- European equities mostly down on Tuesday
- US consumer confidence jumps to 14-month
- Alphabet (GOOGL.US) and Microsoft (MSFT.US) due to report after market close
European indices finished today's session mostly lower amid mixed bag of quarterly earnings. Shares of UBS plunged to 11-week low as the company unexpectedly announced $774 million Archegos-related loss. However, investment banking company reported better-than-expected 14% rise in quarterly net profit. HSBC posted mixed quarterly figures. Pre-tax profits and earnings more came in well above analysts’ expectations, while revenue was down. BP reported upbeat quarterly figures. DAX 30 fell 0.3%, CAC40 finished slightly below the flat line and FTSE100 lost 0.26%.
US indices fell slightly today, after both the S&P 500 and the Nasdaq closed at record levels in the previous session. Investors digested today's mixed earnings and braced themselves for quarterly results from big tech companies. Both Microsoft and Alphabet will report today after the closing bell. Meanwhile Tesla shares fell nearly 4% despite the electric automaker delivering upbeat results. Still many investors remain bullish on the stock, with growth in China touted as key to the company’s future. Tomorrow market attention will turn to the FED monetary policy meeting and Chair Powell press conference. Although the central bank is not expected to make any changes to its dovish stance, traders will be looking for any clues on future tapering.
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Open account Try demo Download mobile app Download mobile appWTI crude rose more than 1.0% and is trading around $62.50 a barrel, while Brent is trading 0.6% higher around $66.00 a barrel. The OPEC+ joint technical committee kept its forecast for growth in oil demand growth this year, but showed concerns over surging COVID-19 cases in India, Brazil and Japan. Elsewhere gold fell 0.16% to $ 1,777.00 / oz, while silver is trading 0.50 % higher, around $ 26.33 / oz amid slightly weaker dollar and higher US Treasury yields.
Gold is testing the lower limit of the ascending channel which is additionally strengthened by 50 SMA (green line). Should break lower occur, then downward move may accelerate towards support at $1755. On the other hand, if sellers will manage to regain control, then another upward impulse towards resistance at $1800 may be launched. Source: xStation5
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