News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
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
Oil - US Crude
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
Wall Street
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
Bearish
GBP/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
USD/JPY
Bearish
More View more
Real Time News
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/5VzSt5Ak7R
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/Jkv0onMyZw
  • Why is JPY called a safe haven? What are some factors in its favor this quarter? Get your free forecast here: https://t.co/mzeJ5x73N3 #DailyFXGuides https://t.co/S4bwgGZxmw
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/T3W8CIg5iy
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/FPgZ5gkgrM
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/E0KhcKHrOf
  • For some reason an old story has popped up - many apologies.... https://t.co/jHjQxyFRXM
  • The US dollar is unloved, oversold and at lows last seen over 30-months ago. At the moment there seems to be very little reason to buy the greenback. Get your $USD market update from @nickcawley1 here:https://t.co/VY3SLs35cp https://t.co/w5ljByv9cf
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/CpqePQYF4E
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/Rg2YGZCUCr
Stock Market Update: Earnings on Tap for BA, INTC and AMZN

Stock Market Update: Earnings on Tap for BA, INTC and AMZN

2019-04-24 20:30:00
Peter Hanks, Analyst

BA, INTC and AMZN Talking Points:

Stock Market Update: Earnings on Tap for BA, INTC and AMZN

The Dow Jones steered lower on Wednesday after upbeat earnings from Boeing (BA) were unable to drag the index higher and recoup losses from other constituents like Caterpillar (CAT). Although Boeing missed on revenue figures, the stock’s price climbed – suggesting analysts were expecting worse as the 737 Max 8 issue continues. Consequently, Boeing announced it has abandoned its 2019 financial forecasts as it deals with the aftermath of two deadly crashes.

Conversely, Caterpillar weighed on the index after warning of strong competition in China and questionable demand in the rest of Asia. The negative outlook seemingly overwhelmed the impact from strong revenue and EPS, both of which beat out analyst expectations. Unlike Caterpillar, the tech giants Facebook (FB) and Microsoft (MSFT) delivered reassuring results after the closing bell.

Check out our Second Quarter forecasts for the S&P 500, Dow Jones, Gold and more.

Facebook beat on all fronts. Apart from the financials, daily and monthly active users came in above expectations and sent the stock 4% higher immediately after the data was released. The company reported $1.89 earnings per share on $15.08 billion in revenue compared to expectations of $1.63 and $14.97 billion respectively. Despite a possible $3 to $5 billion Dollar fine from the FTC regarding privacy, investors were eager to gain exposure to the social media giant.

Not to be outdone, the world’s second largest public company also outperformed Street estimates. Microsoft reported $1.14 EPS on $30.6 billion in revenue and traded nearly 2.5% higher. The stellar performance from both tech giants should spur bullish momentum for the broader Nasdaq and S&P 500 in Thursday trading.

INTC, AMZN Earnings Implied Volatility

Stock Market Update: Earnings on Tap for BA, INTC and AMZN

As for future reports, option traders are expecting relatively muted price action for Intel (INTC), even after recent earnings from Texas Instruments (TXN) suggested that the semi-conductor sector may not be out of a cyclical downturn. Intel’s report should offer further insight into the matter when they report after Thursday's close.

Intel Corp (INTC) Price Chart: Daily Time Frame (July 2017 – April 2019) (Chart 1)

intc price chart earnings

That said, implied volatility for INTC in the weeks to follow is noteworthy at 15.6%. Price action in the days to come could see Intel test the 78.6% Fib level - from the stock’s high in 2000 to its low in 2009. While $62.24 is outside the 1-day implied volatility, it is comfortably within the 20-day implied range and would mark the first resistance level in an attempt higher.

For support, INTC will look to the swing high from June at $57.48 which also marks the high on April 16. The level is well within the implied price range and would likely come into play should earnings disappoint.

Amazon (AMZN) Price Chart: Daily Time Frame (September 2018 – April 2019) (Chart 2)

AMZN price chart earnings

Alongside INTC, FAANG member Amazon will offer their fiscal findings. The online-retailer has a 1-day implied volatility of 4.6% which could see it break beneath both the 78.6% Fib level at $1,891 and short-term trendline support around $1,875. From a technical perspective, the topside looks to be the path of least resistance with the next Fib level at $2,049 – outside of the 1-day implied volatility.

Although other notable quarterly reports are due Friday, the broader S&P 500 and Dow Jones will likely look to US GDP to drive price action. As earnings season progresses, follow @PeterHanksFX on Twitter for equity insight.

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

Contact and follow Peter on Twitter @PeterHanksFX

Read more: History Suggests the Stock Market Will Climb in the Weeks After Easter

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.

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

DISCLOSURES