Earnings season

This week, we look at earnings from Netflix, Goldman Sachs, and ASML.

After an underwhelming start to earnings from the magnificent 7, Microsoft, Meta, Apple, and Amazon will release earnings this week.

The Nasdaq 100 is in a precarious technical position after breaking below a near-term bullish trend line and slipping below the 20K level ahead of Magnificent Seven earnings.

Earnings season ramps up this week with banks, airlines, and an early glimpse at chip stocks reporting, as well as Netflix.

The DJIA, S&P 500, and Nasdaq 100 all look vulnerable to more downside as long as this week’s highs hold.

US indices point to a stronger start as corporate earnings continue to roll in. Earnings are providing a welcomed distraction after worries over the Fed keeping rates high for longer hurt sentiment last week. US PMI data is due shortly and is expected to show business activity grew at a faster pace. Tesla is due to report after the close after the EV maker's deliveries fell in Q1 and as the share price trades down 40% this year.

S&P 500 and the FTSE fell last week after the market pushed back Fed rate cut expectations and as geopolitical tensions hurt risk sentiment. Look ahead; US core PCE will be a key focus next week, as well as earning season with Tesla earnings and UK bank's earnings.

The Nasdaq 100 is finally showing signs of breaking down from its 2-month sideways range between about 17,800 and 18,400 ahead of the Magnificent Seven stocks' earnings reports.

Earnings season starts to ramp up this week with earnings from Netflix, Bank of America, and Procter & Gamble are among those reports that investors will be watching closely.

US indices are seeing diverging performance, with the DJIA looking relatively weak and the Nasdaq 100 uptrend remaining healthy.

The S&P 500 and Nasdaq 100 remain in healthy uptrends for now but the DJIA is showing some cracks and is the key index to watch for signs of weakness from here.