Can Magnificent 7 spark a market turnaround? We expect Microsoft, Meta, Alphabet and Tesla earnings to accelerate this week – Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)

As markets face rough weather, the importance of next week’s earnings cannot be overstated. Many things influence a company’s earnings reporting, including: tesla company (NASDAQ:TSLA), Meta Platforms Co., Ltd. (NASDAQ:Meta), Microsoft Corporation (NASDAQ:MSFT) and Alphabet Co., Ltd. (NASDAQ:GOOGL) (GOOG).

Seasons so far: FactSet said in a report released Friday that the percentage of S&P 500 companies reporting positive unexpected earnings and the percentage of companies reporting unexpected earnings are above the averages over the past 10 years. However, earnings per share (EPS) estimates for two healthcare companies have been revised down significantly, leading to lower earnings growth over the past two weeks.

According to FactSet, S&P 500 companies’ earnings per share have grown by a combined 0.5%, taking into account both previously reported experience and unreported company expectations. However, the metric was down from the 0.9% expected last week and the 3.4% expected at the end of the first quarter. Earnings growth in the same quarter could extend the streak of positive growth to three quarters.

So far, 14% of S&P 500 companies have reported March quarter results.

See also: Best tech stocks to buy right now

Think ahead: Next week, 158 S&P 500 companies, including 11 companies in the Dow 30, are scheduled to release their financial results. As bank profits taper, the spotlight turns to tech companies, which begin releasing quarterly scorecards this week.

In addition to some of the biggest tech companies in a group known as the Magnificent Seven, home builders, defense contractors, airlines and transportation companies will also release quarterly reports.

All eyes are on Tesla as analysts anticipate a lackluster report from the company. Analysts see margins shrinking further and the company potentially failing again in the first quarter.

AI powerhouses Microsoft, Alphabet and Meta are widely expected to report strong results. Following the recent tech-led selloff, Wedbush analysts said: Daniel Ives said, “We believe the first-quarter earnings will be a major positive catalyst for the tech sector, and we expect tech stocks to rise another 15% this year, adding to the strong start to 2024.” .

Keyname’s earnings schedule is as follows.

Monday

• Before the bell: Albertsons Companies, Inc. (NYSE:ACI), Verizon Communications Inc. (NYSE:VZ), Zions Bank, National Association (NASDAQ:Zion)
• After closing: Ameriprise Financial Co., Ltd. (NYSE:AMP), New Core Co., Ltd. (NYSE:NUE) cleveland cliffs company (NYSE:CLF), Packaging Corporation of America (NYSE:PKG) and SAP SE (NYSE:SAP),
  Quest Diagnostics Incorporated (NYSE:DGX)

Tuesday

• Before the bell: DR Horton Co., Ltd. (NYSE:DHI), Fiserve Co., Ltd. (NYSE:FI), General Electric Company. (NYSE:GE), general motors company (NYSE:GM), JetBlue Airways Co., Ltd. (NASDAQ:JBLU), kimberly clark corporation (NYSE:KMB), Novartis AG (NYSE:NVS), PepsiCo. (NYSE:PEP), Pulte Group Co., Ltd. (NYSE:PHM), Spotify Technology SA (NYSE: Spot), United Parcel Service Co., Ltd. (NYSE:UPS) and Xerox Holdings Corporation (NYSE:XRX), halliburton company (NYSE:HAL) and lockheed martin company (NYSE:LMT)
• After closing: Visa Co., Ltd. (NYSE:V), Texas Instruments Company (NASDAQ:TXN), Tesla, Steel Dynamics Co., Ltd. (NASDAQ:STLD), Seagate Technology Holdings plc (NASDAQ:STX), Mattel Inc. (NASDAQ:MAT), Chubb Limited (NYSE:CB), Canadian National Railway Company (NYSE:CNI) and Baker Hughes Company (NASDAQ:BKR)

