The markets were higher today as earnings continues to fuel this rally. The Dow 30 was higher by 71, the S&P 500 added 3, and the Nasdaq 100 lost 7. Earnings will be the continued focus as some big tech names are due to report after the close. Tomorrow investors will also get a look at GDP numbers which can be a market moving announcement.
Twitter (NASDAQ: TWTR) was the talk of the street today as shares popped almost 20%. The social media platform announced third quarter results this morning which showed adjusted earnings of 10 cents a share on revenue of $590 million. Total monthly active users rose to 330 million, all of which impressed investors. These results show that Twitter is nearing a profit which many thought was not possible. Shares are now positive on the year by 24% thanks in large par to today's move.
Amazon (NASDAQ: AMZN) will be one of the big focuses this afternoon as the company is set to release third-quarter earnings after the close. Spending will be a major focus as Amazon has a history of spending in the third quarter. Cost cutting to compete with rivals will be a major focus as well. Investors will want to see if this is eating into revenue at all or if customers continue to flock. As always, with retailers this time of year investors focus in on how companies feel about the upcoming holiday season. Positive comments could support higher prices.
Alphabet (NASDAQ: GOOGL) is another big name due to report earnings after the close and analysts expect a profit of $8.34 and sales of $21.95 billion. JPMorgan is on record stating that they expect above average results from the tech giant due to strength in mobile search and YouTube. Ad revenue is also a big factor and many are expecting to see $49.72 billion in mobile internet ad revenue in 2017 which would move the company to a market share of 35%. Shares were flat today ahead of the announcement.