Markets Rally Ahead of Apple Earnings
Global equity markets showed positive momentum on Tuesday as investors positioned ahead of Apple's highly anticipated earnings report. The tech giant's results are seen as a bellwether for the broader technology sector and consumer spending trends. Meanwhile, oil prices extended losses, pressured by weaker-than-expected demand data and a stronger U.S. dollar.
Tech Sector in Focus
Apple's earnings report due later this week is expected to show modest growth, but analysts are closely watching iPhone demand in China and the company's AI infrastructure spending. Any surprise guidance could trigger significant moves in Nasdaq futures and tech-heavy ETFs.
Energy Sector Weakness
Crude oil prices dropped over 1% after the American Petroleum Institute reported a larger-than-expected build in gasoline inventories. With OPEC+ gradually increasing output and global growth concerns lingering, the energy sector continues to face headwinds. The rally in the DXY index also made dollar-denominated commodities less attractive for overseas buyers.
Key Takeaways
- S&P 500 and Nasdaq futures edged higher, but volatility likely to persist until Apple's official release.
- Oil (WTI) fell below $78 per barrel, marking a three-week low.
- Eyes on U.S. CPI data due Thursday; a hot reading could delay rate cut expectations.
- Tech investors should prepare for sector rotation if guidance misses estimates.
Freely curated and adapted from Google News Top Stories coverage
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