Nasdaq 100, Treasury Yields, Intel Earnings, Dow Jones - Speaking FactorsNasdaq 100 leads markets larger as Treasury yields decline following disa
Nasdaq 100, Treasury Yields, Intel Earnings, Dow Jones – Speaking Factors
- Nasdaq 100 leads markets larger as Treasury yields decline following disappointing jobs information
- Intel studies Q2 Earnings, Revenues & EPS beat estimates, full 12 months steerage raised
- Nasdaq 100 gearing up for one more take a look at of 15,000 following constructive value motion, earnings
US fairness benchmarks continued their march larger on Thursday, led by the Nasdaq 100. Tech shares bounced on declines in US Treasury yields, which got here following a disappointing and sudden bounce in unemployment claims. Market members look like positioning into tech-related equities previous to subsequent week, which is able to see among the largest tech corporations report their quarterly earnings. The Dow Jones posted its third consecutive day of positive factors, whereas the S&P 500 additionally notched slight positive factors.
Nasdaq 100 1 Hour Chart
Chart offered by TradingView
Intel reported earnings for Q2, with many following alongside for steerage because it pertains to the worldwide semiconductor scarcity. Intel posted a powerful quarter, beating income and earnings estimates. Q2 EPS got here in at $1.28 per share, vs. estimates of $1.07. Revenues totaled $18.5 billion, towards a consensus estimate of $17.eight billion. The world’s largest chipmaker additionally raised 2021 steerage, indicating that there could also be mild on the finish of the tunnel for chipmakers and people reliant on their chips. Regardless of the robust quarter, shares of Intel dipped barely in speedy after-hours buying and selling.
Broader markets have rebounded nicely this week following considerations over the Delta variant of COVID. The most important and most important Nasdaq 100 constituents start to report earnings subsequent week, which can clarify this week’s bullish value motion. The query stays whether or not robust earnings might be sufficient to propel markets larger, with the tech-heavy index having already examined the 15,000 stage. The S&P 500 slipped on Monday, tagging its 50-day transferring common. The bounce following Monday’s decline sees the index retest an ascending trendline from November 2020, which can act as near-term resistance. “Beneath the floor” rotation might assist stop a broader sell-off, however future retracements again to the 50-day MA might persist given 2021’s value motion.
S&P 500 (SPX) Day by day Chart
Chart offered by TradingView
— Written by Brendan Fagan, Intern for DailyFX
To contact Brendan, use the feedback part beneath or @BrendanFaganFX on Twitter
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