- Final US presidential debate
- US Weekly Jobless Claims fall below 800K
- Coca-Cola (KO.US) quarterly profit beats expectations
US indices launched today's session flat as investors remain concerned about the lack of progress regarding the new stimulus bill negotiations. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin were unable to reach a deal on Wednesday and talks will continue today, which makes it unlikely that the package will be approved before the presidential election. Today markets attention will focus on the final debate between Donald Trump and Joe Biden, amid news that Iranian and Russian operatives had hacked the rolls of registered electors and were using the information to influence the election. On the corporate front, Coca-Cola posted upbeat quarterly results while those from AT&T came in line with expectations. Tesla reported fifth consecutive quarterly profit. Intel will report is quarterly figures today after the market close. On the data front, weekly jobless claims fell to 787,000 for the week ending Oct. 17. That marks the first time since March that claims come in below 800,000.
US30 bounced off the 50 SMA (green line) and managed to erase some of the recent losses. Currently index is testing local support at 28,090 pts. Should we see a another break lower, then downward move may accelerate towards next support at 27,408 pts. However in case buyers manage to defend the aforementioned support at 28090 pts, then another upward impulse towards 28,800 pts could be launched. Source: xStation5
Coca-Cola (KO.US) reported quarterly earnings of 55 cents per share while analysts’ expected earnings of 46 cents a share. Revenue also beat estimates thanks to the partial reopening of cinemas and restaurants. Company reported organic sales decline of 6% which is considered as an improvement compare to last quarter’s drop of 26%.
Coca-Cola (KO.US) – stock recently bounced off the lower limit of the triangle formation, that also coincides with 50 SMA (green line) and 200 SMA (red line). Stock launched today's session with a bullish price gap and price is approaching upper limit of the formation. Should upbeat moods prevail, resistance at $52.30 may come into play. However if sellers will manage to regain control, then support at $48.75 may be at risk. Source: xStation5
Dow Inc. (DOW.US) stock gained 1.5% in premarket trading after company posted quarterly earnings of 50 cents per share, compared to a consensus estimate of 33 cents a share. Revenue also topped forecasts. The chemical maker recorded higher demand for chemicals used in consumer durable goods and construction materials.
Southwest Airlines (LUV.US) reported a quarterly loss of $1.99 per share, lower compared to market forecasts of $2.35 a share. Revenue came in slightly above expectations. Company announced that thanks to higher booking numbers it will burn less cash over the next few months.
AT&T (T.US) - stock rose 2% in premarket trading after company posted is quarterly results. AT&T earned 76 cents per share which came in line with market estimates, while revenue beat forecasts. The company said the pandemic impacted revenue across all its businesses, but noticed strong wireless growth and subscriber numbers for HBO and HBO Max that exceeded its own projections.
American Airlines (AAL.US) stock dropped 2% in premarket trading after the company reported quarterly loss of $5.54 per share, while analysts' expected loss of $5.86 per share. Revenue came in above market expectations. The company hopes to reduce its cash burn rate to approximately $25 million to $30 million per day in the fourth quarter, from current $44 million.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
