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: Wall Street mixed as Netflix drags tech sector lower

15:00 20 April 2022
  • US stocks mixed
  • Netflix (NFLX.US) weigh on tech stocks
  • IBM (IBM.US) stock surges after upbeat quarterly results

Major Wall Street indices launched today's session in mixed moods. Dow Jones and S&P 500 rose 0.45% and 0.10% respectively, while Nasdaq fell 0.50% dragged by Netflix  weak quarterly results. Media giant lost 200,000 subscribers during the first quarter and its stock price fell over 30%. Tesla and United Airlines are among the companies due to report after market close. Today markets attention will focus on Fed policymakers speeches as investors await more hints on the central bank's policy outlook.

US30 managed to break above the upper limit of the downward channel yesterday which provided more fuel for market bulls. Today the index broke above the upper limit of the 1:1 structure and local resistance at 3500 pts which coincides with 61.8% Fibonacci retracement of the last downward correction. Next major resistance is located at 35255 pts. Source: xStation5

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Company news:

IBM (IBM.US) stock rose over 5.0% in premarket after the company posted earnings of $1.40 per share, slightly above $1.38 per share. Revenue figures also topped market estimates partially thanks to strong hybrid cloud platform business.

IBM (IBM.US) stock launched today's session with a bullish price gap and is currently testing the upper limit of the triangle formation. If current sentiment prevails, upward move may accelerate towards local resistance at $ 138.30 which coincides with 23.6% Fibonacci retracement of the upward wave launched in March 2020. On the other hand, if sellers manage to regain control, nearest support to watch lies at $129.20. Source: xStation5

Procter & Gamble (PG.US) stock added more than 1.0% in premarket after the consumer goods corporation reported solid quarterly results. Company earned $1.33 per share beating Wall Street projections of $1.29 and recorded the highest YoY sales increase since the early 2000's due to elevated demand for household products. Procter also raised its organic sales forecast.

Major streaming companies Walt Disney (DIS.US) and Roku (ROKU.US) fell 5.0% and 6.8% respectively before the opening bell, in response to Netflix (NFLX.US) diminishing subscriber numbers.

Baker Hughes (BKR.US) stock dropped 2.0% in premarket after the oilfield services company reported quarterly earnings of 15 cents per share, below analysts’ expectations of 20 cents per share. Also revenue also missed forecasts due to “volatile operating environment”.

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.

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