US Stocks Likely To Open Higher As Investors Eye GDP Print, Strong Alphabet Results To Kick Off 'Mag 7' Earnings Week: Strategist Flags November As 'Best Month Of The Year' For Markets

Investors on Wall Street seem upbeat as the index futures point to a positive start on Wednesday despite ending the previous session on a mixed note.

Search and advertising giant Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) kicked off the highly anticipated tech earnings week on a strong note. The Sundar Pichai-led company posted strong momentum across verticals, beating revenue and earnings per share (EPS) expectations.

Advanced Micro Devices Inc. (NASDAQ:AMD), on the other hand, fell 8% in premarket trading after the chipmaker's fourth-quarter guidance disappointed investors. That said, AMD beat revenue expectations in Q3.

The remaining four of the "Magnificent 7" companies will post their earnings this week, this includes Apple Inc. (NASDAQ:AAPL), Microsoft Corp. (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Amazon.com Inc. (NASDAQ:AMZN).

Futures

Performance (+/-)

Nasdaq 100

0.16%

S&P 500

0.19%

Dow Jones

0.03%

R2K

-0.16%

In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.20% to $582.95 and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.15% to $500.90, according to Benzinga Pro data.

Cues From Last Session:

Investors remained cautious, with most sectors on the S&P 500 index closing the day in the red.  However, information technology and communication services stocks bucked the overall market trend, closing the session higher.

Crude oil prices remained tentative and kept their levels after tumbling over the weekend due to Israel's missile strikes on Iran.

Treasury yields eased slightly on Tuesday after running up over the past week. However, a possible re-election of former President Donald Trump could keep the bond yields elevated due to an increased fear of higher deficits, according to WisdomTree and Wharton School economist Jeremy Siegel.

Besides, the International Monetary Fund has also warned about ...