NASDAQ 100, HANG SENG INDEX, ASX 200 INDEX OUTLOOK:
- Dow Jones, S&P 500 and Nasdaq 100 indices closed at + 0.24%, + 0.24% and + 0.09% respectively
- Tesla’s Q2 results exceeded estimates, giving the Nasdaq 100 a positive tone
- The Hang Seng index fell the most in more than a year as regulators tightened the curbs in various sectors
Tesla revenue, Hang Seng index, FOMC Meeting in the Asia-Pacific region at the Open:
Wall Street shares marched to record highs than income season continued to offer more positive surprises. The estimated earnings growth rate of S&P 500 has been changed to 74% from 64%, according to Factset. With a quarterly real growth rate of 74%, this marks the fastest expansion in more than a decade. Earning optimism helped defy viral worries and shrinking fears, sending Wall Street indexes to an all-time high.
Tesla is the latest technology company to announce a positive profit surprise. The company reported quarterly EPS of $ 1.45, compared to an estimated $ 0.98. Revenue was $ 11.96 billion, compared to $ 11.30 billion. This marks eight consecutive profitable quarters, ie electric vehicle manufacturing companies, and the positive trend may continue if lower-priced vehicles become a larger percentage of total sales.
The Nasdaq 100 the index rose 0.09% to a record high, boosted by high – capitalization stocks such as Tesla (+ 2.21%), Alphabet (+ 1.33%) and Amazon (+ 1.18%).
Daily performance of the Nasdaq 100 Top 10 stock – 26-07-2021
Source: Bloomberg, DailyFX
Looking to the future, China has its own industrial profits dominates alongside the economic dock US durables orders and CB consumer confidence. Meanwhile, traders are watching on Wednesdays FOMC meeting, which should take place at 18:00 GMT, tips on Fedi policy guidelines and an incentive curtailment schedule. Learn more at DailyFX calendar.
Asia and the Pacific markets the appearance is confusing on Tuesday. Futures in Japan, Australia, Hong Kong, Taiwan, Singapore and India are in green, while those in mainland China, South Korea, Malaysia and Thailand are in red.
The Hang Sengi index (HSI) fell more than 4% and Hang Seng ‘s technical index fell 6.5% on Monday due to fears of regulatory constraints in technology and the education sector. New oriental education (HK 9999) fell 47% after regulators announced a major overhaul of their education sector, banning school-based companies from making a profit, raising capital or going public. Increased regulatory risks dampened market sentiment and margin requirements of these most affected stocks, selling pressure may increase in an expanding market. The near-term outlook remains biased.
Nasdaq 100 indexTechnical analysis
The Nasdaq 100 index exceeded the resistance level of 14,950 – Fibonacci 261.8% extension. This is likely to increase short-term buying pressures and open the door to further upside potential in view of the 15,400. The MACD indicator is flat on an upward trend, suggesting that prices may be temporarily overbought and vulnerable to technical setbacks.
Nasdaq 100 index– Everyday Diagram
Technical analysis of the Hang Seng index:
The Hang Seng index broke under the floor of the “Dcending Triangle” pattern highlighted in the chart below. This suggests that the index may continue its downward trend as selling pressures intensify. Immediate support can be found from 26,200 – 61.8% Fibonacci retracement. The MACD indicator is below the neutral line, highlighting the downward momentum.
Hang Sengi index – Everyday Diagram
ASX 200 Technical analysis of the index:
The ASX 200 index trades in the tight range of 7230-7370, waiting for fresh catalysts to break through. The general trend is still bullish-biased, as indicated by successive higher and lower levels in the last few months. The main resistance level can be found at around 7500. The MACD indicator will start to form a bullish crossover, indicating that the bullish momentum may be increasing.
ASX 200 index – daily schedule
– Wrote DailyFX.com strategist Margaret Yang
Use the Comments or section below to contact Margaret @margaretyjy Twitter