Wall Street records more sales this Wednesday, led by the Nasdaqafter the soft losses Tuesday as investors negatively discount the Tesla and Netflix results and remain attentive to the macro data. «These days The market dances to the tune of the results that are being publishedincreasingly intensely. And corporate results over the past 24 hours have been disappointing. 114 companies have already published their results. S&P500with its average EPS being +10.4% compared to the expected +9.1%. The sample is starting to be representative and It seems that they beat expectations, although only just.«, they indicate from Bankinter.
TESLA AND ALPHABET DISAPPOINT
Tesla and Alphabet On Tuesday, at the close of the market, they announced figures for the second quarter of the year that have upset. In the case of the electric vehicle manufacturer, it has registered between April and June a Net profit of 1.478 billion dollarswhich represents a 45% drop compared to the same period last year. The company's shares are down 10% in the session. As for Alphabet, the Google Matrix has obtained a profit of 23.619 billion dollarsan increase of 28.5% compared to the 18.368 billion obtained in the second quarter of the previous year. However, its shares fell 5% on Wall Street due to the failure to convince analysts with the YouTube advertising revenue. «Two of the 'Magnificent Seven' stocks failed to create euphoria when they reported their second-quarter results. The less-than-ideal set of earnings comes at a time when Investors wonder if AI surge has gotten ahead of itself«, says Ipek Ozkardeskaya, senior analyst at Swissquote Bank. For experts at Link Securities, «The figures published by both companies have been negatively received by investors.even though Alphabet's sales and profits have far exceeded analysts' expectations. However, certain doubts about the future course of its margins have caused its shares to fall in after-hours trading. This has not been the case with Tesla, a company whose sales figures, margins and profits have fallen below expectations.
MACRO TAKES PROMINENCE
The macroeconomy will be the protagonist during the next sessions thanks to the publication of several outstanding references. This Wednesday the results were announced Manufacturing and services PMI for Julywhich have shown greater expansion for service providers while manufacturers have returned to contraction territory after seeing their situation worsen at the beginning of the second half of the year. The agenda also includes the Second quarter GDP (Thursday)which is expected to rise to 1.9% from 1.4% previously, and the weekly unemployment data (Thursday). However, the most relevant data will be released on Friday, with the publication of June PCE consumption deflatorthe most followed price variable by the Federal Reserve (Fed)The consensus estimates that the overall rate will moderate to 2.4% from 2.6%, and that the underlying variable will relax timidly from 2.6% to 2.5%.
COMPANIES AND OTHER MARKETS
In today's business, Visa shares fall 4% after the company missed revenue forecasts in the second quarter. In other markets, oil prices fell West Texas rises 0.68% ($77.48) and the Brent advances 0.63% ($81.52). For its part, the euro appreciates 0.01% ($1.0853), and the ounce of gold earns 0.33% ($2,415). In addition, the 10-year US bond yield relaxes to 4.215% and the bitcoin rebounds 1.03% ($66,406).