In This Article:
Julie Hyman and Josh Lipton preview the biggest market stories and economic data to come out on Wednesday, April 30, including the latest earnings results from Microsoft (MSFT), Meta Platforms (META), Qualcomm (QCOM), Robinhood Markets (HOOD), and Stellantis (STLA), as well as April's Personal Consumption Expenditures (PCE) index.
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Time now for what to watch. Wednesday, April 30th starting off on the earnings front. Big tech in focus tomorrow with uh Microsoft and meta reporting after markets close. Microsoft announcing results for the third quarter. Analysts expecting solid cloud growth in Q3 driven by strong bookings and demand for AI services.
And meta will be reporting first quarter results. Analysts see ad pricing pressures ahead for the company with ad revenue slowing due to Chinese companies like Temu and Shein cutting spend because of rising trade tensions between the US and China. We'll be watching for that. And beyond the magnificent seven, we'll be getting more reporting from some big names including Caterpillar, Stellantis, and Qualcomm. Analysts of course will listen closely for any commentary on tariffs and full-year guidance on those earnings calls.
And taking a look at the economy, we're going to be getting some fresh inflation data on Wednesday with personal consumption expenditures or PCE. Economists forecast the Fed's preferred inflation gauge to slow in March to 0% for total PCE and 0.1% for core PCE on a month-over-month basis.
