U.S. stock-index futures rose on Wednesday, as upbeat quarterly results from Disney (DIS; +6%) and several healthcare companies outweighed disappointing July private payrolls data from ADP and the stall in negotiations on the next coronavirus relief package. .
Global Stocks:
Index/commodity | Last | Today's Change, points | Today's Change, % |
Nikkei | 22,514.85 | -58.81 | -0.26% |
Hang Seng | 25,102.54 | +155.91 | +0.62% |
Shanghai | 3,377.56 | +5.88 | +0.17% |
S&P/ASX | 6,001.30 | -36.30 | -0.60% |
FTSE | 6,100.03 | +64.03 | +1.06% |
CAC | 4,932.86 | +43.34 | +0.89% |
DAX | 12,682.03 | +81.16 | +0.64% |
Crude oil | $43.12 | +3.41% | |
Gold | $2,048.80 | +1.38% |
FXStreet notes that S&P 500 strength stays on course to test the top of its February “pandemic” gap at 3328/38, but economists at Credit Suisse still believe this level will cap the index at first for a fresh consolidation phase. Meanwhile, the VIX is starting to move below key support and may be returning to “normal” levels.
“S&P 500 has held flagged high-level support at 3200/3198 and this keeps the immediate bias higher for a test on the top of the February gap at 3328/38. We continue to look for this to remain tough resistance for now for lengthier consolidation. A break in due course though should clear the way for a challenge on the 3394 record high.”
“Below 3200 would mark a minor top to reinforce the likelihood for further range-trading with support then seen back at 3128/16, which we would look to hold. A break though can see a retest of support from the 200-day average, currently seen at 3052, but with only a close back below here seen raising the risk we are seeing the construction of a potentially important top.”
“The VIX is moving below key support from the top of its 2019 range at 24.81/23.54 and a weekly close below here would be seen opening the door to more ‘normal’ conditions with support seen at 20 next.”
(company / ticker / price / change ($/%) / volume)
3M Co | MMM | 152 | 0.79(0.52%) | 2573 |
ALCOA INC. | AA | 13.9 | 0.23(1.68%) | 21356 |
ALTRIA GROUP INC. | MO | 41.7 | 0.10(0.24%) | 5268 |
Amazon.com Inc., NASDAQ | AMZN | 3,138.40 | -0.43(-0.01%) | 36540 |
American Express Co | AXP | 93.6 | 0.41(0.44%) | 11096 |
AMERICAN INTERNATIONAL GROUP | AIG | 29.91 | 0.19(0.64%) | 12901 |
Apple Inc. | AAPL | 436.5 | -2.16(-0.49%) | 553220 |
AT&T Inc | T | 30.12 | 0.11(0.37%) | 42627 |
Boeing Co | BA | 168 | 2.93(1.78%) | 165719 |
Chevron Corp | CVX | 88.25 | 1.76(2.03%) | 21175 |
Cisco Systems Inc | CSCO | 47.7 | 0.03(0.06%) | 11529 |
Citigroup Inc., NYSE | C | 50.6 | 0.46(0.92%) | 161055 |
E. I. du Pont de Nemours and Co | DD | 53.27 | 0.11(0.21%) | 410 |
Exxon Mobil Corp | XOM | 44.09 | 0.62(1.43%) | 78799 |
Facebook, Inc. | FB | 249.7 | -0.13(-0.05%) | 63911 |
Ford Motor Co. | F | 6.9 | 0.04(0.58%) | 298034 |
Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 13.26 | 0.31(2.39%) | 106552 |
General Electric Co | GE | 6.21 | 0.07(1.14%) | 425184 |
General Motors Company, NYSE | GM | 26.1 | 0.30(1.16%) | 25490 |
Goldman Sachs | GS | 203.65 | 2.01(1.00%) | 4612 |
Google Inc. | GOOG | 1,472.00 | 7.03(0.48%) | 6217 |
Hewlett-Packard Co. | HPQ | 17.95 | 0.06(0.34%) | 15668 |
Home Depot Inc | HD | 268.5 | 0.63(0.24%) | 2561 |
Intel Corp | INTC | 49.3 | 0.17(0.35%) | 262739 |
International Business Machines Co... | IBM | 126.35 | 0.51(0.41%) | 10099 |
International Paper Company | IP | 35.51 | 0.23(0.65%) | 364 |
Johnson & Johnson | JNJ | 149.96 | 2.74(1.86%) | 166265 |
JPMorgan Chase and Co | JPM | 96.5 | 0.95(0.99%) | 79851 |
McDonald's Corp | MCD | 199.56 | 0.20(0.10%) | 8326 |
Microsoft Corp | MSFT | 213 | -0.29(-0.14%) | 213714 |
Nike | NKE | 97.95 | 0.62(0.64%) | 8694 |
Pfizer Inc | PFE | 38.49 | 0.10(0.26%) | 1607572 |
Procter & Gamble Co | PG | 133.46 | -0.33(-0.25%) | 4327 |
Starbucks Corporation, NASDAQ | SBUX | 75.35 | 0.22(0.29%) | 69856 |
Tesla Motors, Inc., NASDAQ | TSLA | 1,489.07 | 2.07(0.14%) | 62967 |
The Coca-Cola Co | KO | 46.85 | 0.16(0.34%) | 37156 |
Twitter, Inc., NYSE | TWTR | 36.49 | 0.14(0.39%) | 16773 |
UnitedHealth Group Inc | UNH | 305.27 | 0.77(0.25%) | 14062 |
Verizon Communications Inc | VZ | 58.15 | 0.24(0.41%) | 7427 |
Visa | V | 192.65 | 0.36(0.19%) | 9689 |
Wal-Mart Stores Inc | WMT | 130.68 | -0.96(-0.73%) | 20952 |
Walt Disney Co | DIS | 124.57 | 7.28(6.21%) | 606145 |
Yandex N.V., NASDAQ | YNDX | 59.71 | 1.02(1.74%) | 11340 |
Apple (AAPL) downgraded to Neutral from Buy at BofA Securities; target raised to $470
Walt Disney (DIS) upgraded to Outperform from Neutral at Credit Suisse; target raised to $146
Walt Disney (DIS) upgraded to Buy from Neutral at Guggenheim; target $140
Walt Disney (DIS) reported Q3 FY 2020 earnings of $0.08 per share (versus $1.35 per share in Q3 FY 2019), better than analysts’ consensus estimate of -$0.64 per share.
The company’s quarterly revenues amounted to $11.800 bln (-41.7% y/y), missing analysts’ consensus estimate of $12.482 bln.
DIS rose to $124.80 (+6.40%) in pre-market trading.
| Index | Change, points | Closed | Change, % |
|---|---|---|---|
| NIKKEI 225 | 378.28 | 22573.66 | 1.7 |
| Hang Seng | 488.5 | 24946.63 | 2 |
| KOSPI | 28.93 | 2279.97 | 1.29 |
| ASX 200 | 111.5 | 6037.6 | 1.88 |
| FTSE 100 | 3.15 | 6036 | 0.05 |
| DAX | -46.11 | 12600.87 | -0.36 |
| CAC 40 | 13.59 | 4889.52 | 0.28 |
| Dow Jones | 164.07 | 26828.47 | 0.62 |
| S&P 500 | 11.9 | 3306.51 | 0.36 |
| NASDAQ Composite | 38.37 | 10941.17 | 0.35 |