Tech Earnings And Economic Data Bring Mixed Signals For Market Direction
Google reported strong earnings after market close on Tuesday, with advertising revenues coming in stronger than expected and cloud revenues increasing by 35%. This could be a positive sign for other companies in the sector, such as Microsoft. Other companies that reported higher earnings include Reddit, Humana, and Visa, while Advanced Micro Devices, Eli Lilly, and Caterpillar reported lower earnings. Economic data showed mixed signals, with third quarter GDP coming in at 2.8% and Consumer Confidence showing a strong uptick, but JOLTs data indicating fewer job openings than forecast.
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