Dow Jones futures rose slightly late Wednesday, as did S&P 500 futures and Nasdaq futures. On Wednesday, the stock market’s rally was under increasing pressure as the mixed-income report led to stock sell-offs, the coronavirus case spurred lockdowns in most of Europe, and elections approaching.
X
Pinterest The earnings of (PINS) and ServiceNow brought some hope overnight, which gave several colleagues a boost. But with the advent of the stock market’s rise, everyone’s eyes are focused on Thursday’s earnings tsunami, including Apple stock. Amazon.com (AMZN), Facebook (FB) and Google parents letter (GOOGL).
The Nasdaq Composite Index fell for 50 days, falling into the Dow Jones Index and the S&P 500 Index. Megacap technology stocks supported the Nasdaq market on Tuesday and were sold on Wednesday. Microsoft (MSFT) revenue has declined.Apple stock fell to a one-week low of xx%, and the FANG trio Amazon.com (AMZN), Facebook (FB) and Google parents letter (GOOGL) fell below its 50-day average.Tesla stock and Nvidia (NVDA) Closed below its 50 antenna. ServiceNow stock fell, but rebounded from 50 days. Shopify (SHOP) fell to this critical level, Adobe (ADBE) A low near its bottom.
Perhaps the most positive news from Wednesday’s meeting was increased fear. During the stock market decline in late September, after the CBOE Volatility Index (CBOE) barely fluctuated, the intraday surged to its highest level since mid-June, although it was much lower than the March summit. The put/subscribe ratio rose to 0.9, which is high, but not extreme.
Excessive short positions are often associated with short-term bottoms. But this need not happen immediately, and any rebound need not last.
Why use this IBD tool to simplify the search for popular stocks
Income after get off work
Current service (Now), Pinterest, Etsy (ETSY), visa (V), Teladoc Health (TDOC), Livengo (LVGO) and Solar power (SPWR) announced earnings after the close.
ServiceNow rose moderately and Pinterest stock soared. After several peers gave weak guidance, ServiceNow’s earnings gave some commercial software manufacturers a slight boost. Pinterest’s earnings boosted upcoming reports on Facebook and Twitter stocks, both of which have suddenly appeared in a blowout recently Capture (SNAP) Results.
Mastercard (Mastercard) performance is weak, First Solar performance is good, Visa and SunPower share price rose slightly. Etsy stock rose slightly after falling below the buy point on Wednesday. Teladoc’s stock and merger partner Livongo backed down because Teladoc predicted greater losses in the fourth quarter. SunPower shares fell slightly.
Thursday earnings
At the beginning of Thursday, Shopify stock, the coronavirus vaccine producer modern (MRNA), Idexx Lab (IDXX), Spotify Click (SPOT).
Then the main event: apple (AAPL), Amazon stock, Facebook and Google Thursday night reports, and Twitter (TWTR) etc.
Tesla (TSLA), Microsoft, Nvidia and ServiceNow stocks are all on the IBD rankings. Microsoft Stock, Adobe, ServiceNow and Idexx Labs are long-term leaders of IBD. Nvidia, Amazon, Adobe, Microsoft, and ServiceNow are located on IBD 50.
Dow Jones Futures Today
Dow Jones futures edged up 0.1%. S&P 500 futures rose 0.2%. Nasdaq 100 futures rose 0.4%. Keep in mind that overnight trading in Dow Jones Index futures and elsewhere will not necessarily translate into actual trading in the next regular stock market session.
Join the IBD experts, who analyze the actionable stocks during the stock market rally in IBD Live.
Coronavirus news
The number of global coronavirus cases reached 44.68 million. The death toll from Covid-19 exceeds 1.17 million.
In the United States, the number of coronavirus cases has reached 9.1 million and the death toll has exceeded 232,000.
France will implement new lock-in measures from Friday. If employers say they cannot complete their work at home, people will be told that in addition to buying necessities, seeking medical care, exercising or going to work, others should stay at home. But the school will remain open. Germany will close bars and restaurants from Monday. Several other European countries have imposed partial coronavirus lockdowns or other restrictions. This will cause damage to travel, consumer spending and the global economy.
