The Tuesday Tell
Followed by the Wednesday Word Salad
Yep, this week is likely the most important of 2024 in the markets. We get reality checks in technology earnings and the Fed setting a true footing for the market on their rate cutting intentions. For technology earnings, Tuesday features over $5 trillion of market cap reports from Microsoft, Google and AMD. On the one hand, the numbers are the numbers for these companies, but the word salad can be quite tasty and served chilled. After all, listen to Intel’s CEO Pat “robot” Gelsinger’s ten minute introduction and you would think they are doing great, in fact killing it despite the massive revenue and EPS cuts spelled out between the word salad and the entree warm mutton! Perhaps we should start with expectations for Tuesday and the results from the prior quarter earnings and stock reactions?