Facebook: paradise lost?
The US authorities filed a lawsuit against Facebook - what are the implications?
Wall Street is braced for starting higher
On Tuesday, American stock market was braced for starting a bit higher. It managed to stabilize following yesterday’s dive powered by fears that the fallout from the US-China trade conflict could dominate the corporate earnings season and suppress gains.
As a matter of fact, Xerox Corp soared by 5.9%, while 3M Co ascended by 2.8% because the companies had profit forecasts surpassed. Meanwhile, Pfizer Inc headed south by 3.4%.
On Monday, Wall Street sold off. The reason was that Nvidia Corp and Caterpillar Inc joined a surging list of businesses to blame a deceleration in China for grim estimates.
Another major China-linked business, Whirlpool Corp inched down by 6.2% after the home appliances manufacturer warned of a higher tax bill, a stronger greenback and costs affecting its 2019 gain.
Despite earnings have mostly beaten Wall Street's expectations, assisting the S&P 500 to jump nearly 12% from its December minimums, fears about decelerating global surge have tempered hopes.
Since the reporting season burst out two weeks ago, experts’ forecasts for fourth-quarter profit surge have been intact at nearly 14%, although hopes for this year’s earnings surge have declined from 6.3% to 5.6%.
In addition to this, ET, Dow e-minis managed to rally by 0.27%. As for S&P 500 e-minis, they shot up by 0.14%. Nasdaq 100 e-minis jumped by 0.23%.
On Tuesday, the major US financial institution starts a two-day monetary policy gathering. Having gradually lifted interest rates in 2018, the Federal Reserve has just made up its mind to wait and see as for further tightening against the backdrop of an overseas deceleration as well as market volatility.
Harley-Davidson Inc stocks headed south by nearly 9% after the motorcycle manufacturer posted a lower-than-anticipated quarterly gain, affected by diving sales in America.
Verizon Communications Inc inched down by 3.3% because the US number one wireless carrier missed quarterly profit estimates.
Similar
FACEBOOK, GOOGLE: Russian threat? Give me a break
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
TESLA: getting into the S&P... getting hot!
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
Latest news
ECB report is in focus
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Markets await Biden to unveil "trillions dollars"
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
USD came under selling pressure
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
Deposit with your local payment systems
