22 August 2019

Facebook, Amazon and Alphabet take center stage on Wall Street

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The so-called FANG stocks take center stage on Wall Street this week, with Amazon (AMZN.O), Alphabet (GOOGL.O) and Facebook (FB.O) set to report as the S&P 500 approaches a record high. reports citing Reuters.

The group of high-growth stocks that supercharged the S&P 500’s decade-long rally in recent years has had mixed results in 2019, with Facebook and Amazon dramatically outperforming the broader market, while Netflix (NFLX.O) and Google-owner Alphabet have lagged.

Facebook reports on Wednesday after the bell, with Amazon and Alphabet on Thursday, all together accounting for 9% of the S&P 500’s stock market value. Overall, companies reporting this week account for about 30% of the S&P 500’s value.

Investors’ reactions to those reports could affect broader market sentiment as the S&P 500 trades about 1% below its July 12 record high close, with investors widely expecting the Fed to cut interest rates later this month. The benchmark index was up 0.3% on Monday.

2019.07.22 / 23:56
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