Alphabet, Exxon, UPS Earnings: 3 Things to Watch

(C) Reuters.

By Dhirendra Tripathi — Tech stocks rose to close one of Nasdaq’s worse starts to the year as inflation and volatility chased away investors.

Growth and tech stocks have been under pressure, pulling the Nasdaq down more than 10% for the month.

Six of the 11 major S&P sectors advanced, led by a rise in technology and consumer discretionary stocks, Reuters reported.

Broadly stocks are logging one of the worst months since the pandemic began in 2020. Last week the Federal Reserve said it was going to start raising rates to combat inflation that is running at 40-year highs. Some analysts expect it to raise rates five times this year.

It’s a big earnings week, with tech bellwethers such as Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL) on tap.

Reuters reported that one-third of S&P 500 companies have reported as of Friday and most of them have beaten analyst expectations.

Here are three things that could affect markets tomorrow:

1. Alphabet earnings

Alphabet Inc Class C (NASDAQ:GOOG)’s fourth-quarter revenue is seen at a record $72.19 billion and profit per share at $27.65, according to analysts tracked by Analysts will be listening to hear what the outlook is for Google.

2. Exxon earnings

Exxon Mobil Corp (NYSE:XOM) is expected to report a fourth-quarter profit per share of $1.93 on revenue of $85.01 billion. Analysts will be listening for executive comments on the state of oil demand now that prices have topped $90 a barrel.

3. UPS earnings

Logistics giant United Parcel Service Inc (NYSE:UPS)’ fourth-quarter revenue is expected to be $27.06 billion with profit per share coming in at $3.09. Analysts will be listening for details about supply chain and costs.

Reuters and contributed to this report

Alphabet, Exxon, UPS Earnings: 3 Things to Watch

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