| US stocks were lower after Friday’s unexpectedly strong jobs report boosted the prospect for further rate increases from the Federal Reserve, and quelled expectations that the central bank would pause or even move to cuts this year.
While the labour market remains strong, the US tech megacaps delivered disappointing results last week, with Apple, Alphabet and Amazon all providing weaker guidance, and Dell joining the list of companies cutting their workforce. Walt Disney reports on Thursday AEDT. Bob Iger’s return as CEO and the proxy battle with activist investor Nelson Peltz have set the stage for what could be an action-packed earnings day.
Softer consumer demand and ad spending flagged by these companies may portend tepid results for game developers and Walt Disney reporting this week, and while individual companies could emerge as winners with effective cost-cutting measures and pricing adjustments, shares of Tyson Foods slump, as falling meat prices squeezed first quarter earnings. is due after market.
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