So far, U.S. cities and states have not substantially increased coronavirus restrictions, but Americans can stay at home more and strengthen social distancing measures.
at the same time, Pfizer (PFE) said on Tuesday that it will not obtain a temporary coronavirus vaccine from the final test until the November 3 general election, after the company had previously stated that it might disclose such data before the end of October.
Stock market rebound
The stock market suffered heavy losses and basically closed at intraday lows. The Dow Jones Industrial Average fell 3.4% in Wednesday’s stock trading, falling below its low in late September to its lowest level since the end of July. The S&P 500 Index fell 3.5%, its lowest level since September 25. The Nasdaq Composite Index fell 3.7% to within the 50-day line, which is also the lowest since September 25.
Microsoft, the latest software manufacturer to give weak guidance, fell 5% on Wednesday. Dow Jones (Dow Jones) stock and Apple, which is a component of the S&P 500 and Nasdaq, fell 4.6%. Amazon fell 3.8%, while Facebook and Google shares fell 5.5%. Tesla shares fell 4.4%, and all these tech giants fell below the 50-day moving average.
Shopify shares fell 5.5% after making encouraging moves on Tuesday.
With these losses, it is not surprising that Nasdaq fell below its 50-day trading line.
Among the best ETFs, the innovative IBD 50 ETF (FFTY) fell 3.1%. The iShares expansion technology software industry ETF (IGV) fell 3.5%, of which Microsoft and ServiceNow stocks are notable members of the stock. The VanEck Vector Semiconductor ETF (SMH) fell 3.2%. Nvidia stock is a key component.
ServiceNow revenue
ServiceNow’s revenue increased by 22% over the same period last year. Revenue increased by 30% to 1.15 billion US dollars.Analysts had expected ServiceNow’s earnings per share of 1.03 US dollars and revenue of 1.11 US dollars
The commercial software maker also guided slightly higher subscription revenue in the fourth quarter.
ServiceNow earnings reports and guidance follow warnings or poor guidance from some software manufacturers.German software giant sap (SAP) reported a major warning on Sunday. Microsoft, Teverio (TWLO) and Dynamic trace (DT) This week gave mixed guidance fast (FSLY), missed the lower view later on Wednesday.
ServiceNow shares rose 3% overnight. Now, the stock is down 3.15%, but it is currently near the 50-day line.
Adobe and Salesforce.com[ticker symb=CRM] After falling more than 4% on Wednesday, it rose slightly.
Pinterest earnings
Pinterest’s earnings per share soared to 13 cents per share, compared with 1 cent in the same period last year. Revenue jumped 58% to $443 million. Analysts on average expect Pinterest to earn 4 cents per share on revenue of $383.5 million.
In overnight trading, PINS shares rose 28%. The company’s stock price fell 6.2% on Wednesday to 49.25, but it has expanded significantly.
Shares of Facebook rose 2.5%, Twitter rose nearly 6%, and both companies’ stock prices fell more than 5% on Wednesday night.
Stock market analysis
On Monday, IBD changed the direction of the market to “trend under pressure”. It can be said that the current stock market pressure is even greater.
Due to the soaring fears of the coronavirus and important events such as Thursday’s revenue tsunami and next Tuesday’s election day, it is difficult to convince this situation to increase exposure. The earnings of Apple and Amazon may be large, and investors are happy with the election results, but this is just a guess. Right now, the stock market rebound is accelerating.
Trying to stay ahead of the market’s rebound in the past few weeks means jumping in as the trend fades.
The recent breakthroughs and early buy points have largely failed. Many leaders collapsed. Investors should reduce their holdings, wait for the new stock market vitality, and then make new purchases. It may take days, weeks or months.
Read The Big Picture every day to keep up with the market direction and leading stocks and industries.
Follow Ed Carson on Twitter at: @IBD_ECarson Information about stock market updates and more.
You might also like:
These four stocks are struggling when buying, but this is the real problem
Use MarketSmith to capture the next big winner stocks
Want to make quick profits and avoid huge losses? Try SwingTrader
The best growth stocks to buy and watch
IBD Digital: Unlock IBD’s advanced inventory, tools and analysis today
#Dow #Jones #Futures #Pinterest #ServiceNow #earnings #provide #hope #market #crash #follow #Apple #Amazon #Facebook
More from Source