NASDAQ Falls as Investors Look for Big Tech Earnings - InvestingChannel

NASDAQ Falls as Investors Look for Big Tech Earnings

The NASDAQ Composite slipped on Monday as investors awaited a slew of corporate earnings from big technology companies, as well as fresh economic data releases.

The Dow Jones Industrials slid 41.98 points to 33,766.98.

The S&P 500 fell 11.28 points to 4,122.24.

The NASDAQ dipped 95.72 points to 11,976.74.

Wall Street is looking ahead toward mega-cap tech earnings results this week in what will mark the halfway point of earnings season.

Alphabet, Microsoft, Amazon and Meta are among the high-interest names scheduled to announce their results for the first quarter.

Roughly 76% of S&P 500 companies that have reported earnings through Monday morning beat analyst earnings estimates, according to FactSet data. However, first-quarter earnings for S&P 500 companies are estimated to decline an overall 5.2%.

Communication services and information technology stocks within the S&P 500 have posted the biggest year-to-date gains of the index’s 11 total sectors, communication adding more than 19% and tech picking up 18%.

Prices for the 10-year Treasury gained ground, lowering yields to 3.52% from Friday’s 3.57%. Treasury prices and yields move in opposite directions.

Oil prices regained 81 cents to $78.68 U.S. a barrel.

Gold prices regained $4.50 to $1,995.00 U.S. an ounce.

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