CNBC Daily Open: Big Tech beats expectations
Publishing timestamp: 2023-04-26 01:06:15
Summary
Bank stocks fell due to concerns over First Republic Bank, but tech giants Alphabet and Microsoft beat earnings estimates, causing their shares to rise and potentially lifting broader markets. UBS saw a decline in profit due to litigation provisions, but its wealth management unit attracted $28 billion. First Republic Bank saw a significant drop in deposits and its shares plummeted. Overall, losses in the financial sector weighed on major stock indexes, but optimism in tech could potentially save the markets.
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-beats-expectations.html