Nasdaq loses ground ahead of Microsoft and Alphabet earnings reports after session 📌
Nasdaq100 (US100) futures are slightly down by 0.35%. The lower volatility is due to the upcoming key financial reports after today's session and other macro publications later in the week.
- After the close of the cash session, Microsoft (MSFT.US), Alphabet (GOOGL.US), and AMD (AMD.US) will publish their results. Investor expectations are high, and the companies must prove that the recent increase in valuations was justified. Particularly interesting will be the forecasts for 2024 and 2025.
- Nasdaq remains close to historic highs, but market uncertainty is noticeable. We are observing an increase in the value of the dollar and slight declines in indices.
- Besides the reports after today's session closure, investors are also looking forward to tomorrow's Fed decision and labor market reports.
- Today's JOLTs data were higher than expected, but a year-to-year decline is noticeable. JOLTs are close to recent period lows but remain significantly above pre-pandemic highs.
US100 is down 0.36% ahead of the results, but the price is still near historic highs and remains in a strong upward trend. The MACD indicator shows a slight divergence, but despite weakening momentum, we are still in a zone indicating an upward trend. In case of a deeper correction, it's important to monitor levels set by the lower limit of the upward channel, which is currently around 17200 points.
Source: xStation 5
AMD (AMD.US)
Shares are down 0.40% ahead of the results but remain around historic highs. The company benefits from the ongoing dynamic growth of the AI market, and the share price reflects this. After breaking upward from the ascending channel, the share price consolidates around 176 USD.
Source: xStation 5
Alphabet (GOOGL.US)
Google shares are down 0.35%, still maintaining above the previous historic highs around 151 USD.
Source: xStation 5
Microsoft (MSFT.US)
Microsoft shares are significantly above the previous historic high and also gained 0.05% today. Subsequent upward waves are supported by the upward trend line (blue line).
Source: xStation 5
