As companies in the S&P 500 (^GSPC) — especially Big Tech leaders — begin to report first-quarter earnings, it’s evident companies’ prospective stocks are reacting negatively to overly positive earnings news. Evercore ISI Senior Managing Director Equity of Derivatives and Quantitative Strategy Julian Emanuel joins Market Domination to discuss how stocks are responding to quarterly results, as well as touch on the trajectory of the S&P 500 as the likelihood of interest rate cuts in 2024 by the Federal Reserve starts to dissipate.
"The bigger message is that the companies that have done well in some cases have seen their shares perform poorly… case in point, it’s the double beats, the ones beating on EPS and revenues," Emanuel tells Yahoo Finance. "And the share price reaction that is… less than stellar, and some cases outright poor, that’s what really tells us that the broader market is having digestion problems in and around this earnings season."
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