February 2, 2022, 4:42 pm EST
Earnings Pop and Down
This earning season presents pop and down for many heavyweight companies. For example, Google or Alphabet Inc (GOOGL) was up +7.5% because of the strong earning results reported yesterday. But, Facebook or Meta Platforms Inc (FB) plummeted more than -20% in the after-hours trading after the report. Similarly, Apple (AAPL) was up but Netflix (NFLX) was down. The punishment for the disappointed earning report could be fatal like Paypal Inc (PYPL) -25% today.
Tomorrow, there will be another mega-company, Amazon (AMZN) where its earnings will be reported. We should pay attention to it as it will drive market direction as well.
ADP’s private job report announced a negative 301K job loss in January. Friday non-farm payroll plays an important role in the market direction as well that we will see soon.
Meantime, DJIA is back to its bullish bias. S&P 500 and Nasdaq are near neutral after the drop and rebound. Here we can see how AMZN earning and job report Friday could drag the market direction for February.
