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
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
Oil - US Crude
More View more

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Traders should know how to confidently approach, enter and exit both Bull or Bear markets. Need some insight into it? Get it from @nickcawley1 here: https://t.co/GhvvFrB3gz https://t.co/HcUUXMO1bK
  • 🇬🇧 GBP BOE Asset Purchase Target (SEP), Actual: N/A Expected: 435b Previous: 435b https://www.dailyfx.com/economic-calendar#2019-09-19
  • 🇬🇧 GBP Bank of England Bank Rate (SEP 19), Actual: N/A Expected: 0.75% Previous: 0.75% https://www.dailyfx.com/economic-calendar#2019-09-19
  • European parliament favours Breixt extension if one is to be requested $GBP
  • Having a consistent trading strategy can’t be understated when it comes to the process of trading. How can having a consistent strategy avoid #FOMOintrading? Find out from @WVenketas here: https://t.co/f4y1FOOZnM https://t.co/2QHVgRlMc7
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (SEP 13) due at 11:00 GMT (15min), Actual: N/A Expected: N/A Previous: 2.0% https://www.dailyfx.com/economic-calendar#2019-09-18
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.42%, while traders in France 40 are at opposite extremes with 79.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ReHxHQMPBJ
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: 0.01% Oil - US Crude: -0.45% Silver: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rq2EKnzq0p
  • Bitcoin breakout nears...#bitcoin #btc https://t.co/5si6ROEIBy
  • EUR/USD, EUR/JPY Technical Forecast: Failure at Crucial Resistance More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/eur-jpy/2019/09/18/EURUSD-EURJPY-Technical-Forecast-Failure-at-Crucial-Resistance-MK.html https://t.co/9sYz3Ee5wq
Facebook Earnings Could Help Spur Another Strong Session for the S&P 500

Facebook Earnings Could Help Spur Another Strong Session for the S&P 500

2018-10-30 20:54:00
Peter Hanks, Junior Analyst

Talking Points:

  • Facebook has fallen roughly 20% in the year to date and is now down $75 from its peak in July
  • The company missed on revenue but delivered a strong showing on an earnings per share basis
  • Immediately following the report, shares of Facebook saw mixed trading but looked to close timidly higher in after-hours

Equity markets closed firmly in the green Tuesday, marking only the fifth such occurrence for October in 2018. Tomorrow may be poised for a continuation of Tuesday’s strength following encouraging earnings from Facebook. The social media giant is one of the key NASDAQ members and a FANG member. As a darling of the tech world, Facebook is often looked to as a contributor for tech sentiment and broader equity sentiment to a degree.

FANG Price Chart Daily, Year-to-Date (Chart 1)

FANG index after facebook earnings

While it is unlikely Facebook alone could drive markets higher tomorrow, the report and subsequent market response are weighed with other recent earnings. Amazon and Alphabet reported earnings last week and disappointed investors. Coupled with Facebook, the mixed performances have thus far proved bearish for FANG and the NASDAQ. The slight bump experienced by Facebook could look to nullify some of the negative sentiment.

Join our analysts for Live Webinars that range from live coverage of central bank decisions and economic data breakdowns to trading Q&A’s.

Leading up to the report, shares of Facebook were performing admirably and closed roughly 4% higher. The climb was miniscule compared to the descent Facebook has witnessed since July. After second quarter earnings were reported, shares plummeted 20% on advertising revenue growth concerns. Since then, weakness has continued along with the broader indices.

Facebook Price Chart Daily, Year-to-Date (Chart 2)

Facebook year to date

Third quarter earnings for the social media giant read in roughly on target to analyst expectations. Revenue missed slightly, $13.73 billion versus the expected $13.80 billion. Despite the slight miss, earnings per share delivered a hearty beat. Third quarter EPS read $1.76, notably higher than the expected $1.46.

Facebook Price Chart After-Hours, October 30th (Chart 3)

Facebook price chart

After briefly dipping 5%, Facebook recovered in after hours and traded roughly 2% higher as investors awaited the earnings call. Tech and equity speculators will now look to Apple’s third quarter report on Thursday to gauge FANG sentiment moving forward. A stellar performance from the largest publicly traded company in the US could make meaningful inroads into staging a broader equity rebound or some buoyancy at a minimum.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: S&P 500, Dow Rout Allows Bold Investors to Pick up Cheap Shares

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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


News & Analysis at your fingertips.