The US market had the potential to run today thanks to Microsoft but has been holding down from Alphabet and Boeing as their earnings were below the expectations.
At the closure of the market session S&P rose 0.18%, NASDAQ almost lateral -0.01% and Dow Jones Industrial Average +0.2%
2 Big Techs today were on the starting grid for quarterly earnings. Google -3.67% and Microsoft +4.81%, the first one went into sharp decline after a weaker than expected growth on Youtube.
Youtube is now lagging for the 2nd time in a row slowing down the whole Alphabet Giant machine.
Microsoft 4.81% on the other hand grew thanks to the right moves on Azure Cloud which accelerated its growth from 46% to 49% in revenue base.
Meta Platforms -3.32% to report its earnings during the after hours. At press time it seems that the stock beat the analysts’ expectations going above the forecast.
The other colleagues from the tech department experienced a bad session losing between 1 and 5%. Among all we report: Amazon (-0.88%), Twitter (-2.09%). Netflix in free fall (-4.97%).
Still in red AMD and NVIDIA which lost respectively -0.29% and -1.99%. These two companies’ investors fretted over, during yesterday’s session, the lack of microcomponents and chips due to the difficulties in the supply chain following the increment of positive cases to Covid-19 in China. The only one in green is Qualcomm which skyrocketed more than 5% in after hours trading reporting positive results.
General Electric among the top losers of the day for the NYSE which tumbled more than 10% after some issues with governance, even if the stock beat the expectations.
Air companies moved up on the market. Exceptions made for Boeing which reported dismal quarterly results with an increase in costs and delays tumbling of 7.53%. Other colleagues from the same department reported: United Airlines stock (+2.91%), Alaska Air Group (+0.80%) and American Airlines (+1.07%).
Energy stocks collected green points as oil prices rose, covering losses despite a weaker dollar and a downbeat demand projection of fuel.
Positive day for the energy sector trying to cover some past losses: Baker Hughes (-0.22%), APA(+3.50%), Devon Energy Corporation (+2.96%) Schlumberger NV (+1.09%), Halliburton (+2.33%).
Financial sector was again almost all in red but supported by an exceptional performance from Visa (+6.47%), in a session which saw American Express (-0.57%), JPMorgan Chase (-1.30%), and Goldman Sachs (+0.04%).
Most traded stocks:
- Apple -0.15% 83.55M
- AMD -0.29% 82.16M
- Microsoft 4.81% 62.89M
- Meta Platforms -3.32% 59.70M
- NVIDIA -1.99% 49.25M
Top Gainers of US Stocks
- Ostin Technology 891.50%
- Tenon Medical 350.00%
- Acutus Medical 35.99%
- Cosmos Holdings 33.96%
- Locafy 33.05%
Top Losers of US Stocks
- JE Cleantech Holdings -68.41%
- Molecular Partners AG -37.37%
- Agile Thrpe -29.85%
- Immuron -27.71%
- Q And K Intl -25.42%
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