Earnings season continues to fuel Wall Street. Tesla and Apple stand out – Markets

The “earnings season” continues to boost Wall Street and fuel a greater appetite for risk. North American stock markets closed this Monday in positive territory, and investors are now anticipating the US Federal Reserve’s (Fed) decision on interest rates, which will be revealed this Wednesday.

The S&P 500, a reference for the region, grew 0.32% to 5,116.17 points and the technological Nasdaq Composite appreciated 0.35% for 15,983.09 points, while the industrial Dow Jones rose 0.38% for 38,386.09 points.

Among the main movements in the market, Tesla stands out, which increased in value 15.31% for 194.05 dollars. Elon Musk’s quick visit to China allowed the automotive giant overcoming some regulatory barriers that had prevented it from introducing its autonomous driving system in the country, through a collaboration with the Chinese company Baidu. China is Tesla’s second largest market.

Apple also achieved a strong appreciation on the stock exchange this Monday, climbing 2.48% to 173.50 dollars and driven by negotiations that the technology giant undertook with OpenAI (owner of ChatGPT) to use artificial intelligence (AI) technology in its devices.

In the spirit of the “earnings season” and, with the AI ​​fever underway, attention is now focused on Apple and Amazon’s quarterly accounts, which will be revealed later this week and promise to cheer up the markets. Furthermore, the Fed’s decision on interest rates is one of the main focuses for investors, although it is anticipated that policy rates will remain unchanged.

“The biggest issue is not in rates, because they are not going to go down this week, but in how ‘hawkish’ [agressivo] will be the speech of Fed officials, especially because they have already been extremely ‘hawkish'”, he stated

Thomas Hayes of Great Hill Capital told Reuters, anticipating an extension of high interest rates.