John Authers, Columnist

Blinded by the Light of Big Tech Earnings

With stocks on a tear, the bet is that US banks are not going to bring down the economy. The latest Magnificent Seven results strengthen that view.

February 2, 2024 at 5:00 AM UTC

By John Authers

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Big Tech cohorts like Amazon continue to deliver for investors.
Photographer: David Paul Morris/Bloomberg

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Sometimes there’s no room for financial ambiguity. That seems to be true of the latest wave of results from Big Tech, with the first-quarter earnings of both Meta Platforms Inc. and Amazon.com Inc. received rapturously after Thursday’s market close. It’s not true of the broader fate of the global economy, where the latest data leaves much to interpretation.