- Federal Reserve decision in the spotlight
- President Biden first address to Congress
- Spotify (SPOT.US) stock plunged 8% after soft Q1 results
US indices launched today's session mixed as investors digest earnings from two tech-giants and await Fed's monetary policy decision later in the day. The US central bank is expected to leave monetary policy settings unchanged and send a balance message saying it is too early to tighten policy. Apple and Facebook will report their quarterly figures after market close. Another event worth noting is President Biden's speech to Congress as he is expected to provide more details on a $1.8 trillion proposal that includes new spending on child care, education and paid leave.
US2000 is currently testing major resistance at 2305.3 pts. Should break higher occur, then upward move may be extended to the next resistance at 2372.2 pts. However in case buyers will fail to uphold momentum, then nearest strong support lies at 2248 pts. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appSpotify (SPOT.US) stock plunged nearly 8% in premarket after the music streaming service reported a smaller quarterly loss than analysts expected and better than expected revenue figures. Company also reported a 24% increase in monthly active users and gave upbeat guidance for the current quarter.
Spotify (SPOT.US) - yesterday stock bounced off the resistance at $300.33 which coincides with 200 SMA (red line) and upper limit of the wedge formation. Stock launched today’s session with a bearish price gap and is trading below the 50 SMA ( green line). If the current sentiment prevails, support at 262.32 may be at risk. Source: xStation5
Alphabet (GOOGL.US) stock rose more than 5% in premarket after the tech giant posted record profit for the second consecutive quarter. Company earned $26.29 per share which came in above analysts’ expectations of $15.82 a share. Revenue beat Wall Street projections, and the Google parent also announced a $50 billion share buyback.
Microsoft (MSFT.US) shares fell more than 2.5% in the premarket despite the fact that the company posted upbeat quarterly figures. Microsoft earned $1.95 per share, above market consensus of $1.78. Revenue also surprised on the upside. Profits from the Intelligent Cloud segment increased 23.1% YoY to $15.118 billion.
Boeing (BA.US) shares fell more than 1% in premarket after the company reported quarterly loss of $1.53 per share, while analysts expected a much smaller loss of $1.15 per share. However revenue came in above market estimates. Jet maker said the global pandemic continues to challenge the overall market environment.
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