Yesterday I listed the following 4 companies reporting Thursday.
Amazon, Chipotle Mexican Grill, Comcast, Ford Motor,Intel, Kenvue, Keurig Dr Pepper, Merck,Mastercard, Pioneer Natural Resources, Royal Caribbean, Shell, Southwest Airlines, andUnited Parcel Servicereport on Thursday;
Mastercard and UPS reported early yesterday and disappointed the market ... Despite a strong revenue and earnings beat and talking up resilient consumer spending, Mastercard was sold down over 5% after commenting that was some softening in October spending ... UPS also had a good earnings beat, but was sold down on on commenting about an October slowdown ... markets are want to punish for any perceived negativity it seems.
Intel reported noon and had a strong revenue and earnings beat and positive forward guidance and was up over 8%, extending into after market trade.
Amazon reported after market close with a strong revenue and earnings beat and positive guidance and is up over 5% in after market trade ... likely will have some impact on Friday's trading.
In addition to the above, what appeared to drive Thursday's markets was further declines in big tech Meta and Google following disappointing reporting a day earlier, with Meta down a further 3.7% and Google down a further 2.6% (I didn't factor that) ... whether the good Amazon and Intel results will steady markets remains to be seen imo.
US GDP for Q3 was strong at 4.9% suggesting recession was still unlikely a near term concern ... I thought that would buoy markets, but possibly the higher and/or longer interest rate concerns might have played a role in negative investor sentiment.
