economy
Jay Woods thinks worst may be over for software names if Microsoft gets above a key level this week
Jay Woods reviews key companies reporting earnings this week and touches on the most important takeaway from the upcoming FOMC meeting.
TL;DR
- Microsoft's earnings report is a key focus this week, with its stock trading between its 50-day and 200-day moving averages.
- A successful Microsoft report could indicate a turnaround for volatile software stocks, with the sector ETF down over 19% year-to-date but up 11% in the past month.
- Jay Woods also provides trading levels for Meta and Visa earnings.
- The Federal Reserve meeting is anticipated to result in a 'hawkish pause' before a leadership transition.
- The Middle East conflict continues to be a concern due to its impact on sustained higher oil prices.