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Robinhood, Apple, Amazon set to report earnings after the bell

In this article:
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Yahoo Finance's Jared Blikre breaks down how stocks are faring as companies report earnings and expectations for upcoming earnings from Robinhood, Apple, and Amazon.

Video Transcript

AKIKO FUJITA: Welcome back to Yahoo Finance Live. The Dow up about 115 points here, as we head into the noon hour. In terms of sector, tech leading the gains today, as investors look ahead to those big earnings after the bell, with Apple and Amazon reporting. Let's bring in Jared Blikre with a breakdown of the market action so far. Jared.

JARED BLIKRE: That's right. Well, I've been watching the VIX here. It's a little bit elevated. And let's go up to the S&P 500 as well. We have the inkling, the very slightest possibility of a bottoming formation. But don't get your hopes up, too, yet-- up too much just yet, just because we have a lot of earnings after the bell, as you said. We also have a big Fed meeting, and we haven't been talking about that quite as much.

But here's the 10-year T-note yield. Taking a look at the bond market, we can see the 10-year elevated by about four basis points here. Let's take a quick look at the US Dollar Index. That is also up to multi-year highs. Take a look at these last four candles here, five, six, actually, right in a row. That's pretty bullish on the US dollar. But we know that weighs on risk assets sometimes.

Now let's take a look at the sector action. We can see communication services, well, that houses Facebook, so not surprisingly, that's up about 2%, followed by tech, utilities, energy. All of those are outperforming. Only consumer discretionary is trading to the downside. Excuse me, it's the worst off. That's down about 1/3 of 1%.

Now we also have to take a look at the travel sector, and we can see a lot of green on the screen here. Airbnb up about 2%. And as you said, we're focusing on earnings. So I just want to show you the earnings that have come out since yesterday. That's after the bell yesterday, also this morning. And something interesting kind of showing here. All the big guys, all those are in green. Some of the little guys in red here, some of them very much in the red. Teladoc, ouch, getting sliced in half. Align Technologies down 20%. Hertz down 10%.

AKIKO FUJITA: Yeah, in terms of big tech, Jared, you get the sense that there was this big sigh of relief yesterday after Meta reported. We've got some other names on tap. We already mentioned Apple, Amazon, and then Robinhood. What do we expect from there?

JARED BLIKRE: Robinhood. Well, I'll tell you what. This comes just days after they announced that they're slicing their workforce in half. It's trading at a record low right now. I do have some numbers for you from Bloomberg. For the first quarter, the Street estimates are net revenue of $352.9 million. There's going to be a lot of focus on the crypto revenue estimate. That's $56.1 million. Monthly active users, 18.2 million.

And then the guidance, so they're looking for an increase of sales to a revenue to $415 and 1/2 million. And for the year, they're looking at $1.78 billion. But again, they're downsizing because it came to market during the craziest trading time I've probably seen in my entire career. So lots of focus on Robinhood today.

AKIKO FUJITA: OK, we'll all be watching. So we, of course, will have a breakdown of those numbers after they come out.