US stock futures climbed in premarket trading on Monday ahead of a big week of earnings reports from tech giants like Microsoft, Alphabet, Meta, and Tesla. The first-quarter results for these companies, along with others such as ExxonMobil and Johnson & Johnson, are highly anticipated as they will offer insight into the current state of the economy and profitability in various industries.
Microsoft is expected to report earnings on Tuesday, followed by Alphabet on Thursday. Meta and Tesla are set to release their earnings reports later in the week. Investors will be closely watching these reports for signs of strong profit growth, particularly in relation to artificial intelligence (AI) and its impact on companies' bottom lines.
Meanwhile, US GDP and inflation data are also scheduled for release this week. These economic indicators will provide further insight into the Federal Reserve's battle against inflation and the overall health of the economy.
Investors will be hoping that these tech giants can deliver a much-needed boost to the market, which has been struggling in recent weeks due to concerns over inflation and interest rate hikes. However, it is important to note that there may be bias in some sources reporting on these earnings reports.
In other news, tensions continue to escalate between Israel and Iran as a new compound of tents is being built near Khan Younis in the southern Gaza Strip. Israel has signaled its intention to evacuate civilians from Rafah during an anticipated offensive on the city. Meanwhile, Iranian-backed militias attacked a US facility in Syria for the first time since February 4th.
Stay tuned for more updates as earnings season continues and geopolitical tensions persist.