Home Stock Market A 'monster hit' for Tesla and six other predictions of a good...

A ‘monster hit’ for Tesla and six other predictions of a good week of earnings

Stocks are struggling to find direction in the busiest early week of earnings season.

About a third of the S&P 500
+ 1.09%

The index will report first quarter earnings this week, with Tesla
+ 1.35%

and Big Tech companies capable of attracting the most interest from investors.

Tesla will start everything on Monday after it closes, followed by Microsoft
+ 1.55%

and Google Owner’s Alphabet
+ 2.09%

on Tuesday, Facebook
+ 1.55%

and Apple
+ 1.80%

on Wednesdays and Amazon.com on Thursday.

There’s also a little problem of one Federal Reserve policy meeting and first quarter US gross domestic product (GDP) data.

In ours call of the dayMott Capital’s Michael Kramer said he wouldn’t be surprised to see Tesla post a “huge amount of income”.

“The reason is simple, bitcoin has risen significantly in the first quarter and those unrealized gains will show up under other income. Therefore, it is wise to rely on it to understand how powerful the results are. “Elon Musk’s company bought $ 1.5 billion in bitcoin in February, then the cryptocurrency rose to an all-time high in April before falling back. Tesla reported on deliveries. stock in the first quarter exceeded expectations.

However, Kramer said Tesla shares are trending lower, with a potential ‘bearish flag’ suggesting lower prices. “Maybe for the first time, the stock goes up to about 800 dollars. But once it breaks $ 700, it could be the start of a pretty steep and long pullback, ”he said.

For bitcoin
+ 11.28%
Kramer warned of a ‘bear flag’ formation and said the current phase of consolidation is likely to end with “another sharp drop”. Cryptocurrency affected by it biggest weekly loss since March 2020 last week, has briefly fallen below 50,000 dollars. Bitcoin up 11% at the beginning of Monday trading at $ 53,406, according to CoinDesk. Kramer says the next level of support could range from $ 42,000 to $ 43,000.

Going back to Big Tech’s earnings, and Mott Capital noticed different fortunes for the trio of Apple, Amazon, and Microsoft. Kramer says that while Amazon is showing signs of bullishness, he expected the stock to rise around $ 3,485 before earnings but withdrew some of those gains and dropped to $ 3,000. That could be a similar story for Apple, with the stock hitting a pre-$ 138 earnings before falling back to $ 127 in the following days, Kramer said, citing the company’s lack of guidance. .

But Microsoft could be set to continue its momentum, further rising to $ 280, he said.

When it comes to the tech-heavy Nasdaq Composite
+ 1.44%
Mott Capital sees “clear downtrend”, it is expected to continue. However, the S&P 500 is more balanced, however, a failure to quickly surpass Friday’s high on Monday means that the current level around 4,185 will become the near-term high for the market. school.


US stock futures
+ 0.11%



slightly lower on the front side of the opening. European stocks were flat in early trading, but the continent’s tourist names gained on reports of vaccinated Americans coming to Europe this summer.


The European Union is set to open its borders to American tourists who were fully vaccinated against COVID-19 this summer, the New York Times reported on Sunday.

Elon Musk plans to hold “Saturday Night Live” on May 8. Here’s what His opening monologue (to be reported by the SEC) could be.

Four GameStop executives are likely to leave the company with The awarded shares are currently worth about $ 290 million The Wall Street Journal reported after stock prices rose this year.

2021 Oscar: “Nomadic Land” by Chloe Zhao Get the best photo on Sunday at the 93rd Academy Awards, where Zhao was born in China, also became the second woman to win the Best Director award and the first woman of color.

Random reading

Spotify founder Daniel Ek offer to buy Arsenal With help from three of the football club’s greatest ever players.

Hundreds ‘fight’ for the name Josh at the noodle brawl at the Nebraska swimming pool

Need to know start early and be updated until the bell opens, but register here have it sent once to your email inbox. The version sent by email will be sent out at around 7:30 am Eastern time.

Want more for the day ahead? Registration for The Barron’s Daily, an investor morning press conference that includes exclusive commentaries from Barron and MarketWatch writers.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments