Page 14 of 68
The SPX500 weekly chart has moved into overbought territory with its RSI above 80 (green rectangle). This comes as the index nears the 5,000 level. Round numbers often prove to be psychological resistance areas, and this may be the case given the index’s frothy indications. I.e. a pullback over the coming weeks is a distinct possibility.
Losses on Ford’s EV segment more than doubled last year and the company strengthens its focus on hybrids
Palantir (PLTR.us), the maker of defensive software, surged close to 31% yesterday after the company beat Q4 earnings expectations, with the stock closing at $21.87. This is the company’s largest one day percentage gain on record. In the past the market had concerns about future deals with the government, but this has been overlooked with the market positively receiving the company’s success in its commercial deals for its analytics software.
The three media giants announced an agreement to combine their sports offerings into a new streaming service, in a move that could shape the streaming market, as sports programming is becoming increasingly important
Watch today’s US Open for insights on the EUR/USD fall from the reserved Fed and the strong NFPs, Meta’s blockbuster results, renewed regional banking fears and more
The US lender announced a 71% reduction in dividend and a rare net loss in Q4 due to higher provision for credit losses, reigniting fears around regional banks nearly a year after the Silicon Valley Bank failure
Intel Stock gapped down on 26 January following the chip makers outlook for Q1 2024, which lagged analysts’ forecasts. However, it is notable that the company’s stock price nearly doubled in 2023, surging by 91%.
The social media giant delivered another blowout quarter on the back of higher ad sales, its main revenue generator, which is also helped by the AI push
Microsoft (MSFT.us) delivered $2.93 EPS on a revenue of $62.02 billion for the quarter ended 31 December 2023. This is ahead of Wall Street estimates of $2.77 EPS and $61.1 billion. In effect, the company’s earnings increased 33% on a year-over year basis and sales increased by 18%.
The index is cautious around record highs, awaiting the Fed’s policy decision and quarterly results from tech giants like Microsoft, Meta and Apple
The French index rises after Ms Lagarde stood by recent comments for summer rate cuts, while luxury giant LVMH posted strong 2023 results
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.