摘要:Tech Giant's Earnings Impact Stocks as GDP Growth Surges Beyond Expectations
Market Wrap: Stocks, Bonds, Commodities
On Thursday, U.S. stocks were down heavily for a second session. The S&P 500 fell 49 points (-1.18%) to 4,137, the Nasdaq 100 slid 272 points (-1.89%) to 14,109, and the Dow Jones Industrial Average was down 251 points (-0.76%) to 32,784.
U.S. data showed that gross domestic product (GDP) grew at an annualized rate of 4.9% on quarter in the third-quarter (vs +4.0% expected), the strongest growth in nearly two years.
Durable goods orders jumped 4.7% on month in September (vs +1.1% expected), and the latest number of initial jobless claims increased to 210,000 (vs 200,000 expected).
Meanwhile, the U.S. 10-year Treasury yield retreated 11.3 basis points to 4.842%.
Real Estate (+2.26%), banks (+1.31%), and telecoms services (+1.15%) stock sectors ended higher, while media (-3.02%), automobiles (-2.79%), and technology hardware & equipment (-2.31%) sectors lost the most.
Meta Platforms (META) fell 3.73%. Although the tech giant's third-quarter results beat expectations, the company said fourth-quarter sales could be dampened by the Middle-East conflict.
United Parcel Service (UPS) dropped 5.93%. The package delivery company cut its full-year sales forecast.
And Whirlpool (WHR) plunged 15.83% after lowering its full-year earnings guidance.
Also, after reporting quarterly earnings, Comcast (CMCSA) sank 8.42%, Altria (MO) lost 8.31%, Mattel (MAT) declined 7.61%, and Bristol-Myers Squibb (BMY) was down 6.43%.
On the other hand, International Business Machines (IBM) rose 4.87% after posting better-than-expected third-quarter sales and earnings.
Morgan Stanley (MS) added 0.94%. The investment bank announced the appointment of Ted Pick as its new chief executive officer.
In after-market hours, Amazon.com (AMZN) jumped 5%. The tech giant's third-quarter revenue and earnings well exceeded analysts' estimates, thanks to higher retail sales and significant cost cutting.
Also, after posting quarterly results in after-market hours, Intel (INTC) surged over 7%, Chipotle Mexican Grill (CMG) rose 3%, while Ford Motor (F) lost over 3%.
European stocks also closed lower. The DAX 40 fell 1.08%, the CAC 40 dropped 0.38%, and the FTSE 100 was down 0.81%.
U.S. WTI crude futures slipped $1.80 to $83.61 a barrel.
Gold price gained $5 to $1,984 an ounce.
Market Wrap: Forex
- The U.S. dollar index was relatively stable at 106.63.
- EUR/USD dipped 6 pips to 1.0560. As expected, the European Central Bank maintained its key interest rate unchanged at 4.50% following an unprecedented streak of 10 consecutive rate hikes.
- USD/JPY showed continued upward momentum climbing 18 pips to 150.41. Japan's data showed that Tokyo's core inflation rate ticked up to 2.7% on year in October (vs 2.4% expected).
- GBP/USD increased 15pips to 1.2127.
- AUD/USD increased 15pips to 0.6324. Australia's data showed that producer prices increased 3.8% on year in the third quarter (vs +2.0% expected).
- USD/CHF added 24 pips to 0.8992.
- USD/CAD gained 31 pips to 1.3828. In Canada, the CFIB Business Barometer fell to 47.2 in October (vs 48.0 expected).
- Bitcoin traded lower to $34,190.
Dow Jones (CME) (Z3) Intraday: the downside prevails.
Pivot:
33080.00
Our preference:
Short positions below 33080.00 with targets at 32840.00 & 32730.00 in extension.
Alternative scenario:
Above 33080.00 look for further upside with 33200.00 & 33360.00 as targets.
Comment:
The RSI is below its neutrality area at 50%
EUR/USD Intraday: bullish bias above 1.0540.
Pivot:
1.0540
Our preference:
Long positions above 1.0540 with targets at 1.0580 & 1.0600 in extension.
Alternative scenario:
Below 1.0540 look for further downside with 1.0525 & 1.0510 as targets.
Comment:
A support base at 1.0540 has formed and has allowed for a temporary stabilisation.
GBP/USD Intraday: continuation of the rebound.
Pivot:
1.2100
Our preference:
Long positions above 1.2100 with targets at 1.2155 & 1.2175 in extension.
Alternative scenario:
Below 1.2100 look for further downside with 1.2075 & 1.2050 as targets.
Comment:
RSI advocates for further upside.
USD/JPY Intraday: consolidation.
Pivot:
150.55
Our preference:
Short positions below 150.55 with targets at 150.10 & 149.90 in extension.
Alternative scenario:
Above 150.55 look for further upside with 150.75 & 150.90 as targets.
Comment:
The RSI is mixed with a bearish bias.
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