- US stocks open slightly lower
- Jobless claims returned below 300k
- AT&T (T.US) stock gains after solid quarterly results
US indices launched today's session slightly lower after the Dow Jones retook its record high in the prior session amid solid corporate earnings. Still S&P500 and Dow are trading near their record levels. On the corporate front, AT&T beat on earnings and subscriber growth and Blackstone profits nearly doubled. Meanwhile, IBM revenues disappointed while Tesla posted record earnings and revenue. Intel, Chipotle Mexican Grill and Whirlpool will release their quarterly figures after the closing bell. On the data front, initial jobless claims fell to 290k last week, the lowest level since March 2020 and below analysts' estimates of 300k as employers retain workers due to an acute labor shortage.
US2000 launched today’s session higher and price is approaching the upper limit of the triangle formation. Should break higher occur, upward move may accelerate towards resistance at 2312.5 pts where September high is located. On the other hand, if sellers manage to regain control and break below the lower limit of the formation, then support at 2258 pts may be at risk. Source: xStation5
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AT&T (T.US) stock rose 1.5% in premarket trading, after the posted quarterly profit of 87 cents per share, while analysts' expected earnings of 78 cents. Revenue also beat market expectations thanks to higher demand for its phone and internet services as well as HBO and HBO Max.
AT&T (T.US) stock has been trading in a downward move since mid-May, however it seems that buyers manage to halt declines around support at $25.00. Stock launched today’s session higher following upbeat quarterly results. If current sentiment prevails, then the next target for bulls is located at $27.00 and coincides with previous price reactions and 23.6% Fibonacci retracement of the last downward move. Source: xStation5
Tesla (TSLA.US) reported record revenue for Q3 2021 - $13.76 billion (exp. $13.63 billion). Unlike other carmakers that have already reported results, Tesla managed to increase sales in spite of chip shortages. Net income reached $1.62 billion, or $1.86 per share (exp. $1.59 per share). Company recorded a Bitcoin-related impairment of $51 million.
IBM (IBM.US) stock fell 5% in premarket after the computer hardware company posted mixed quarterly figures. IBM earned $2.52 per share, slightly above market expectations of $2.50 per share, however revenue figures disappointed amid some weakness in the company's cloud business and a pullback in client spending.
Blackstone (BX.US) stock rose nearly 3.0% in premarket action, after the private equity firm reported quarterly earnings of $1.28 per share, topping a consensus estimate of 91 cents. Company benefited from strong investment performance, among other factors.
Quest Diagnostics (DGX.US) stock rose 3.4% in the premarket following better-than-expected quarterly results. The medical lab operator posted quarterly earnings of $3.96 per share, compared to market expectations of $2.88 per share. The company’s results got a boost from increased Covid testing, and it raised its full year outlook.
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