Analytics, News, and Forecasts for CFD Markets: stock news — 24-04-2018.

Major US stock indexes finished trading in negative territory amid a sharp fall in the shares of the so-called group of technology companies "FAANG", while the growth in yield on 10-year bonds also increased pressure on the market.

Investors also analyzed statistics on the United States. As it became known, housing prices in the US in February rose by 0.6% compared to the previous month, according to the housing price index (HPI) from the Federal Agency for Housing Finance (FHFA). The previously announced increase of 0.8% in January was revised to 0.9%. From February 2017 to February 2018, housing prices rose by 7.2%.

At the same time, the index of consumer confidence from the Conference Board grew in April, after a decline in March. The index now stands at 128.7 (1985 = 100), compared with 127.0 in March. The index of the current situation increased from 158.1 to 159.6, and the index of expectations improved from 106.2 last month to 108.1 this month.

In addition, the US Department of Commerce reported that sales of new homes increased by 4.0%, to a seasonally adjusted annual figure of 694,000 units. The sales pace in February was revised to 667,000 units from the previously announced 618,000 units. Data for January were also revised to show that sales remained unchanged, but not decreased. Economists predicted that sales of new homes increased by 1.9%, to 630,000.

Most components of the DOW index recorded a decline (24 out of 30). Outsider were shares of 3M Company (MMM, -6.91%). Leader of growth were shares of Verizon Communications Inc. (VZ, + 1.69%).

Almost all sectors of S & P finished trading in the red. The largest decrease was registered in the sector of industrial goods (-2.8%). Only the utilities sector grew (+ 0.2%).

At closing:

Dow 24,024.13 -424.56 -1.74%

S&P 500 2,634.56 -35.73 -1.34%

Nasdaq 100 7,007.35 -121.25 -1.70%

U.S. stock-index futures rose moderately on Tuesday, as Treasury yields eased, while strong quarterly results and full-year guidance from industrial heavyweights Caterpillar (CAT) and United Technologies (UTX) reinforced investors' optimism about the first-quarter earnings season.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Alphabet A (GOOGL) target lowered to $970 from $1040 at Pivotal Research Group

Alphabet A (GOOGL) target lowered to $1225 from $1275 at MoffetNathanson

Alcoa (AA) downgraded to Neutral from Buy at Citigroup

Freeport-McMoRan (FCX) reported Q1 FY 2018 earnings of $0.46 per share (versus $0.15 in Q1 FY 2017), missing analysts' consensus estimate of $0.56.

The company's quarterly revenues amounted to $4.868 bln (+45.7% y/y), missing analysts' consensus estimate of $4.923 bln.

FCX fell to $18.61 (-1.06%) in pre-market trading.

Verizon (VZ) reported Q1 FY 2018 earnings of $1.11 per share (versus $0.95 in Q1 FY 2017), in-line with analysts' consensus estimate.

The company's quarterly revenues amounted to $31.772 bln (+6.6% y/y), beating analysts' consensus estimate of $31.251 bln.

VZ rose to $50.00 (+2.75%) in pre-market trading.

Caterpillar (CAT) reported Q1 FY 2018 earnings of $2.82 per share (versus $1.28 in Q1 FY 2017), beating analysts' consensus estimate of $2.10.

The company's quarterly revenues amounted to $12.859 bln (+30.9% y/y), beating analysts' consensus estimate of $11.989 bln.

The company also raised guidance for FY 2018, projecting EPS of $10.25-11.25 (versus analysts' consensus estimate of $9.15), up from $8.25-9.25.

CAT rose to $160.25 (+4.07%) in pre-market trading.

3M (MMM) reported Q1 FY 2018 earnings of $2.50 per share (versus $2.16 in Q1 FY 2017), beating analysts' consensus estimate of $2.48.

The company's quarterly revenues amounted to $8.278 bln (+7.70% y/y), generally in-line with analysts' consensus estimate of $8.213 bln.

The company lowered guidance for FY 2018, projecting EPS of $10.20-10.55 (compared to analysts' consensus estimate of $10.54 and its prior expectation of $10.20-10.70) and organic sales growth guidance in the range of +3-4% y/y (compared to a prior range of +3-5% y/y).

MMM fell to $208.00 (-3.65%) in pre-market trading.

Travelers (TRV) reported Q1 FY 2018 earnings of $2.46 per share (versus $2.16 in Q1 FY 2017), missing analysts' consensus estimate of $2.69.

TRV fell to $133.84 (-2.47%) in pre-market trading.

United Tech (UTX) reported Q1 FY 2018 earnings of $1.77 per share (versus $1.48 in Q1 FY 2017), beating analysts' consensus estimate of $1.51.

The company's quarterly revenues amounted to $15.242 bln (+10.3% y/y), beating analysts' consensus estimate of $14.623 bln.

The company also raised guidance for FY 2018. It now sees EPS of $6.95-7.15 (compared to its prior estimate of $6.85-7.10 and analysts' consensus estimate of $7.05) and revenues of $63.0-64.5 bln (compared to its prior estimate of $62.5-64.0 bln and analysts' consensus estimate of $64.01 bln).

UTX rose to $126.99 (+2.86%) in pre-market trading.

Coca-Cola (KO) reported Q1 FY 2018 earnings of $0.47 per share (versus $0.43 in Q1 FY 2017), beating analysts' consensus estimate of $0.46.

The company's quarterly revenues amounted to $7.600 bln (-16.6% y/y), beating analysts' consensus estimate of $7.318 bln.

The company reaffirmed guidance for FY 2018, projecting EPS of ~$2.06-2.10 (+8-10% y/y) versus analysts' consensus estimate of $2.10.

KO rose to $44.40 (+0.96%) in pre-market trading.

Barrick Gold (ABX) reported Q1 FY 2018 earnings of $0.15 per share (versus $0.14 in Q1 FY 2017), beating analysts' consensus estimate of $0.14.

The company's quarterly revenues amounted to $1.790 bln (-10.2% y/y), generally in-line with analysts' consensus estimate of $1.805 bln.

ABX rose to $13.00 (+0.62%) in pre-market trading.

Alphabet (GOOG) reported Q1 FY 2018 earnings of $9.93 per share (versus $7.73 in Q1 FY 2017), beating analysts' consensus estimate of $9.28.

The company's quarterly revenues amounted to $31.146 bln (+25.8% y/y), beating analysts' consensus estimate of $30.283 bln.

GOOG rose to $1,075.00 (+0.71%) in pre-market trading.