To The Moon

The big techs $Microsoft(MSFT)$ , $Alphabet(GOOG)$ , $Amazon.com(AMZN)$ and $Meta Platforms, Inc.(META)$ have scheduled to announce their latest quarterly earnings results next week between 24-26 Oct, as the earnings season runs into high gear.

So far, earnings results released have been mixed, with $Netflix(NFLX)$ rocketing and Tesla plummeting following their earnings disclosure this week.

Rising geopolitical conflicts have led to escalating crude oil prices that are stroking renewed fears of rising costs and higher-for-longer interest rates to rein in the sticky inflation. At the same time, plunging treasury note and bond prices have led to recent heights in treasury yields, pushing up borrowing costs for businesses and depressing valuations of stocks especially of high growth tech companies.

Despite expectations of earnings beats and in the case of Netflix actual beat, I expect the stock prices of Microsoft, Alphabet, Amazon, Meta Platforms and Netflix to be subdued next week, as the market cautiously await decisions from the Fed meeting at the end of the month. After a somewhat hawkish stance by the Fed chair in his recent speech, the market is increasingly edgy on the risk of another rate hike by the end of this year and a looming recession next year.

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