“You can have good earnings, good guidance, and good revenues, and the stock will sell off.” – 01:56
Peter Tuchman, Senior Floor Trader at TradeMas, joins Remy Blaire at the New York Stock Exchange to discuss the latest economic developments and earnings reports that are shaping the market landscape.
The pair focus on the MAG 7 companies—Microsoft, Meta, Amazon, and Apple—who recently reported their earnings. Microsoft made headlines by joining the four trillion dollar club, driven by a surge in demand for cloud services and AI. Meta saw a significant rebound, with shares jumping 12% as its core advertising business showed signs of recovery. In contrast, Amazon’s shares fell despite beating revenue expectations, primarily due to disappointing results from Amazon Web Services. Apple also exceeded third-quarter expectations, bolstered by strong iPhone sales as consumers rushed to purchase devices ahead of potential tariff-induced price hikes.
Lastly, Peter analyzes the current state of the S&P 500, which remains elevated despite recent pullbacks. Peter emphasizes the importance of buyer conviction in the market, with significant capital still on the sidelines, ready to invest. He anticipates that fresh money will flow into the market as we enter a new month, despite the complexities and uncertainties that lie ahead.