Stock Market Earnings Season Heats Up

Earnings season has begun with banks starting to report at the end of last week and continuing into this week. 

As we look into the market events shaping this week, there is a light load of economic data. However, second quarter earnings reports are starting to heat up. A few companies will be reporting this week that are worth noting.

Streaming service sets tone for earnings

The first notable technology company to report is Netflix (NFLX). Netflix is reporting after market close on Tuesday.

The report for Netflix is significant as it can set the tone for other companies moving forward. Netflix is looking strong into earnings after rallying 15% since hitting lows last week . 

Wednesday has two notable companies to report, one before market opening and one after market closing.

Advanced Semiconductor Material Lithography (ASML) is reporting before the market opening on Wednesday. ASML reporting as the first semiconductor can set the tone for other companies such as Nvidia (NVDA), Advanced Micro Devices (AMD), and Qualcomm (QCOM). ASML is also looking strong, up 13% since lows last week.

Tesla Motors (TSLA) is also set to announce its earnings report after market close on Wednesday. TSLA is a heavily weighted stock and can significantly impact how the market reacts based on the report. Tesla is currently up 10% from lows last week.

Host of earnings reports this week

Another company worth noting is Snapchat (SNAP). Snapchat will release its report after the market closes on Thursday. The report that Snapchat releases can set the tone for other companies in the advertising industry such as Meta Platforms (Meta), Google (GOOGL), and Roku (ROKU).
Here at Simpler Trading you can find experienced traders navigating the earnings season live in our various trading rooms throughout the day. (Note: Stock reports in this article were updated at time of writing on Monday.)