- US indices launched today's cash trading higher
- Core PCE slightly above expectations
- Apple and Amazon both posted solid quarterly results
- Intel stock tumbles on weak financial outlook
US indices launched today's session higher as upbeat outlooks from technology giants overshadowed weak inflation data. The core PCE Price Index jumped slightly above analysts’ estimates, which points out that inflation still has not reached its peak. Now market attention will focus on University of Michigan consumer sentiment data.
US100 is currently testing key resistance at 13000 pts, which is marked with upper limit of the local 1:1 structure and 38.2% Fibonacci retracement of the upward wave launched in March 2020. Should break higher occur, upward move may accelerate further. However if sellers manage to regain control, then another downward impulse towards support at 12000 pts may be launched. Source: xStation5
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Intel (INTC.US) stock plunged more than 11.0% in premarket after the chip maker’s reported weak quarterly results and issued weak financial outlook for the current quarter as company expects that supply chain issues, weakening demand and delays in the rollout of new data center chips may have negative impact on its financial results.
Intel (INTC.US) stock launched today’s session with a bearish price gap and is currently testing support at $38.80 marked by recent lows and lower limit of the descending channel. Should break lower occur, next target for sellers is located at $30.60, which coincides with 78.6% Fibonacci retracement of the upward wave launched in 2013. Source: xStation5
Amazon.com (AMZN.US) stock jumped over 12.0% in premarket trading after the e-commerce giant reported better-than-expected quarterly revenue and issued an upbeat outlook.
Apple (AAPL.US) stock rose over 2.0% after the tech giant barely managed to beat analysts’ estimates when it comes to earnings and revenue, while sales of its flagship iPhone surprised on the upside.
Roku (ROKU.US) dropped over 23.0% in premarket following larger-than-expected quarterly loss and disappointing revenue figures. Additionally the company issued weak financial guidance.
Exxon Mobil (XOM.US) shares added over 2.5% in premarket after the oil giant recorded its biggest quarterly profit in history benefiting from sky-high energy prices and expenses reduction.
Procter & Gamble (PG.US) stock dropped nearly 4.0% as quarterly profits were negatively affected by the strong dollar, higher commodity prices and freight costs
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