Here are the top news, trends, and analysis that investors need to get their trading day started:
1. Futures will remain unchanged if profits come before the Fed’s decision
Traders on the floor of the New York Stock Exchange.
2. Alphabet profits will be increased by $ 4.75 billion through investments
Sundar Pichai, CEO of Google
Eric Piermont | AFP | Getty Images
Alphabet shares rose 5% in the pre-market after the company posted its most profitable quarter of all time late Tuesday, in part due to a booming IPO market and rising valuations for tech startups. In addition to its dominant position in search and a growing cloud business, Alphabet has become a force in venture capital. The company announced net income from equity investments of $ 4.75 billion – 22% of Alphabet’s pre-tax income. Adjusted earnings per share in the first quarter significantly exceeded estimates, as did sales. If Google’s YouTube continues to grow in recent quarters, it could also match Netflix’s year-end sales.
3. Microsoft has the largest revenue growth since 2018
Microsoft CEO Satya Nadella will give a lecture on Dream, Struggle and Creation at Tsinghua University on September 25, 2014 in Beijing, China. Nadella was in China for the first time on Thursday.
Visual China Group | Getty Images
Microsoft shares – an increase of more than 10% per month – took a breather on the pre-market. The stock was down 2.5% despite the company posting better-than-expected adjusted earnings per share and sales in the third quarter of fiscal. The software, hardware, and cloud giant posted the largest year-over-year revenue growth since 2018 at 19%, partly due to strong sales of PCs due to coronavirus shortages. The company’s Azure public cloud, which competes with market leader Amazon Web Services, grew by 50%. This is a faster clip than analysts expected. This was found in a CNBC review of 14 stock research notes. Microsoft also said that its LinkedIn Marketing Solutions had sales of more than $ 3 billion in the past 12 months.
4. Bid to reach Congress and get more spending
U.S. President Joe Biden speaks about his $ 2 trillion infrastructure plan during an event at Carpenters Pittsburgh Training Center in Pittsburgh, Pennsylvania on March 31, 2021.
Jonathan Ernst | Reuters
President Joe Biden, who will address a joint Congressional session Wednesday night, will propose $ 1.8 trillion in new expenses and tax credits to Congress for children, students and families, senior administrators said. The massive new package comes less than a month after the White House released a sweeping proposal to spend more than $ 2 trillion on infrastructure and other projects over an eight-year period. On the eve of his 100th day in office, Biden will also tell lawmakers about his administration’s broader vision for the US and its legislative priorities.
5. Tesla is now sitting on $ 2.5 billion worth of Bitcoin
Tesla, led by Elon Musk, confirmed it bought around $ 1.5 billion worth of bitcoin in January and expects it to be accepted as payment in the future.
Artur Widak | NurPhoto | Getty Images
According to a securities filing, Tesla is sitting on Bitcoin worth around $ 2.5 billion, which will give the electric car maker a significant profit on paper in just a few months. Tesla said its investment in the world’s largest cryptocurrency was valued at $ 2.48 billion at the end of March. The company announced earlier this year that it had purchased $ 1.5 billion worth of Bitcoin and planned to accept it as payment for vehicles. Tesla announced Monday that the company posted $ 101 million in net income for the quarter from the sale of Bitcoin, which helped push net income to a record high in the first quarter.
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