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US markets open slightly lower on Friday
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NFP figures for August below forecasts
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Hewlett Packard jumped after solid earnings
US equity markets opened slightly lower on Friday after long-awaited NFP report for August showed a huge miss. The headline number came in at just 235k against expected 750k. Nevertheless, US stocks seem more resilient than their European peers as DE30 tanked by more than 100 points. US services PMI for August was revised to the downside, from 55.2 to 55.1 (previously: 59.9). Interestingly, there have been some reports that Democrats are discussing taxes on stock buybacks and excess CEO pay.
US100 fell below the 100-hour EMA for a brief moment after today’s NFP miss. Also, the index tested the lower limit of the 1:1 structure near 15,550 pts - this area remains key support to watch in the near-term. It is worth to notice that the mentioned moving average served as a support in recent days. Bulls are currently trying to regain ground. Source: xStation5
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Hewlett Packard Enterprise (HPE.US) jumped after positive earnings surprise and bullish remarks of the CEO. The firm reported fiscal 3Q adjusted earnings of $623 million or 47 cents a share, which topped the consensus estimate of 42 cents a share. Sales of $6.9 billion came in just short of the consensus estimate of $6.94 billion. HP raised its outlook for adjusted earnings in the current fiscal year to a $1.88 - $1.96 a share range (prior range was $1.82 to $1.94). CEO highlighted that the firm delivered record-breaking gross margins despite challenges like supply constrains and inflationary costs.
Broadcom (AVGO.US) reported adjusted quarterly earnings of $6.96 per share, 8 cents above estimates. Revenues came in slightly above the forecast as well. The chip maker expects current quarter revenue of roughly $7.35 billion, above the consensus estimate of $7.23 billion. The company continues to see strong demand in the 5G mobile market.
Virgin Galactic (SPCE.US) shares fell after US officials grounded the firm’s “SpaceShipTwo” from further flights following a probe into the craft's decent from its maiden flight into space in early July.
Apple (AAPL.US) said it would delay a controversial plan to scan users’ photo libraries for images of child exploitation.
Hewlett Packard Enterprise (HPE.US) shares jumped after earnings beat. The price climbed above $15.50 and tested the upper limit of the upward channel. The ongoing recovery move started in mid-July - since then the stock gained more than 15%. Recent highs may be found above the $16.70 mark. Source: xStation5
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