Wednesday

• Before the bell: Thermo Fisher Scientific Co., Ltd. (NYSE:TMO), Old Dominion Freight Line, Inc. (NASDAQ:ODFL), norfolk southern corporation (NYSE:NSC), Humana Co., Ltd. (NYSE:HAM), Hasbro Corporation (NASDA:HAS), General Dynamics Co., Ltd. (NYSE:GD), Boston Scientific Corporation (NYSE:BSX), Biogen Co., Ltd. (NASDAQ:BIIB) and AT&T (New York Stock Exchange:T)
• After closing: Whirlpool Co., Ltd. (NYSE:WHR), western union company (NYSE:WU), Service Now Co., Ltd. (NYSE:NOW), QuantumScape Co., Ltd. (NYSE:QS), O’Reilly Automotive Company (NASDAQ:ORLY), Metaplatform; Meritage Homes Corporation (NYSE:MTH), Lam Research Corporation (NASDAQ:LRCX), Knight Swift Transportation Holdings Co., Ltd. (NYSE:KNX), International Business Machines Corporation (NYSE:IBM), ford motor corporation (NYSE:F) and Chipotle Mexican Grill Co. (NYSE:CMG)

Thursday

• Before the bell: Altria Group, Inc. (NYSE:MO), American Airlines Group, Inc. (NASDAQ:AAL), AstraZeneca (NASDAQ:AZN), Bristol-Myers Squibb Company (NYSE:BMY), caterpillar company (NYSE:CAT), CMS Energy Co., Ltd. (NYSE:CMS), Comcast Corporation (NASDAQ:CMCSA), Dow Corporation (NYSE:Dow), Harley-Davidson Co., Ltd. (NYSE:Hogg), Hearts Global Holdings Co., Ltd. (NASDAQ:HTZ), Honeywell International Co., Ltd. (NASDAQ:HON), Merck & Co. (NYSE:MRK), Mobileye Global, Inc. (NASDAQ:MBLY), Nasdaq Corporation (NASDAQ:NDAQ), Newmont Co., Ltd. (NYSE:NEM), Royal Caribbean Cruises Co., Ltd. (NYSE:RCL), sanofi (NASDAQ:SNY), Southwest Airlines Co., Ltd. (NYSE:LUV) and STMicroelectronics NV (NYSE:STM)
• After closing: Alphabet, Boyd Gaming Co., Ltd. (NYSE:BYD), Capital One Financial Corporation (NYSE:COF), Gilead Sciences (NASDAQ:Guild), Intel Corporation (NASDAQ:INTC), Juniper Networks, Inc. (NYSE:JNPR), KLA Co., Ltd. (NASDAQ:KLAC), Microsoft, Roku Co., Ltd. (NASDAQ:ROKU), Teladoc Health, Inc. (NYSE:TDOC), T-Mobile US, Inc. (NASDAQ:TMUS) and Western Digital Co., Ltd. (NASDAQ:WDC)

Friday

• Before the bell: AbbVie Inc. (NYSE:ABBV), Aon Co., Ltd. (NYSE:AON), Autoliv Co., Ltd. (NYSE:ALV), AutoNation Co., Ltd. (NYSE:AN), Burns Group Co., Ltd. (NYSE:B), Charter Communications Co., Ltd. (NASDAQ:CHTR), Colgate-Palmolive Company (NYSE:CL), Chevron Corporation (NYSE:CVX), ExxonMobil Corporation (NYSE:XOM) and Newell Brands Co., Ltd. (NASDAQ:NWL)

of SPDR S&P 500 ETF Trust (NYSE:SPY), The exchange-traded fund (ETF), which tracks the performance of the broader S&P 500 index, closed 0.87% lower at $495.16 on Friday, according to data from Benzinga Pro. The ETF has bounced back from its all-time intraday high of $524.61 on March 28th. Invesco QQQ Trust (NASDAQ:QQQ), an ETF heavily leveraged in high-profile non-financial high-tech companies, has fallen 7.72% from its intraday high of $449.34 (March 21).

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