The stock market will be heavily influenced by the earnings reports of big tech companies, biotech firms, and pharmaceutical giants this week. Amazon.com (AMZN) and Alphabet (GOOGL) lead a slate of big tech names reporting first-quarter earnings. Analysts expect Amazon to post slower growth in earnings but still report a 49% gain.
Biotech and pharmaceutical companies will also be in the spotlight, with Amgen (AMGN), Pfizer (PFE), Eli Lilly (LLY), and Neurocrine (NBIX) among those reporting Q4 earnings. Investors are closely watching for results from these companies, particularly after some missed expectations in recent quarters.
The Federal Reserve’s inflation and wage data will also be released this week, potentially impacting the central bank’s interest rate decisions. Economists expect the U.S. to add 170,000 new jobs in January, with steady unemployment at 4.1%.
Markets may experience volatility due to a heavy schedule of economic news releases, including reports on manufacturing and supply chain data. Investors should stay tuned for updates from companies such as Illumina (ILMN) and Palantir Technologies (PLTR), which are set to report Q4 earnings.
In other news, IBD’s Investing Action Plan will provide in-depth analysis and briefs on the latest stock market trends and news.
Source: https://www.investors.com/research/investing-action-plan/investing-action-plan-a-big-week-for-biotechs-pharma-and-econ-plus-amazon-and-alphabet