From Nasdaq:

Meta paid a dividend and Amazon had $170 billion in quarterly sales, beating expectations. Facebook parent Meta’s profit tripled, while Amazon swung back to a full-year profit of over $30 billion. Nasdaq 100 futures were up 1% in Asia, ending a tough week. The “Magnificent Seven” stocks were outperformed by Meta and Amazon.

Amazon and Nvidia’s price-to-earnings ratios are high, but investors seem willing to bet that profit growth will justify the valuations in the long run. Bank earnings from major European institutions, including Caixabank, Deutsche Bank, Danske Bank, and UniCredit will headline the European day ahead of U.S. labor data. Traders are pushing back bets on the beginning of U.S. rate cuts this year, but will need to see signs of softness in the labor market to justify their current pricing of more than 140 basis points of cuts by year’s end.



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