Investing.com — Tech giants Microsoft and Alphabet (NASDAQ:GOOGL) lead the earnings slate later in the session Tuesday, while Bitcoin soared in anticipation of the approval of an ETF in the U.S… European PMI data pointed to a region heading towards recession, offering the potential for downside surprises in the U.S. equivalent.
The week’s deluge of major tech earnings starts later Tuesday, with results due from both Microsoft and Google-parent Alphabet after the closing bell.
Microsoft (NASDAQ:MSFT) is expected to report earnings per share of $2.65 on revenue of $54.5 billion, and investors will be looking more for updates since it closed its deal for Activision Blizzard (NASDAQ:ATVI).
There will also be a big focus on whether the software giant’s big bet on artificial intelligence is paying off at its cloud-computing unit.
Microsoft announced on Monday that it will spend A$5 billion ($3.2 billion) expanding its artificial intelligence and cloud computing abilities in Australia over two years.
Alphabet (NASDAQ:GOOG) is expected to offer up earnings of $1.45 a share on revenue of $75.9 billion, with investors looking for fresh evidence on the current state of the digital advertising environment.
Alphabet is likely to benefit from its strong cloud division, adding substantial revenue growth, while expanding data centers will continue to bolster its presence in the cloud space.
U.S. stock futures edged higher Tuesday, with investors focusing on earnings reports from a number of the very influential tech companies.
At 04:40 ET (08:40 GMT), the Dow futures contract climbed 30 points or 0.1%, S&P 500 futures rose by 8 points or 0.2% and Nasdaq 100 futures climbed by 55 points or 0.4%.
The major indices traded in a mixed
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