{"id":15215,"date":"2023-10-30T09:45:20","date_gmt":"2023-10-30T08:45:20","guid":{"rendered":"https:\/\/creandgroup.com\/opinion-article\/los-informes-de-resultados-no-son-bien-recibidos\/"},"modified":"2024-01-25T10:07:16","modified_gmt":"2024-01-25T09:07:16","slug":"earnings-reports-are-not-being-well-received","status":"publish","type":"opinion-article","link":"https:\/\/creandgroup.com\/en\/opinion-article\/earnings-reports-are-not-being-well-received\/","title":{"rendered":"Earnings reports are not being well received"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">It was a tough week for the market. At the start of last week, the S&amp;P 500 fell below its 200-day moving average. By the end of the week, the S&amp;P 500 settled 10.3% lower than the July 31 closing high (which is a market correction) and tested support near the 4,100 level.\u00a0 Geopolitical angst contributed to the overall negative bias throughout the week, but tensions peaked on Friday following reports that the US carried out airstrikes against Iranian backed targets in Syria. Separate reports indicated that Israel is expanding ground operations in Gaza.\u00a0 \u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Many stocks participated in a broad retreat. The Invesco S&amp;P 500 Equal Weight ETF (RSP) and the market-cap weighted S&amp;P 500 each fell 2.5% this week.\u00a0Only one of the 11 S&amp;P 500 sectors logged a gain (utilities +1.2%), while the communication services (-6.3%) and energy (-6.2%) sectors saw the largest declines.\u00a0 Weakness in the communication services sector was driven by Alphabet (GOOG), which logged a 9.8% decline on the week after\u00a0an earnings report that contained some relatively disappointing growth for its cloud business, and Meta Platforms (META), which fell 3.9% following its earnings report. Microsoft (MSFT) initially moved higher following its report but gave back the gains before the end of the week.\u00a0 Amazon.com (AMZN) was the exception as it managed to hold on to its gains following its report. \u00a0There were several other large cap companies that reported well with Verizon (VZ), Coca-Cola (KO), Dow (DOW), RTX (RTX), General Electric (GE), and 3M (MMM) being among the standouts in that respect.\u00a0 However, it was not enough to stem the market\u2019s losses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In political news, Representative Mike Johnson (R-LA) was elected Speaker of the House after receiving unanimous support from the Republican Party.\u00a0 Johnson stated he would work towards extending the government\u2019s budget until at least January 15<sup>th<\/sup>.\u00a0 The budget is currently set to expire on November 15<sup>th<\/sup>.\u00a0 \u00a0<\/p>\n","protected":false},"featured_media":13178,"template":"","categories":[],"tags":[],"class_list":["post-15215","opinion-article","type-opinion-article","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/opinion-article\/15215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/opinion-article"}],"about":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/types\/opinion-article"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media\/13178"}],"wp:attachment":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media?parent=15215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/categories?post=15215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/tags?post=15215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}