FXEMPIRE
All
Ad
Advertisement
Advertisement
Gerelyn Terzo
Add to Bookmarks
FILE PHOTO: The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New York City
FILE PHOTO: The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New York City

Stocks managed to move modestly higher with all three major indices extending recent gains. The S&P 500, Dow Jones Industrial Average and Nasdaq all finished the day with fractional gains. Tech stocks Amazon and Facebook were each up by more than 1% and helped fuel the Nasdaq higher.

Advertisement
Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

At this rate, stocks are on track for weekly gains after a bumpy start on Monday. Weaker than expected jobless claims data weighed on sentiment early on but it wasn’t enough to hold stocks down.

 

Investors have the Delta variant in the back of their minds, but they are feeling emboldened by the strong profits being reported by corporate America.

Stocks to Watch

Domino’s Pizza was one of the biggest winners of the day. The food-delivery chain saw its shares soar by 15% to a fresh all-time high. Domino’s Q2 results exceeded analyst expectations on the top and bottom lines.

The company has enhanced its menu with new items that are resonating with customers, especially as consumers spend more time at home. Domino’s plans to keep the momentum going with a USD 1 billion share buyback program.

The semiconductor sector stayed under pressure all day and the selling isn’t over. Intel is down 1.5% in after-hours trading after the company reported earnings. Investors fled on the heels of Intel’s weak Q3 sales outlook amid heightened competition in the space. Meanwhile, Texas Instruments shaved 5% off its value today due to a similarly weak sales forecast.

Twitter shares are up 5% in after-hours trading after Jack Dorsey’s company reported better than anticipated Q2 results. Among the surprises was Twitter’s revenue of USD 1.19 billion, up 74% YoY. Twitter grew the number of monetizable daily active users 11% YoY to 206 million.

Advertisement

Look Ahead

Dow stocks American Express and Honeywell are on tap to report their quarterly earnings on Friday, as is oil company Schlumberger. Shares of Schlumberger are trading 1% higher in extended-hours ahead of the company’s earnings results, which are expected before the opening bell on Wall Street.

The oil price has been volatile of late and USD 100 oil is looking more and more like a long shot. Barclays analysts say that while USD 100 oil isn’t off the table, it would be a stretch. Instead, they are predicting Brent oil to hover at an average of USD 69 per barrel and WTI at USD 67.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker