Nasdaq 100 at Report Excessive as Tesla Earnings Beat, Will Hold Seng Rebound?

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Nasdaq 100 at Report Excessive as Tesla Earnings Beat, Will Hold Seng Rebound?

NASDAQ 100, HANG SENG INDEX, ASX 200 INDEX OUTLOOK:Dow Jones, S&P 500 and Nasdaq 100 indexes closed +0.24%, +0.24% and +0.09% respectivelyTesl


NASDAQ 100, HANG SENG INDEX, ASX 200 INDEX OUTLOOK:

  • Dow Jones, S&P 500 and Nasdaq 100 indexes closed +0.24%, +0.24% and +0.09% respectively
  • Tesla’s Q2 outcomes beat estimates, setting a optimistic tone for the Nasdaq 100
  • The Hold Seng Index fell probably the most in additional than a 12 months as regulators tightened curbs on varied sectors

Tesla Earnings, Hold Seng Index, FOMC Assembly, Asia-Pacific at Open:

Wall Avenue shares marched greater into document territory because the earnings season continued to ship extra optimistic surprises. The estimated earnings progress price for the S&P 500 corporations has been revised as much as 74% from 64%, in response to Factset. If 74% is the precise progress price for the quarter, it’s going to mark the quickest enlargement in additional than a decade. Earnings optimism helped to defy viral issues and tapering fears, sending Wall Avenue indices to their all-time highs.

Tesla is the most recent tech agency that posted a optimistic earnings shock. The corporate reported a quarterly EPS of $1.45, in comparison with a $0.98 estimated. Income got here in at $11.96 billion, versus a $11.30 billion estimate. This marks its eight consecutive worthwhile quarter or the electrical automobile firm, and the optimistic pattern might proceed with lower-priced automobiles changing into the next share of the general gross sales combine.

Nasdaq 100 at Record High as Tesla Earnings Beat, Will Hang Seng Rebound?

The Nasdaq 100 index climbed 0.09% to a document excessive, lifted by large-cap shares comparable to Tesla (+2.21%), Alphabet (+1.33%) and Amazon (+1.18%).

Every day Efficiency of Nasdaq 100 Prime 1Zero Shares – 26-07-2021

Nasdaq 100 at Record High as Tesla Earnings Beat, Will Hang Seng Rebound?

Supply: Bloomberg, DailyFX

Trying forward, China’s industrial income dominates the financial docket alongside US sturdy items orders and CB shopper confidence. In the meantime, merchants are eyeing Wednesday’s FOMC assembly, due at 18:00 GMT, for clues concerning the Fed’s coverage steerage and a timeline for tapering stimulus. Discover out extra from the DailyFX calendar.

Asia-Pacific markets look set to commerce blended on Tuesday. Futures in Japan, Australia, Hong Kong, Taiwan, Singapore and India are within the inexperienced, whereas these in mainland China, South Korea, Malaysia and Thailand are within the purple.

The Hold Seng Index (HSI) tumbled over 4% and the Hold Seng Tech Index plunged 6.5% on Monday amid intensified fears about regulatory clampdowns on the know-how and schooling sectors. New Oriental Schooling (9901 HK) fell 47% after regulators unveiled an overhaul of its schooling sector by banning corporations that educate faculty topics from making income, elevating capital or going public. Heightened regulatory dangers dampened market sentiment, and margin calls from these worst damage shares might intensify promoting stress within the broader market. The near-term outlook stays bearish-biased.

Nasdaq 100 IndexTechnical Evaluation

The Nasdaq 100 index breached above a key resistance stage at 14,950 – the 261.8% Fibonacci extension. This may possible intensify near-term shopping for stress and open the door for additional upside potential with an eye fixed on 15,400. The MACD indicator is flattening amid an uptrend, suggesting that costs could also be briefly overbought and weak to a technical pullback.

Nasdaq 100 IndexEvery day Chart

Nasdaq 100 at Record High as Tesla Earnings Beat, Will Hang Seng Rebound?

Hold Seng Index Technical Evaluation:

The Hold Seng Index breached under the ground of a “Descending Triangle” sample, highlighted on the chart under. This means that the index might proceed its downward trajectory as promoting stress intensifies. A right away assist stage may be discovered at 26,200 – the 61.8% Fibonacci retracement. The MACD indicator is trending decrease beneath the impartial line, underscoring downward momentum.

Hold Seng IndexEvery day Chart

Nasdaq 100 at Record High as Tesla Earnings Beat, Will Hang Seng Rebound?

ASX 200 Index Technical Evaluation:

The ASX 200 index is buying and selling in a decent vary between 7,230-7,370, ready for recent catalysts for a breakout. The general pattern stays bullish-biased, as recommended by the consecutive greater highs and better lows shaped over the previous few months. A serious resistance stage may be discovered at round 7,500. The MACD indicator is about to kind a bullish crossover, suggesting that bullish momentum could also be constructing.

ASX 200 Index – Every day Chart

Nasdaq 100 at Record High as Tesla Earnings Beat, Will Hang Seng Rebound?

— Written by Margaret Yang, Strategist for DailyFX.com

To contact Margaret, use the Feedback part under or @margaretyjy on Twitter

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