CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

US OPEN: US indices open a touch lower as Fed decision looms large

14:45 2 November 2022
  • US indices launch session slightly lower

  • ADP employment report beats estimates, attention turns to Fed

  • Bandwidth surges almost 50% after earnings

Wall Street indices launched cash trading slightly lower, following a downbeat trading in Europe so far today. However, scale of the drop is small with Dow Jones being top laggard (-0.3%) and Nasdaq being top performer (-0.1%). Traders should keep in mind that as a key event of the week - FOMC rate decision - will take place later today at 6:00 pm GMT, a mixed and somewhat muted trading may be ahead.

ADP employment report for October was released today at 12:15 pm GMT and turned out to be better-than-expected. Employment gain of 239k reported for the previous month was higher than 195k expected by the market. However, while a beat is welcome, details are not so bright. A bulk of this increase was reported in the leisure and hospitality segment (210k) and transportation (+84k) while in most other segments employment change was negative. However, market reaction to the release was short-lived as investors are waiting for a Fed decision scheduled for today evening (6:00 pm GMT)

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

US small-cap index Russell 2000 (US2000) continues to move higher following the break above the upper limit of a market geometry in the 1,800 pts area last week. However, advance stalled today yesterday in the evening after a failed attempt to break above the resistance zone ranging below 61.8% retracement of the August-September downward correction. A level to watch as the pullback deepens is a support zone in the 1,840 pts area, marked with the 50% retracement. A break below would mean painting the largest downward correction in the current upswing and may hint at a reversal of short-term trend. Source: xStation5

Airbnb (ABNB.US) launched today's trading lower following the release of a Q3 2022 earnings report. Company reported a 31% YoY jump in gross bookings, to $15.6 billion (exp. $15.4 billion). Net income increased from $0.83 billion in Q3 2021 to $1.20 billion in Q3 2022. This translates into EPS of $1.79 (exp. $1.47 billion). Revenue increased from $2.24 billion in Q3 2021 to $2.88 billion in Q3 2022 (exp. $2.85 billion). Free cash flow was 80% YoY higher at $960 million (exp. $1.1 billion). Airbnb also issued a Q4 revenue forecast of $1.86-1.88 billion, that was in-line with market expectations and marks a decrease from Q3 that is in-line with seasonal patterns.

Benefitfocus (BNFT.US) rallies after M&A news. It was reported that Voya Financial (VOYA.US) agreed to buy Benefitfocus in a $570 million deal. Voya will pay $10.50 per each Benefitfocus share, representing a 50% premium over Tuesday's closing price.

Estee Lauder (EL.US) drops following the release of calendar Q3 2022 earnings report and a disappointing forecast for the current quarter. Company reported EPS at $1.35, down from $1.88 reported a year ago and slightly above $1.31 expected by the market. Revenue was 10.5% YoY lower at $3.93 billion. Company issued a downbeat forecast for fiscal-2023 (calendar Q3 2022 - Q2 2023), saying it now expects net sales to drop 6-8% YoY. Previous guidance called for a 3-5% YoY sales growth.

Bandwidth (BAND.US) gains after reporting better-than-expected results for the quarter ended in September. Company reported EPS at $0.27, much above $0.03 expected by analysts and above last year's EPS of $0.24. However, adjusted EPS came in at negative $0.03. Revenue increased from $130.64 million in Q3 2021 to $148.33 million in Q3 2022, and was 5.5% higher than expected. Company expects Q4 2022 revenue to reach $146-148 million and EPS to come in at $0.03-0.05.

Share price of Bandwidth (BAND.US) leaped higher after release of earnings report. Stock launched today's trading with a big bullish price gap and is now trading almost 50% higher on the day. Shares cleared a downward trendline and tested a mid-term resistance zone in the $18.50 area. Source: xStation5

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.

Xtb logo

Join over 1 Million investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
userBranchSymbol cc 2 March 2024
adobe_unique_id cc 1 March 2025
test_cookie cc 1 March 2024
SESSID cc 9 September 2022
__hssc cc 1 March 2024
__cf_bm cc 1 March 2024
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
_gid cc 9 September 2022
_gat_UA-22576382-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
AnalyticsSyncHistory cc 8 October 2022
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
__hstc cc 28 August 2024

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
muc_ads cc 7 September 2024
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 28 August 2024

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
personalization_id cc 7 September 2024
UserMatchHistory cc 8 October 2022
bcookie cc 8 September 2023
lidc cc 9 September 2022
bscookie cc 8 September 2023
li_gc cc 7 March 2023

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence