US quarterly earnings to feature big growth in tech-related companies

The Producer Price Index in March rose 0.2% from the previous month, a lower rate of growth than economists had forecastFILE PHOTO: A trader works on the trading floor at the New York Stock Exchange in New York CityNEW YORK - Big technology-related company earnings are expected to again lead S&P 500 profit growth in the upcoming U.S. reporting period, which could refuel optimism for stocks after a weak start to April.

Earnings for the communication services sector, which includes such names as Alphabet, are forecast to have risen 26.7% from a year ago. The technology sector , which includes Nvidia, Apple and Microsoft, is expected to have climbed 20.9% in the first quarter, according to LSEG data. "We see a healthy capex cycle ahead from both AI and other mega projects... benefiting not just semis, but also power and commodities," BofA Securities strategists wrote in a research note Thursday.

But, during earnings season, he said, "we're gong to start hearing more and more about consumer debt and carrying costs of debts. Spending growth is outpacing wage growth, and that's not sustainable." "Operating leverage should drive margins further as demand recovers," BofA Securities strategists noted.Get Rich Quick Former president Donald Trump's "Truth Social" bid is continuing its decline. Shares of Trump Media & Technology Group , which owns the far-right social media platform, have slid almost 30 percent over the last five days, wiping out even more of Trump's personal stake.

Source: News Formal (newsformal.com)

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