- US PCE Price Index rises for 4th month
- Twitter (TWTR.US) stock fell sharply due to slow user growth and poor guidance
- Amazon (AMZN.US) posted record profit for the fourth straight quarter
US indices launched today's session lower, erasing part of recent gains as investors digest a set of earnings results, particularly from Amazon and Twitter. Meanwhile, Apple was under pressure, after the EU said the company's App Store was breaching its competition rules. On the data front, the PCE price index advanced 2.3 % YoY, the most since 2018; and the core index increased 1.8%. Personal income surged 21.1% MoM in March, rebounding from a revised 7% decline in February and above analysts estimates of a 20.3% gain. Personal spending rose 4.2 % in March, following a 1.0 % fall in February and slightly beating market consensus of a 4.1% growth.
US100 rose slightly above its previous all-time high during yesterday's session however buyers failed to uphold momentum and the index pulled back below the support at 13905 pts and 50 SMA ( green line). If the current sentiment prevails, then downward move may be extended to the 13711 pts level or even support at 13500 pts which is strengthened by 200 SMA (red line). Source: xStation5
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Open real account TRY DEMO Download mobile app Download mobile appTwitter (TWTR.US) stock plunged more than12.0% in premarket trading despite the fact that the social media giant posted better than expected quarterly figures. Company earned 16 cents per share while analysts expected a slightly lower figure of 14 cents per share. Revenue also slightly came in above Wall Street expectations. Investors reacted negatively to news regarding rising expenses and a possible slowdown in user growth.
Twitter (TWTR.US) stock launched today’s session with a massive bearish price gap and is testing major support at $56.15. Should break lower occur, then downward move towards next support at $45.00 may accelerate. On the other hand, if buyers will manage to halt declines, then nearest resistance lies at $59.28. Source: xStation5
Amazon.com (AMZN.US) stock rose 2.4% in the premarket after the company posted record profit for the fourth straight quarter, with earnings of $15.79 per share which came in well above analysts' forecasts of $9.54 a share. Revenue also beat market expectations, with Amazon showing strength in all its business lines. Company does not expect the pandemic-induced boom in online shopping to fade once the crisis recedes.
Skyworks Solutions (SWKS.US) stock fell nearly 8% in premarket despite the fact that the maker of semiconductors posted upbeat quarterly figures. Company earned $2.37 per share which came 2 cents a share above consensus estimate. Revenue also beat analysts’ estimates, however the company provided disappointing guidance.
Gilead Sciences (GILD.US) stock dropped more than 2.5% in premarket trading after the company posted weaker than expected quarterly results. Earnings of $2.08 per share missed analysts' expectation by a penny. Revenue also came in below market projections due to weaker sales for its HIV and hepatitis C drugs, although it did benefit from sales of its remdesivir Covid-19 treatment.
