
This week AMD, Amazon, and Apple will release their earnings reports. These tech giants will determine the future of the US stock market!
2021-07-16 • Updated
Boston-area Moderna was an unknown biotech company before it succeeded with the COVID-19 vaccine. The company gained 1400% from the beginning of the COVID-19 pandemic and on July 21st, it will join S&P 500 index and replace Alexion Pharmaceuticals Inc. It has great financial health as her short-term assets exceed her short and long-term liabilities. What is going to happen with the price? Let’s discuss!
Source: https://simplywall.st/stocks/gb/software/lse-mode/mode-global-holdings-shares
On November 17th, 2020, the great news was announced. Tesla was set to join S&P 500 index on December 21st, 2020. Let’s check what had happened with the stock during that period.
On the daily chart, it is visible that the price raised from $410 to $650 and gained 60%. During the next month, the price moved even higher and reached $880. The overall profit was 114%.
On the weekly Moderna’s chart, we can notice that is a lot of growth potential. First, the RSI Oscillator is still lower than 85, which means that bulls have enough power to push the price higher. Second, there is no top shadow on a weekly bar, which indicates traders are not ready to sell the stock on that price level. But it is important to watch how Friday’s trade session is going to finish! If traders decide that even during this session, they are not going to fix their profits, the price will hit the phycological resistance level of $300.
This week AMD, Amazon, and Apple will release their earnings reports. These tech giants will determine the future of the US stock market!
Despite the positive outlook, the FBS analysts are cautious about buying the stock heading into earnings. The stock market has already experienced a significant run-up. Thus, a correction may happen this week!
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
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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Don’t waste your time – keep track of how NFP affects the US dollar and profit!