Silicon Valley leads avalanche of quarterly reports

Dow 0.09pc, S&P 0.08pc, Nasdaq 0.16pc

market’s quick rebound from Britain’s unexpected June vote to leave the European Union, a minority of investors predict an increase as soon as September.

“They’re going to start setting people up for September. The economy is clearly getting better and we’re seeing less concern about international events,” said Stephen Massocca, Chief Investment Officer of Wedbush Equity Management LLC in San Francisco.

Apple hands in its results on Tuesday, while Facebook reports on Wednesday and Amazon and Alphabet report on Thursday.

US stocks were flat on Friday morning as disappointing results from industrials including GE dented investors optimism about earnings and prevented Wall Street from aiming for new highs.

GE, long considered a bellwether for the US economy, dropped 2.2 per cent to $31.85 after its report. The stock was the biggest loser on the Dow and the biggest drag on the S&P 500.

The S&P 500 and Dow are trading at record highs on upbeat sentiment over second-quarter corporate earnings, with analysts now expecting smaller profit declines and more companies topping those estimates.

Advancing issues outnumbered decliners on the NYSE by 1,298 to 1,277. On the Nasdaq, 1,215 issues fell and 986 advanced. The S&P 500 index showed 14new 52-week highs and no new low, while the Nasdaq recorded 31 new highs and six new lows.

I’m looking at the numbers coming in this week, and Facebook, Google and Amazon should all be strong. Apple is the only one I’m concerned out because of the some of the issues they’ve had with lost market share