Dow Jones fell on Monday. What about Nasdaq and S&P 500?

Dow Jones futures declined on Monday, while the S&P 500 futures gained modestly. On the other hand, Nasdaq composite skyrocketed. It’s heading into a huge earnings week. Thus far, Tesla (TSLA), Apple (AAPL), Facebook (FB), Advanced Micro Devices (AMD), Caterpillar (CAT) and Microsoft (MSFT) are the main movers. Meanwhile, Covid-19 cases and hospitalizations are lessening quickly as virus vaccinations increase.

Due to the positive sentiment, the stock market rally hit new highs during the last week. Tech giants led the way, but several IPOs also made big moves.

Dow Jones futures lowered by 0.1% versus its fair value. The S&P 500 futures soared by 0.2%, and Nasdaq 100 futures jumped by 0.9%.

Investors are waiting for AMD and Microsoft earnings, which are due on Tuesday. Apple, Tesla, and Facebook earnings will be released on late Wednesday, while Caterpillar results will be available early on Thursday.

What are the forecasts for the major stocks’ earnings?

According to Wall Street, Microsoft earnings will likely show a 9% growth. Analysts expect Cloud revenue, including Azure cloud computing services, to drive growth. Microsoft stock surged forward by 6.25% to 225.95. The stock is clearing a downward-sloping trend line. Despite that, it’s fading below two other early entries on Friday. Currently, the official buy point stands at 232.96.

On the other hand, experts think that AMD earnings per share will show 47% growth to 47 cents with revenue jumping by 42% to $3.02 billion. Last week, AMD stock increased by 5.2% to 92.79, rebounding to a prior 88.82 buy point.

Wall Street thinks fiscal Q1 Apple earnings per share will be $1.40 on sales of $102.76 billion, higher by 12%, thanks to strong holiday sales of the new 5G iPhone and updated Mac computers. Overall, Apple stock skyrocketed by 9.4% last week to 139.07. On Friday, it also cleared a 138.89 cup-with-handle buy point.

The analysts forecast Tesla earnings are surging by 107% to 85 cents a share. The revenue will likely be higher by 35% to $10 billion. The Cybertruck and two factories are under construction, and also there is strong guidance on 2021 Tesla deliveries.

Li Auto (LI), Nio stock, and Xpeng Motors (XPEV) will also report January sales in the first week of February.

Wall Street estimates Facebook earnings per share to soar by 23% to $3.15. The revenue will likely show a 25% rise to $26.3 billion. Facebook stock rose from its 200-day line again, rallying by 9.2% to 274.50.