- 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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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”.
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