Stock Market

Watch today’s US Open for insights on the ECB hold and its impact on EUR/USD, Tesla’s underwhelming results and more

The EV leader recorded its smallest revenue increase in years and warned of slower vehicle volume growth in 2024, but Mr Musk sounded optimistic around the future and touted a next gen model

Netflix (NFLX.us) posted better-than-expected revenue for Q4. The company also added 13.1 million net new subscribers in the quarter, which is a substantial beat over the 8.7 million net subscribers the company had forecast. This makes it the best-ever fourth quarter for new subscribers. Promising was that the growth was for all regions, and the company now has 260.3 million subscribers globally.

Watch today’s US Open for insights on BoJ inaction and the impact on USD/JPY, the upcoming ECB decision, the highly anticipated earnings from Netflix and tesla and more

Chinese authorities are considering a rescue package to stabilise its ailing stock market. This is not a surprising given how poorly FXCM’s CHN50 basket has performed. On a longer-term monthly scale, CHN50 is sitting in a bearish channel between its lower blue and red bands. Moreover, the momentum-based RSI is languishing below 50, denoting an underlying bearish momentum.

The tech-heavy index reaches new records despite moderation in the Fed rate cuts bets, with key data and earnings by Netflix and Tesla coming up

Apple has been banned from selling current versions of its Apple Watch in the US as a federal appeals court decides on the patent dispute regarding a sensor. This suggests that the company may pull the watches from stores for the second time in less than a month.

FXCM’s US.BANKS basket has risen strongly since its low in mid-October last year. However, the strong appreciation resulted in an overbought condition to start 2024 (red vertical). As a result, it not a surprise to see the basket pulling back over the last week and a half as the oscillator normalises.

Microsoft (MSFT.us) is expanding the scope of its Copilot artificial intelligence software. In particular, the company will focus on consumers and small businesses.

On Friday, Microsoft (MSFT.us) passed Apple (AAPL.us) as the world’s most valuable company. Microsoft’s value is $2.89 trillion, whilst Apple’s is $2.78 trillion. Over the last 12 months, Microsoft has rallied almost 63% against Apples 40%. This has effectively ended Apple’s more than 500 days as the highest valued company in the world, with Microsoft last holding the spot in November 2021.

Netflix (NFLX.us) has surpassed 23 million global active users on its ad-based plan. This is a sharp increase from November when the company said it had 15 million active users on its less expensive plan. More information will be available on 23 January when the company releases its Q4 earnings.