Stock Market News

Technical Analysis – Tesla stock undecided ahead of earnings

Posted on July 22, 2024 at 2:52 pm GMT

Tesla shares jump to highest level since September 2023 But the latest high was followed by back-and forth-sessions Momentum indicators deteriorate but remain in positive areas Tesla’s shares experienced a massive surge in late June, gaining more than 40% and storming to a fresh 10-month peak of 268.00 on July 7. However, the stock has been trading without a clear direction since then, with investors probably awaiting tomorrow’s Q2 earnings release for fresh guidance. Should the stock move to the downside, the [..]

Technical Analysis – US 500 index meets support at short-term uptrend line

Posted on July 22, 2024 at 9:10 am GMT

US 500 index capped by 20-day SMA Near-term rising line still holds Stochastics and RSI suggest upside moves The US 500 (cash) index rebounded off the short-term uptrend line around the 5,520 support level after falling from a record high of 5,673.39. The technical oscillators suggest a possible market upside retracement. The stochastic oscillator is pointing upwards after the dive towards the 20 level, while the RSI is heading up following the plunge beneath the uptrend line, which had been [..]

Alphabet reports Q2 earnings amid tech selloff – Stock Markets

Posted on July 19, 2024 at 1:23 pm GMT

Alphabet reports earnings after market close on July 23 Forecasts point to double-digit revenue and earnings growth Valuation is cheap against tech giants due to lack of AI exposure Stock shines in 2024 Alphabet, Google’s parent company, has been having a very strong year amid an overall tech outperformance. Despite experiencing a significant spike to the downside in February after the problematic launch of its Artificial Intelligence (AI) image generation feature, Alphabet’s stock has managed to largely outperform major US indices. [..]

Microsoft earnings eyed as AI race gathers speed – Stock Markets

Posted on July 18, 2024 at 8:09 am GMT

Microsoft to announce its Q4 earnings on July 30 after the market close Has the AI boom run its course or is this revenue surge sustainable? Cloud growth and AI spending will be under scrutiny amid high valuation Monetizing AI Microsoft Corp continues to ride high on the artificial intelligence (AI) wave, having been among the first to bet big on the AI revolution. The Company’s investment in ChatGPT maker OpenAI, thought to be in the region of $13 billion, [..]

Tesla Q2 earnings: Poor results despite upbeat deliveries – Stock Markets

Posted on July 17, 2024 at 2:30 pm GMT

Tesla reports earnings on July 23 after market close Weak numbers expected despite stronger Q2 deliveries Valuation goes through the roof after latest stock rally Stock recovers after devastating start to the year Tesla was among the ten worst performing stocks of the S&P 500 just a few weeks ago, with its shares being down around 40% since the beginning of the year, while trading at their lowest level since early 2023. However, the stock managed to erase its year-to-date slide and even [..]

A repeat of the 2006-07 price action could spell trouble for the S&P 500 – Special Report

Posted on July 17, 2024 at 1:42 pm GMT

Performance of key market assets resembles the 2006-07 period The S&P 500 index could experience a sizable correction The current US 10-year yield drop could have legs Yen could benefit further as euro/dollar volatility is possibly heading north Fed readies for a September rate cut Almost one year after the last Fed rate hike, the latest developments in the US, predominantly the recent labour market report and last week’s weaker inflation prints, have probably tipped the scale in favour of [..]

Technical Analysis – US 500 index softly up after upbeat retail sales

Posted on July 16, 2024 at 3:36 pm GMT

US 500 stock index maintains muted positive tone Short-term bias on the bullish side; eyes on 5,680 Unlike the US 30 index, the US 500 index could not renew its record rally on Tuesday, retaining a muted positive tone around 5,650. The bulls, however, might still have their chance, especially after the close above the one-year-old resistance line at 5,600. If that floor holds, the price might attempt to push above the short-term ascending line at 5,683 and towards [..]

Can Netflix’s Q2 earnings propel the stock to an all-time high? – Stock Markets

Posted on July 16, 2024 at 1:55 pm GMT

Netflix reports financials on Thursday after market close Forecasts point to double-digit revenue and earnings growth Valuation below 5-year average but at a premium versus benchmarks Strong start to the year Netflix kicks off the earnings parade for big tech stocks as the streaming giant is the first among the Magnificent 7 pack to unveil its second quarter financial results. Netflix’s stock has had a spectacular year, outpacing its streaming rivals and lagging only behind Nvidia and Meta within the [..]

Higher market volatility led by yen, gold and equities – Volatility Watch

Posted on July 16, 2024 at 6:58 am GMT

Euro/dollar volatility remains low despite weekend’s events Volatility in commodities jumps, apart from oil Stock indices experience stronger volatility, decoupling from Bitcoin Euro/dollar volatility remains very low despite last week’s weaker CPI report and the weekend’s gun attack on the Republican Presidential candidate. On the flip side, volatility in yen crosses has increased considerably as the BoJ is rumoured to have intervened last week in dollar/yen, ahead of the end-July BoJ gathering. In the meantime, volatility in gold has jumped to the highest level of the [..]

Technical Analysis – US 30 cash index bullish momentum rests on the CPI report

Posted on July 11, 2024 at 6:53 am GMT

US 30 index in the green again following a few mixed sessions It remains a tad below its recent all-time high Momentum indicators support the current uptrend The US 30 cash index is in the green again today, following some mixed sessions. The bulls are probably feeling confident again as the index is 4.5% higher from its May 30 trough, and a tad below its May 20 high of 40,094. The increased chances of an early Fed rate cut have [..]

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