By Liz Moyer
Investing.com -- TheS&P 500 notched another record high on Monday as investors braced for a wave of big tech earnings and the latest musings by the Federal Open Market Committee on the state of the economy.
After Netflix Inc (NASDAQ:NFLX) disappointed the market with lower than expected new subscriber adds over the past quarter, investors looked warily at the FANG gang, hoping the rest of them would hold up positive trends.
Microsoft Corporation (NASDAQ:MSFT) gets tech earnings off in earnest on Tuesday, followed by Facebook Inc (NASDAQ:FB) Google’s Alphabet (NASDAQ:GOOGL) Inc Class C (NASDAQ:GOOG), and Apple Inc (NASDAQ:AAPL), not to mention non-tech companies. About one-third of the S&P 500 is scheduled to report this week.
It’s also a week for data and economic commentary. The Federal Reserve’s policy committee has its two-day meeting starting Tuesday and will opine on the state of things on Wednesday.
Here are three things that could affect markets tomorrow:
1. Microsoft earnings
Microsoft has been flying high on soaring sales of laptops and cloud services, and that trend is expected to continue. Wedbush analyst Dan Ives sees 45% growth from cloud offering Azure, which he says is siphoning share from Amazon (NASDAQ:AMZN) Web Services.
Analysts tracked by Investing.com expect earnings of $1.78 a share on revenue of $41 billion.
2. Tesla earnings
The electric car maker’s shares soared 740% last year but are barely up 3% this year, trailing the major indexes. And it’s not because of its quirky founder, Elon Musk (who happens to be hosting Saturday Night Live one weekend next month).
Tesla Inc (NASDAQ:TSLA) has dealt with a number of challenges recently, including a crash in Texas and a public relations battle in China. Other carmakers like General Motors (NYSE:GM) are also getting into the EV game. Analysts tracked by Investing.com expect profit of 74 cents a share on revenue of $10.4 billion.
3. How are you feeling?
Jobs are coming back, and spending is up. The economy is reopening and people are emboldened to spend their government stimulus money. Question is how long is that going to last?
Consumer confidence for April comes out at 10:00 AM ET (1400 GMT). The reading is expected to be 113, up from 109.8 the previous month.