-
US indices launch cash session little changed
-
US100 maintains previous trading range after failing to break above 12,100 pts
-
Delta Air Lines trades higher on upbeat full-year guidance
Wall Street indices launched today's cash session little changed. S&P 500 traded flat in the first minutes of the session while Dow Jones and Nasdaq posted small gains. However, indices caught a bid following the opening. FOMC rate decision at 7:00 pm GMT is a key event of the day and indices may see mixed trading until then. Lower-than-expected CPI print yesterday triggered a spike on indices and boosted odds for a more dovish take from Powell and his Fed colleagues. A 50 bp rate hike today looks like a done deal but the future outlook may be more dovish.
Source: xStation5
Nasdaq-100 (US100) rallied yesterday and briefly traded at the highest level since mid-September 2022. However, bulls failed to sustain momentum and the index began to trim gains. Price pulled back below 12,100 pts resistance zone and US100 is trading back within its recent range (11,500 - 12,100 pts). Until the FOMC decision is announced, Indices may struggle to find direction and launch a stronger move in either direction. With a 50 bp rate hike looking like a done deal, investors will focus on terminal rate forecasts. Market currently expects rates to peak at 4.9% in May 2023 and to drop to 4.4% by the end of 2023, what would be a lower level than the 2023 median in September's dot-chart (4.625%).
Company News
Delta Air Lines (DAL.US) is trading higher today after the company provided higher-than-expected full-year guidance. Delta Air Lines expects full-year 2022 adjusted EPS to reach $3.07-3.12 (exp. $2.89) while full-year adjusted revenue is seen in the $45.5-46.5 billion range (exp. $45.9 billion). When it comes to results for Q4 alone, the company expects adjusted EPS to reach $1.35-1.40, up from previous $1.00-1.25 forecast, and revenue to climb 7-8& compared to 5-9% growth in previous forecast.
ViaSat (VSAT.US) trades higher after announcing partnership with Microsoft (MSFT.US). Two companies will work together to increase internet availability in underserved communities around the globe.
Charter Communications (CHTR.US) launched today's trading with a bearish price gap. Company said at an investor day hosted yesterday that it plans to spend $5.5 billion on its network to expand its offering of higher-speed broadband connections. While expansion of the network is business-positive, analysts also note that increase in capital expenditures will weigh on near-term cash flow. It would make the company less resilient and will also limit its ability to conduct buybucks.
Delta Air Lines (DAL.US) launched today's trading higher and tested resistance zone marked with previous price reactions as well as 23.6% retracement of the upward impulse launched at the turn of September and October ($34.60 area). However, bulls failed to break above and the stock started to trim gains. Share price broke below 50- and 200-hour moving averages later on. Source: xStation5
US100 gains 1% before Nvidia earnings📈
US OPEN: All Eyes on Nvidia
Will the Fed minutes confirm a pause in further easing? 🔎
NVIDIA Earnings Preview: A Key Test for the Tech Market and the AI Boom
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.
