2022-12-16 • Updated
Most analysts foresee that the software giant has to exceed market forecasts this time. And if it really does, Microsoft will skyrocket. The Wall Street consensus is for revenue of $35.7 billion with profits of $1.54 a share. Last time the company revealed revenue of $38 billion with profits of $1.46, beating estimates of $36.4 billion and $1.38, relatively. Microsoft has managed not only to withstand the devastating coronavirus, but also to outperform! Its’ different products such as Azure, Office365, PC – all benefit from the stay-at-home regime as lots of companies have been forced to work remotely. Elsewhere, the soon release of the new Xbox added optimism. No doubt that this time the results will be better than expected. Stifel bank ungraded its price target to $245.00. Get ready to use this great opportunity on October 27 at 23:30 MT time!
Microsoft is currently at the 50.0% Fibonacci retracement level. It’s great that there is more room for the stock to rise firstly to the 78.6% Fibonacci level of $225.00 and then to $233.00. Moreover, it has strong supports of the 50-day moving average of $212.00 just underneath, that it’s unlikely to cross. Awesome chance to gain some profit!
If it’s all clear for Microsoft, Pfizer’s position is not so strong. Pfizer is working in a collaboration with a young, but highly-potential company BioNTech. Their vaccine candidate is one of the few frontrunners in the race nowadays. As you may remember, Johnson & Johnson and AstraZeneca have already left the competition because of the patients’ negative reactions. So, who knows, maybe Pfizer will save the world from the virus. If they succeed, they will receive $1.95 billion from the US government to supply 100 million doses. Of course, the company depends not only on the success of the vaccine, but it also has many other products. Notably, it’s one of the deepest pipelines in the biopharmaceutical industry. Follow the earnings report on October 27 at 16:00 MT time and catch the market movement!
Pfizer is trading inside of the triangle pattern. It has approached the intersection of the trendlines, so the earnings report may become the decisive moment for the stock. If earnings are better than expected, Pfizer may jump to $39.00 and then to $40.50. Otherwise, the move below the 50-day moving average of $37.00 will drive the price to the 200-day MA at $36.25. Follow the releases and join the flow!
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China has issued new oil product export quotas to allow oil companies to send surplus barrels overseas, particularly Sinopec, which has the highest volume among quota holders. While the exact quota volume remains undisclosed, oil companies are forecasted to export approximately 3.5 million metric tons of clean oil products in September, a 10% increase from August.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
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