CNBC Daily Open: Big Tech surpasses expectations
Publishing timestamp: 2023-04-26 02:05:45
Summary
Bank stocks fell due to First Republic's poor performance, but Alphabet and Microsoft beat earnings estimates, causing a potential rally in the tech sector. HSBC has identified four Chinese stocks that could benefit from the AI frenzy. US markets traded lower, but futures rose due to strong results from Alphabet and Microsoft. Losses in the financial sector weighed on major stock indexes, but Wednesday could be a different trading day if Meta continues the trend of big tech surpassing expectations.
Sentiment: MIXED
Tickers: MSFT, WAL, GOOGL, FRC, SCHW, META, UBSG-CH, PACW,
Keywords: microsoft corp, ubs group ag, los angeles, meta platforms inc, pacwest bancorp, banks, joe biden, business news, technology, first republic bank, charles schwab corp, markets, alphabet inc, united states, world markets, western alliance bancorp, earnings,
Source: https://www.cnbc.com/2023/04/26/stock-markets-big-tech-surpasses-expectations.html