Peter Tuchman, Senior Floor Trader at Trademas, shares his insights on the mixed earnings reports from major tech companies like Meta, Microsoft, Amazon, and Apple.
We discuss the market’s reaction to earnings from the past week, with Amazon and Apple seeing gains while Meta faced a significant drop. Tuchman highlights the baffling nature of the week, particularly with the ongoing government shutdown affecting economic data and the anticipation surrounding the Federal Reserve’s decisions on interest rates.
We also touch on the recent meeting between President Trump and China’s Xi Jinping, which has brought some positive sentiment to the market. Looking ahead, Peter shares his thoughts on the potential for a year-end rally, suggesting that the market could continue to rise, with targets of Dow 50,000 and S&P 7,000 in sight.