Get ready for a big slate of tech earnings after the bell
What's on the docket
It's a huge day for earnings after the the US closing bell including:
That's three of the top-10 market cap companies in the world.
The best economic indicator though might be Whirlpool, which also reports today. It has great insight into consumer demand for durable goods. Powell today highlighted that demand for those kinds of goods has wavered in the past few months and Whirlpool might comment on its order backlog. They could also offer some clues about input/output inflation.
As for big cap tech, take a look at Microsoft (reported yesterday) and Netflix (reported last week). Both absolutely crushed estimates and after initial pops, have struggled. MSFT is now red today.
That might be skewed by the overall risk picture today but even before stocks went off the rails, MSFT was only 1% higher. I fear more selling of the fact.