Bloomberg Surveillance
Bloomberg Surveillance TV: July 26, 2024
Jul 26, 2024
Sam Stovall, Chief Investment Strategist at CFRA, provides insights on the upcoming earnings for the tech sector's 'Mag 7' companies. Tobin Marcus, Head of US Politics and Policy at Wolfe Research, discusses the campaign strategies of Trump and Harris as both gear up for a crucial election season. Giorgio Furlani, CEO of AC Milan, shares the club's ambitions to expand its presence in the US, especially with their New York City match against Manchester City, highlighting the growth of soccer in America.
21:13
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Quick takeaways
- High expectations for mega-cap tech earnings have led investors to adopt a short-term focus, wary of potential disappointments.
- AC Milan's transition to a sustainable business model highlights the club's recent profitability and commitment to retaining key talents.
Deep dives
Earnings Expectations and Market Response
High expectations for the upcoming second quarter earnings from mega-cap tech companies have created concerns among investors about potential disappointments. Key companies such as Microsoft, Amazon, Meta, and Apple are set to report earnings next week, which represent a significant portion of the S&P 500's tech sector. The conversation highlights how a recent sell-off in tech stocks and their elevated price-to-earnings ratios may prompt investors to react swiftly to any signs of underperformance. As a result, investors appear to be adopting a short-term focus, indicating a tendency to sell on disappointment rather than hold for long-term potential.
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