And Intel earnings boost Nasdaq 100. APAC shares open mixed

NASDAQ 100, HANG SENG, OUTLOOK FOR THE ASX 200 INDEX:

  • Dow Jones, S&P 500 and Nasdaq 100 indices closed + 0.07%, + 0.20% and + 0.66% respectively
  • As much as Intel beat EPS estimates, but Intel’s forward-looking indications disappointed investors
  • Asia Pacific markets are positioned for a mixed opening. Japanese market is closed for holidays.

, Intel, Unemployment Claims, Asia Pacific to open:

Wall Street stocks hit record highs Thursday as investors took in strong corporate earnings amid revitalized revival hopes. Asia-Pacific markets However, it may continue to lag behind its US peers due to the spread of Covid-19 Delta Variant in the region.

US earnings season has been good so far, with about 86% of S&P 500 companies beating analysts’ EPS forecasts. 22 of the 25 companies that reported earnings on Thursday offered positive surprises, including Twitter and Intel. Here’s a quick update:

Twitter:

  • EPS at $ 0.20, compared to an estimate of $ 0.064 (189% higher)
  • Revenue of $ 1.19 billion, compared to an estimate of $ 1.06 billion (an increase of 11.8%)
  • resumption of live events and increased brand advertising boosted second quarter results by reopening after the Covid lockouts. pent-up demand among large advertisers could persist in the second half

Intel:

  • EPS at $ 1.28, compared to the estimate of $ 1,065 (20% increase)
  • Revenue of $ 18.53 billion, compared to an estimate of $ 17.84 billion (4% more)
  • Intel’s share price fell 2% after the company issued cautious guidance on gross margins in the third quarter due to supply restrictions.
  • While PC and server shipments may be a bright spot, growth in its semiconductor segment lags behind competitors like Nvidia and AMD.

Meanwhile, weekly initial jobless claims data fell short of expectations. About 419,000 jobless claims were filed last week, up from an estimated 350,000. previous week’s figure was revised to 368k from 360k. A slower-than-expected recovery in the labor market could serve to ease fears that are subsiding as Fed officials monitor inflation and employment data to set monetary policy.

Weekly Unemployment Claims in the United States

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Source: Bloomberg, DailyFX

Asia-Pacific markets look like they will end the week on the wrong foot. Futures in Australia, mainland China, Hong Kong, Taiwan, Singapore and India are in the red, while those in South Korea, Malaysia and Thailand are higher. Japanese markets are closed for public holidays.

Looking back at Thursday’s close, 4 of the 5 sectors of the Dow Jones closed higher, with 46.7% of the components of the index closing in the green. Materials (+ 1.26%) and information technology (+ 1.08%) were among the best, while energy (-1.00%) and finance (-0.99%) lagged .

Dow Jones Industry Trend 07-22-2021

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Source: Bloomberg, DailyFX

Nasdaq 100 index technical analysis

Nasdaq 100 index is attempting to break through a key resistance level at 14,950 for a second try. A successful attempt can open the door to further upside potential, while a pullback can lead to a test of the 20-day SMA line for immediate support. MACD indicator has formed a bearish crossover and has been trending downtrend, suggesting that the bullish momentum may be waning.

Nasdaq 100 Index – Daily Chart

Hang Seng Index Technical Analysis:

It appears that the Hang Seng Index will rebound from an immediate support level of 27,150, potentially forming a ‘double bottom’ chart pattern. However, the overall trend remains bearish as the SMA lines have formed a “Death Cross” and have declined. MACD indicator is about to form a bullish crossover below the neutral midpoint, suggesting that short-term selling pressure may wear off.

Hang Seng Index – Daily Chart

ASX 200 Index Technical Analysis:

ASX 200 Index is trading in a tight range between 7,230-7,370, awaiting new catalysts for a breakout. overall trend remains bullish, as suggested by the consecutive highs and lows formed in recent months. An important resistance level can be found around 7,500. MACD indicator is about to form a bullish crossover, which suggests that it may be picking up bullish momentum.

ASX 200 Index – Daily Chart

– Written by Margaret Yang, Strategist for DailyFX.com

To contact Margaret, use the Comments section below or @margaretyjy on

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