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Nasdaq 100, Dow Jones Climb Ahead of AAPL, AMZN, FB, GOOG Earnings

Nasdaq 100, Dow Jones Climb Ahead of AAPL, AMZN, FB, GOOG Earnings

2020-10-29 20:00:00
Peter Hanks, Analyst
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Nasdaq 100 and Dow Jones Price Forecast:

  • The Nasdaq 100 awaits earnings from Apple, Amazon, Facebook, Google and Twitter
  • The Dow Jones will look to earnings from Apple, which was once the largest component of the index
  • The earnings have huge implications for stocks regardless of the index as they are key drivers of sentiment and price gains in the covid era

Nasdaq 100, Dow Jones Climb Ahead of AAPL, AMZN, FB, GOOG Earnings

After enduring a disastrous day of trade on Wednesday, stocks recovered admirably just hours before some of the world’s largest publicly traded companies are due to report their quarterly results. Beyond their size, the technology companies of Apple, Amazon, Facebook and Google are some of the most important drivers of sentiment behind the Nasdaq 100, Dow Jones and S&P 500.

Nasdaq 100, Dow Jones Climb Ahead of AAPL, AMZN, FB, GOOG Earnings

Source: Bloomberg

To extrapolate further, moves in these US indices have often influenced price action in other markets like the DAX 30, CAC 40, FTSE 100 and Nikkei 225. Evidently, the quarterly results have immense potential to create volatility and drive price action. After an encouraging report from Microsoft on Tuesday and months of steady gains, market expectations for the results are understandably high.

Scheduled to release Thursday between 20:00 and 20:30 GMT, traders can join a live breakdown of the reports by Strategist Peter Hanks by viewing the YouTube link attached to this article.

--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.

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