
Good morning, traders! Here’s the most impactful news of the week and the day. The market will be highly volatile, so you better be ready.
International Business Machines Corp. released its first quarter earnings report. Let’s see how IBM performs amid the coronavirus.
IBM’s adjusted EPS (earnings per share) dipped by 18.2% to $1.84 compared to $2.25 a year ago. However, it exceeds analysts’ expectations, what is quite good. Unlike EPS, the revenue was lower than it was anticipated. It was $17.57 billion with forecasted $17.62 billion.
IBM was damaged by the coronavirus like other companies. The main hit was on cognitive applications and transaction processing businesses, used heavily by retailers and the automotive industry, which can’t work now properly. However, IBM’s CFO reassured that 70% of its customers are minimally influenced by the virus spread.
According to MarketWatch, 5 analysts have buy ratings, 12 have hold ratings, and 2 have sell ratings, along with an average price target of $132.28. Due to the reaction after the report the price could go up, but then after some time it may go down.
We could wait until the price gives us a hint. If it breaks up through the resistance line on 117, it might go up further with a greater possibility than go down. And, if it breaks down through the support line on 111 that lays on the 50-day moving average, it might go down.
Good morning, traders! Here’s the most impactful news of the week and the day. The market will be highly volatile, so you better be ready.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!