- Wall Street in weak mood at start of Friday session
- Berkshire Hathaway takes a stake in Domino's Pizza
- Alibaba results and Applied Materials in the background
US markets open Friday's cash session in a weak mood. As of 20 minutes after the Wall Street open, the Nasdaq is losing 1.4%, while the S&P500 is down 0.75%. Investor attention today is focused on corporate news and retail sales and industrial production data from the US.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appCurrent volatility observed on Wall Street. Source: xStation
US100
The Nasdaq-100 index, represented by the US100 contract is trading lower today relative to yesterday's close by nearly 1.4%. However, the index continues its dynamic upward trend all the time. From a technical perspective, it seems that the support set by the 50-day EMA (blue curve on the chart) and the psychological level of $20,000 may be key to maintain the overall upward momentum.
Source: xStation 5
Corporate news
Alibaba (BABA.US) is gaining slightly early in today's session, after the company's earnings came in above expectations, even though revenue results disappointed.
Q2 RESULTS
- Revenue 236.50 billion yuan, +5.2% y/y, estimated 239.43 billion yuan
- Adjusted earnings per share 15.06 yuan vs. 15.63 yuan y/y, estimated 14.93 yuan
- Adjusted EBITDA 47.33 billion yuan, -3.9% y/y, estimated 46.89 billion yuan
Applied Materials (AMAT.US) shares fall 8.3% after the company issued a forecast that raised concerns about continued demand in the semiconductor sector.
FIRST QUARTER FORECAST
Net sales of between $6.75 billion and $7.55 billion, the estimate was $7.25 billion
Adjusted earnings per share of $2.11 to $2.47, estimated $2.28
FOURTH QUARTER RESULTS
Adjusted earnings per share $2.32 vs. $2.12 y/y, estimated $2.19
Net sales $7.05 billion, +4.8% y/y, estimated $6.97 billion
Semiconductor Systems net sales $5.18 billion, +6% y/y, estimate $5.13 billion
Applied Global Services net sales $1.64 billion, +11% y/y, $1.61 billion estimate
Adjusted gross margin 47.5% vs. 47.3% y/y, estimate 47.4%
Domino's Pizza (DPZ.US) rises 2% after Berkshire Hathaway bought shares in the pizza chain.
Moderna (MRNA.US) and other vaccine makers saw declines after President-elect Donald Trump said he was picking vaccine skeptic Robert F. Kennedy Jr. to head the Department of Health and Human Services.
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.
