifth consecutive quarterly profit on October 22 last year with revenue of $8.8 billion. Tesla shares trading extra volatile ahead of the announcement. The stock climbed to a fresh all-time high of $900 and closed more than 4% on Monday.

Aside from these big tech names, there are also other notable names from other sectors. They include Johnson & Johnson, Abbott Laboratories, Boeing, Mastercard, and McDonald’s.

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