From Nasdaq Inc.:

Investors are concerned that the recent rally in stocks may be coming to an end, with the S&P 500 index logging its second-consecutive weekly loss. Technology stocks are under pressure due to interest rate fears, while inflation is putting the Federal Reserve in the spotlight ahead of its policy meeting. The Dow Jones fell 0.49%, the S&P 500 shed 0.65%, and the Nasdaq slipped 0.96%, with notable decliners including Salesforce, IBM, and Intel. Tech stocks like Amazon and Microsoft also experienced declines, with Nvidia showing resilience despite volatility. The market is waiting to see if the Fed will decide to maintain interest rates at its upcoming meeting.

Micron will report earnings after the close on Wednesday, with Wall Street expecting a loss of 26 cents per share on revenue of $5.34 billion. The stock has seen a significant rebound over the past six months due to improved prospects for memory chips, driven by generative AI and applications in the semiconductor sector. Positive guidance from Micron could further boost investor confidence in the company.

FedEx is set to report earnings after the close on Thursday, with Wall Street expecting earnings of $3.51 per share on revenue of $22.09 billion. The company has been grappling with vulnerabilities in its core operations, particularly in package volume, but has managed to offset weaknesses with improved yields and reduced expenses. Investors will be looking for updates on profitability and volume improvements across various business segments.

Nike will report earnings after the close on Thursday, with Wall Street expecting earnings of 74 cents per share on revenue of $12.28 billion. The stock has underperformed the S&P 500 index in recent months but still holds long-term potential, especially through its Direct-to-Consumer business. Analysts remain optimistic about Nike’s ability to protect earnings and balance inventory while focusing on higher-margin revenue. The company will need to deliver strong results and guidance to keep investors bullish on the stock.



Read more at Nasdaq Inc.:: Weekly Preview: Earnings to Watch This Week 3-18-24 (MU, FDX, NKE)