Earnings SZN Mayhem

An absolute tumultuous week in the markets was expected during earnings szn. S&P posted solid gains throughout the week, suffering steep losses during Thursday’s trading session (Meta and PayPal of the many culprits). Amazon reported $137.4 Billion in quarterly revenue, and nearly doubled Q4 profits, generating $14.3 Billion. This was of course not due solely because of Amazon’s pristine business model, but rather “…a pre-tax valuation gain of
$11.8 billion included in non-operating income from our common stock investment in Rivian Automotive, Inc., which
completed an initial public offering in November.” Amazon stock rose nearly 15% after their earnings report, gaining nearly all of the losses its endured so far this year. Great job team.

Regardless of that tidbit of information, Apple, Alphabet, and Amazon are bolstering the market and keeping us from going absolutely nuclear (bad kind). It’s also important to note that Snapchat also came out of the woodworks and surprised with a first ever quarterly gain, and also raised its outlook (don’t ask me how that’s even possible but in this economy i suppose anything is). Snapchat went after-hours, rising 41% after earnings release.

With a mixed bag of earnings, we’re curious to see where major indexes land tomorrow. Amazon can keep the liquidity hype train running. In Bezos we trust.