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
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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
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
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
Mixed
More View more
Real Time News
  • Today, I wrote about how Ethereum Continues to Outshine Bitcoin Performance. Check out my latest analysis on cryptos via @DailyFX at the link below: https://www.dailyfx.com/forex/market_alert/2021/05/12/ethereum-eth-continues-to-outshine-bitcoin-btc-performance.html $ETH $BTC #Bitcoin https://t.co/ucYAMX27sg
  • Colonial Pipeline: It will take "several days" to restore normal supply #OOTT #CrudeOil $CL_F
  • Gold remains locked in a descending channel but price has begun to recover and could break higher. Get your $XAUUSD market update from @PeterHanksFX here:https://t.co/TOGIFZlhER https://t.co/lkS2vxx862
  • U.S. Energy Sec. Granholm: Colonial to restart pipeline around 5 PM EST #OOTT #CrudeOil $CL_F
  • AUD/USD sharply lower as investors embrace risk-off sentiment following this morning's inflation data $AUDUSD https://t.co/msnDj1dCrU
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.29% 🇨🇭CHF: -0.60% 🇬🇧GBP: -0.61% 🇯🇵JPY: -1.00% 🇦🇺AUD: -1.49% 🇳🇿NZD: -1.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3ncLAzThu8
  • AUD/USD extends the decline from the monthly high (0.7891) as the update to the US Consumer Price Index (CPI) shows a larger-than-expected rise in inflation. Get your $AUDUSD market update from @DavidJSong here:https://t.co/2cnyOu67Lv https://t.co/fOr8ZMSqs0
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.23% Gold: -1.26% Silver: -2.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0j3vSy7Wsi
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.18%, while traders in GBP/USD are at opposite extremes with 66.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4EbJyF3G82
  • President Biden: I see room for a compromise on infrastructure bill $USD
S&P 500 Forecast: Stellar Tech Earnings Could Supercharge Risk Appetite

S&P 500 Forecast: Stellar Tech Earnings Could Supercharge Risk Appetite

Peter Hanks, Strategist

S&P 500 Price Outlook:

  • Earnings from Apple, Amazon, Google and Facebook collectively blew past analyst estimates
  • Together, the stocks account for nearly 35% of the Nasdaq 100 and are crucial for risk appetite
  • The reports could spark broader demand for US indices after looming event risk saw price action in the S&P 500 coil in anticipation

S&P 500 Forecast: Stellar Tech Earnings Could Supercharge Risk Appetite

Traders and investors will have a lot to digest as the weekend approaches after an incredible string of corporate reports from Apple,Amazon,Facebook and Google. Together, the stocks account for almost 35% of the Nasdaq 100 and could supercharge risk appetite in the days ahead as they have been trailblazers in the covid recovery-rally.

Elevated Expectations Outmatched

Across the board, each company impressed on both top and bottom lines, displaying a remarkable ability to leverage their respective platforms to profit in the unusual economic times. That said, investor expectations surrounding each of the mega-cap corporations were heightened beforehand – a theme discussed in our earnings preview. Therefore, the subsequent jump in share price for each stock is arguably more impressive than the results themselves.

Either way, big tech seems to have delivered a perfect symphony of quarterly results, forward guidance and share price reaction to curate a material improvement in market sentiment – just as the S&P 500 was displaying signs of indecisiveness. In turn, risk appetite may flourish as the FANGMAN group looks retake the reigns as the leaders in speculative interest.

A Brief History of Major Financial Bubbles, Crises and Flash-Crashes

While their impact may be observed most easily in the Nasdaq’s performance, the reports could have knock-on effects for the S&P 500 and Dow Jones, as well as other risk-sensitive assets like the Australian Dollar and crude oil, even after a concerning US GDP print. To that end, a failed follow-through for each of the stocks could complicate a broader risk-on rally which could then be considered an ominous sign in and of itself.

S&P 500 Price Chart: 4 – Hour Time Frame (February 2020 – July 2020)

S&P 500 price chart

Nevertheless, it could be said the arrival of the major tech earnings marks the peak of the season for traders with broader macroeconomic considerations. Still, the deluge of corporate reports will continue next week as hundreds more companies are set to release results.

While the largest players have passed, these reports should continue to inject volatility into the market, but it may take a much larger or unexpected shock to shake the resolve of the major players after Thursday’s victory. In the meantime, follow @PeterHanksFX on Twitter for earnings updates and analysis as they arrive.

--Written by Peter Hanks, Strategist for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

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

DISCLOSURES