US OPEN: Alphabet joins $1 trillion market cap club

1:43 PM 17 January 2020
  • US indices poised to open higher at fresh records

  • USD gains on solid housing market data

  • Alphabet (GOOGL.US) joins $1 trillion market capitalization club

US indices finished yesterday’s session at fresh records and are poised to open even higher today. The US dollar caught a bid following the release of housing market data for December. While building permits turn out to be slightly weaker than expected (-3.9% MoM vs exp. -1.5% MoM), a major beat was spotted in housing starts that. Those came in at 1608k, marking a massive 16.9% MoM jump. It was the biggest monthly increase since October 2016.

US2000 continues march higher. The index finished yesterday’s trading within resistance zone ranging above 1700 pts mark. Index futures are making a break above the zone today ahead of session open as upbeat moods persist and are additionally boosted by strong housing market figures. Should bullish sentiment prevail, the index may test its only remaining resistance next week - all-time high at 1745 pts. Source: xStation5

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

State Street (STT.US), one of the largest asset management companies in the world, reported earnings for Q4 2019 today ahead of the opening bell. Return on average equity of 11.6% was higher than median estimate (10.3%). Q4 fee revenue increased 3.5% YoY to $2.37 billion while full Q4 revenue stood at $3.05 billion. Assets under management increased 24% YoY to $3.12 trillion. EPS of $1.73 was 3% higher than median estimate and 66% higher than a year ago.

Schlumberger (SLB.US) also reported Q4 2019 earnings today. The US oilfield services company reported Q4 EPS of $0.39 (exp. $0.37). Revenue grew 0.6% YoY to $8.23 billion (exp. $8.14 billion). Business in North America underperformed as revenue from the region dropped 13% YoY. Schlumberger managed to increase sales in all other markets. Company expects 2020 CapEx to reach around $1.7 billion, lower than market consensus of $1.85 billion.

Rally on shares of Schlumberger (SLB.US) was halted by the resistance zone ranging below $41 handle. The stock pulled back to the upward trendline, that is additionally strengthened by the 50-session moving average (green line). However, quite a solid earnings report for Q4 may boost sentiment towards the stock. In such a scenario, traders should focus on the $41. Source: xStation5

Alphabet (GOOGL.US) became the third US company to surpass a market capitalization of $1 trillion. The two other such companies are Apple (AAPL.US) and Microsoft (MSFT.US). Based on yesterday’s closing price, Amazon (AMZN.US) is worth $931 billion and is likely to be the fourth US company to break $1 trillion mark. Four of the aforementioned companies account for around 16.5% of S&P 500 market capitalization.

Twitter (TWTR.US) is making moves in the pre-session trading following a downgrade it has received at UBS. Stock was cut from “buy” to “neutral”. The Bank said that ongoing investments will act as earnings headwinds throughout 2020. Price target was cut from $37 to $35.

Twitter (TWTR.US) still has not recovered from a major share price drop that followed previous earnings release. The stock climbed above 23.6% Fibo level of the downward move started in September 2019. Company is likely to trade under pressure today due to a downgrade it has received at UBS. The nearest support zone to watch ranges below the aforementioned Fibo level. Source: xStation5

Share:
Back
Xtb logo

Join over 935 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
test_cookie cc 25 January 2024
adobe_unique_id cc 1 March 2025
__hssc cc 8 September 2022
SESSID cc 2 March 2024
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-98728395-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gcl_au cc 30 May 2024
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
__hstc cc 7 March 2023
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language