Tin tức thì trường

U.S. stock-index futures dropped on Wednesday, as investors digested the Q2 earnings report from the U.S. largest car manufacturer General Motors (GM; -3.9%) and weaker-than-expected private-sector jobs report from ADP.

Global Stocks:

FXStreet notes that S&P 500 is expected to see a deeper push into the zone at 4436/56. Nevertheless, economists at Credit Suisse continue to look to not chase strength through here for now and look for a “summer consolidation/correction” to emerge. 

“Weakness has yet again been contained by high-level support from the recent low, the price gap from last Friday morning and 13-day exponential average at 4381/64. This keeps the immediate risk higher for a more concerted push into our Q3 objective zone at 4436/56, also trend resistance from April.” 

“Whilst we continue to view the core trend as bullish, our bias remains not to chase strength through here for now and for a ‘summer consolidation/correction’ to emerge. We have to acknowledge though the strong underlying momentum and a close above 4456 would see the immediate risk stay higher for a move to the psychological 4500 level next.” 

“Near-term support moves to 4410, then 4398, with key still the 4386/64 zone."

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Chevron (CVX) downgraded to Hold from Buy at DZ Bank; target $110

General Motors (GM) reported Q2 FY 2021 earnings of $1.97 per share (versus -$0.50 per share in Q2 FY 2020), beating analysts’ consensus estimate of $1.85 per share.

The company’s quarterly revenues amounted to $34.200 bln (+103.8% y/y), beating analysts’ consensus estimate of $29.657 bln.

The company also raised its FY 2021 EPS guidance to $5.40-6.40 from $4.50-5.25 previously versus analysts’ consensus estimate of $6.90.

GM fell to $55.95 (-3.33%) in pre-market trading.

Amgen (AMGN) reported Q2 FY 2021 earnings of $4.38 per share (versus $4.25 per share in Q2 FY 2020), beating analysts’ consensus estimate of $4.01 per share.

The company’s quarterly revenues amounted to $6.526 bln (+5.2% y/y), beating analysts’ consensus estimate of $6.451 bln.

AMGN closed Tuesday’s trading session at $244.08 (+1.79%).

Lyft (LYFT) reported Q2 FY 2021 loss of $0.05 per share (versus -$0.86 per share in Q2 FY 2020), better than analysts’ consensus estimate of -$0.25 per share.

The company’s quarterly revenues amounted to $0.765 bln (+125.5% y/y), beating analysts’ consensus estimate of $0.700 bln.

The company also guided for Q3 FY 2021 revenues of $0.850-0.860 bln versus analysts’ consensus estimate of $0.869 bln.

LYFT rose to $55.94 (+1.01%) in pre-market trading.