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Stocks moving higher ahead of this week's Big Tech earnings

Equity markets (^DJI, ^IXIC, ^GSPC) are all moving higher Monday morning as several Big Tech companies are set to report earnings later this week.

Yahoo Finance Co-Hosts Seana Smith and Madison Mills preview the Magnificent Seven tech stocks on deck to post first-quarter earnings results, while also eyeing the latest EV price war playing out in China between Tesla (TSLA) and Li Auto (Li).

For more expert insight and the latest market action, click here to watch this full episode.

This post was written by Luke Carberry Mogan.

Video Transcript

[MUSIC PLAYING]

SEANA SMITH: Welcome back to Yahoo Finance. I'm Seana Smith, alongside Madison Mills. We're 30 minutes into the trading day. Let's get right into today's top stories. First up, stocks are rebounding after the tech selloff as investors are set to digest a tidal wave of earnings this week. 178 of the S&P 500 companies are reporting, and that includes leaders in big tech, autos, consumer staples, energy, and travel.

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MADISON MILLS: And, Seana, a lot of attention will be on those big tech earnings. Of course, we've got Tesla, Meta, Microsoft, and Alphabet all reporting their latest quarterly results this week. It's expected to be a crucial test for markets, particularly following that selloff we just saw. Investors are going to be watching to see if the Mag Seven can reignite an AI-fueled market rally.

SEANA SMITH: And Tesla is wrapped up in the latest EV pricing war that's playing out in China. The automaker cut prices on its Model 3 in China by nearly $2,000 as its competitors in the world's second largest economy also slashed prices. Li Auto trimmed its prices on several of its vehicles. And the shares of both of those companies are trading in the red here this morning. We're going to dive deeper into that story later this hour.