Markets
Tech Profits, Cryptocurrencies and Interest Rates: What to Watch
Photo: Tunvarat Pruksachat (Getty Images)
After a volatile week Characterized by some economic growth and the intersection of Bitcoin and politics, this week will focus on what comes next.
A chipmaker that works with Nvidia just posted its highest profit in 6 years
Investors will be watching tech giants’ earnings, cryptocurrency market performance and what the Fed chairman has to say about interest rate cuts.
Let’s see what will happen:
Will the Fed lower interest rates?
The Federal Open Market Committee (FOMC) meeting is scheduled for Wednesday, and there is Reports indicate Fed may lower interest rate during the meeting. Fed Chairman Jerome Powell will speak after the meeting to announce the decision.
Tech giants to release results
Like last week, major tech companies will report on their financial health this week. On Tuesday, Microsoft and Advanced Micro Devices will report results after the close, followed by Meta after the close on Wednesday. On Thursday, Apple and Amazon will share their results after the close.
Other important benefits to watch out for
On Monday, McDonald’s will report earnings before the market opens. Airbus and JetBlue will report earnings on Tuesday, while Boeing will report earnings on Wednesday. On Thursday, cryptocurrency companies such as Coinbase and MicroStrategy will report earnings. Berkshire Hathaway will report earnings on Friday.
Keep an eye on the cryptocurrency market
It will be interesting to see how the cryptocurrency market will perform this week. Indeed, former President and Republican candidate Donald Trump’s speech at the Bitcoin conference could have an impact on cryptocurrency prices. In addition, the performance of Ether spot ETFs and Fed Chairman Jerome Powell’s speech could also have an effect on the cryptocurrency market.
Other macroeconomic reports to watch
The Consumer Finances report and the Job Openings report will be released on Tuesday, followed by the ADP employment report on Wednesday. On Friday, the U.S. employment report and the unemployment rate will be released. These reports will indicate the direction of the economy and whether the Fed is ready to cut interest rates.