We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Breaking news

US and Chinese Negotiators are Reportedly Planning to Delay December Tariffs - WSJ

Real Time News
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.19% 🇬🇧GBP: 0.19% 🇪🇺EUR: 0.17% 🇯🇵JPY: -0.07% 🇳🇿NZD: -0.12% 🇦🇺AUD: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/QYEPPPB9jm
  • RT @MacroCharts: Equity Positioning (updated). For months I've noted that HFs were completely out of Stocks and would (likely) need to cha…
  • RT @USTradeRep: When NAFTA was negotiated, the digital revolution was in its infancy. The agreement did not specifically address digital tr…
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: France 40: 0.09% US 500: 0.09% Wall Street: -0.00% Germany 30: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SRjBeURWT8
  • It is unusual for tail risk to rise this markedly specifically into the closing weeks of the year - it has held an elevated level in the past through holidays. Last time it saw this level charge this late in the season was 2013
  • With yesterday's volatility in volatility ($VIX), the tail risk $SKEW index has jumped to its highest level since Oct 4, 2018 https://t.co/Zv9InCtewt
  • Heads Up:🇺🇸 USD IMF Chief Kristalina Georgieva Speaks in Washington due at 15:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-12-10
  • It seems we are heading for the completion of the USMCA, and the $USDCAD seems to care very little https://t.co/NfwlUVU6Zv
  • AUD/USD, NZD/USD Face Key Technical Thresholds – AUD & NZD vs USD Price Analysis More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2019/12/10/AUDUSD-NZDUSD-Face-Key-Technical-Thresholds-AUD-NZD-vs-USD-Price-Analysis-MK-.html?CHID=9&QPID=917714 https://t.co/y4Ko9ea6eZ
  • Chair of the Ways and Means Committee Neal: - No reasons for delaying a vote on USMCA $DXY $CAD $MXN #NAFTA
Google’s Earnings Beat Breathes Life into FANG, US Equities

Google’s Earnings Beat Breathes Life into FANG, US Equities

2018-07-23 21:30:00
Peter Hanks, Junior Analyst
Share:

Talking Points:

  • Google beat on revenue and earnings per share, before accounting for fines, sending the stock higher in after-hours trading
  • A recent EU anti-trust fine will cost the tech-giant $5 billion, Google will file for appeal
  • Alphabet 2Q revenue grew $26.24 billion versus $25.55 billion forecasted

Check out our Third Quarter Forecasts for Currencies, Commodities and Equities to Enhance Your Trading Opportunities!

As the overarching, US equity bull phase approaches a decade, earnings season is an opportunity for corporations to do their part in extending it. Starting this week on a strong footing Monday, Google released earnings figures for 2Q 2018, posting a beat and subsequently climbing in after-hours trading. Against an expected revenue of $25.55 billion, Google reported $26.24. Earnings per share including fines came in at $4.54. Factoring out the fines, EPS would have weighed in at $11.75 versus an expected $11.68. Revenue for a year prior was $20.9 billion, also influenced by a fine from the European Commission.

The Silicon Valley giant faces a wave of regulatory scrutiny both domestically and abroad with the European Commission levying a $5 billion fine just days before earnings. The fine is the result of anti-trust violations with Google’s Android mobile operating system. The fine nearly doubles last year’s payment of $2.7 billion to the European Commission. Alphabet said they will look to appeal the $5 billion hit and in the meantime will accrue it as a charge in the second quarter. Moving forward, mobile profits in Europe could be challenged should the appeal fail and competitors gain ground on the Android system.

Google’s Earnings Beat Breathes Life into FANG, US Equities

Chart from Marketwatch

Despite the unfavorable adjustment to EPS, investors and traders took the report as a healthy reading with Alphabet shares climbing 6% in after-hours trading before levelling off near 4%. The climb contrasts last week’s miss by FANG member Netflix, which saw its shares drop precipitously. US investors will gain further insight on the health of the tech industry when Facebook and Amazon, the two remaining FANG members, report earnings on July 25th and 26th respectively. If the remaining giants deliver strong performances, US equities may be able to shrug off some of the recent concerns blowing in from trade wars.

To learn about the history of trade wars, read the Brief History of Trade Wars.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.