Earnings season is in full swing, and the spotlight turns to an array of blue-chip companies across multiple sectors. Despite the numerous upcoming earnings reports, Elon Musk's pursuit of Twitter (TWTR) could still be the top watch this week, with new twists anticipated after the company responded to his hostile takeover bid with a “poison pill” strategy. Some analysts believe that Twitter is unlikely to recapture its all-time-high of $80.75 per share from last year, and that a deal with Musk or another buyer may be the best strategy.
As jam packed as this week may be, the biggest driver of the overall market will likely be the continued pessimism of interest rates, inflation and war in Europe. So you’ll definitely want to keep an eye on Fed Chair Powell whom is due to participate in a panel discussion titled “Debate on the Global Economy” at the Spring Meetings of the IMF & World Bank Group. That takes place at 1pm EST. So don’t get blind sided with low trading volume by that potential high impact catalyst. Analysts will be sifting through company commentaries to see how all of these things are impacting the bottom line. Forward guidance could continue to be poor. Companies are going to whine and complain about cost pressures, even when they’re going to report improved results. So that may cause price action to be a little sloppier.
There’s a lot more to watch for but I can’t post images in this Reddit. But let me know what you have you’re going to be watching closely this week.
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