US profit growth mushrooms ahead of Fed decision and megacap earnings

EarningsMacro Impact 4
โดย Reuters·Read original
Summary · why it matters

US corporate profit growth has surged, with aggregate S&P 500 earnings growth for the second quarter now estimated at 39%, more than 10 percentage points higher than at the start of July, according to LSEG data. The sharp upward revision comes as markets brace for the Federal Reserve's latest policy decision, where futures imply a one-in-three chance of a rate rise and Deutsche Bank notes the most split market expectations ahead of a Fed meeting since 2018. The earnings picture is clouded by a warning from South Korea, where chip giant SK Hynix plunged nearly 10% after a record six-fold jump in quarterly profits missed forecasts, dragging the KOSPI down as much as 12.6% before it pared losses to close 6% lower. Investors now await results from Microsoft and Meta after the bell, with cash burn and leverage in focus after Alphabet and Tesla stoked concerns over high and rising AI capital expenditure last week. Meanwhile, consumer confidence slipped to 90.8 in July from 92.2 in June, confounding expectations for a rise, and oil prices firmed back above $87 per barrel after the tense truce in the Iran conflict was broken.

Impact on stocks 6

Artificial Intelligence▼ · 3 stocks
Alphabet Inc Class C
GOOG
▼ NegativeCapitalrelevance

Alphabet stoked concerns over high and rising AI capital expenditure last week.

Semiconductors▼ · 1 stocks
SK Hynix Inc
000660
▼ NegativeDemandrelevance

SK Hynix plunged nearly 10% after a record six-fold jump in quarterly profits missed forecasts.

Spatial Computing / AR/VR▲ · 1 stocks
Electrification & Mobility▼ · 1 stocks
Tesla Inc
TSLA
▼ NegativeCapitalrelevance

Tesla stoked concerns over high and rising AI capital expenditure last week.

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