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US After the Close: Alphabet crushes, Apple and Microsoft strong beats but shares drift lower, little rally from API draw, Gold anchored at $1800 - MarketPulse


US After the Close: Alphabet crushes, Apple and Microsoft strong beats but shares drift lower, little rally from API draw, Gold anchored at $1800
Posted 8 hours agoSharePrint
Investors turned cautious as Wall Street digests peak earnings, growth worries worsen on new guidance from the CDC, and uncertainty over how far China’s regulatory crackdown will span.  After the close, massive earnings from Apple, Amazon, and Microsoft did little to right the ship.
Big Tech Earnings
Apple’s earnings impressed, but a lot of that strong performance was already priced in.  The iPhone super cycle is here as strong progress was shown in switching Android customers over and growth in China.  Apple showed they are able to diversify revenue streams with strong beats with Service , Mac, iPad, services, and wearables revenue. ....

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Dollar stabilizes near recent peaks as traders await Fed


Article content
The Fed meeting is on Wednesday and the focus is on discussions around bond purchases and insight into the bank’s comfort with surging inflation, with the upshot for currency markets not clear cut.
Commonwealth Bank of Australia strategist Joe Capurso said a hint that tapering could soon begin would lift the dollar.
Steve Englander, head of G10 FX research at Standard Chartered, however, said that a steer on the Fed’s thinking about a sharp but likely transitory jump in inflation will be just as important.
“We expect that Fed Chair (Jerome) Powell will convey more patience than many recent Fed speakers about bringing inflation lower, as long as domestic economic conditions still point to labor market slack,” said Englander in a note to clients. ....

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