US30 short-term analysis – 8 February 2023
The US30 chart is on the cusp of moving back into its bullish channel between the upper blue and red bands. A cross into this region is positive.
The US30 chart is on the cusp of moving back into its bullish channel between the upper blue and red bands. A cross into this region is positive.
After Friday’s blowout employment report, markets are now pricing a higher Fed terminal rate, which weighs on the stock market, along with recent mostly poor tech earnings and US-China tensions
Netflix and Meta Platforms provided encouraging quarterly results, but yesterday’s earnings reports by the rest of the FAANGs (Apple, Amazon, Alphabet) were troubling
The tech index builds on Wednesday’s gains as the Fed pointed to more tightening, but appeared less aggressive, while Meta Platform’s results spurred optimism
The potential for a wage spiral seems exaggerated. The employment cost index is 1.0% q/q. This is lower than the forecast of 1.1% q/q and the previous 1.2% q/q. Tomorrow, the Fed will hike by 25bps and release its statement. The lower than anticipated costs will be welcomed by the central bank.
The index slides as markets gear up for the Fed’s policy decision and earnings reports from tech heavyweights such as Meta, Apple, Amazon and Alphabet
Watch this video for insights on this week’s upcoming quarterly results from tech giants Meta Platform, Apple, Amazon and Alphabet, following a challenging 2022
Tesla’s record revenues and overall strong financial results helped Wall Street yesterday, but SPX500 is cautious today as markets brace for the PCE Inflation update
Watch today’s US Open for insights on the latest earning by EV king Tesla, recent inflation surge in Australia, the technical Death Cross in USD/JPY and more
The EV giant delivered strong financial results for Q4, touting strong demand, despite a widening production/delivery gap
Watch today’s US Open for insights on this week’s key market themes, upcoming earnings and the technical outlook of NAS100, Netflix and other assets
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