Beat the street: Netflix; J&J; GE; 3M; Halliburton
Traders digest a wall of earnings ahead of key central bank meetings. GE posts higher profit on strong demand for engine parts. 3M’s Q4 performance exceeds earnings and cash flow expectations.
(Partial Video Transcript)
Bitcoin tumbles below $40,000 level
Hello, I'm Angeline Ong, and welcome to beat the street, the show that gives you all the tradeable news ahead of the Wall Street Open.
Coming up, US stocks are cautioned, seen with Netflix, General Electric, Procter & Gamble and Johnson & Johnson earnings on deck.
Crude futures rise 2% on supply disruptions in Russia and the US. However, we're seeing signs of this rise ease now.
And crypto stocks falling as Bitcoin sits below the $40,000 mark.
Volatility index surprisingly low
Good afternoon, a warm welcome to this new edition of beat the street. I'm Angeline Ong. Not long now before Wall Street starts trading, let's have a look at the volatility index because it is still remarkably low after, as you can see here, various attempts to break past that 15.4 level.
Quite a lot of momentum going on there. If you look at the MACD as well, it shows you that there's a lot of volatility. Currently still, it is around the 14.2 mark. And that trend channel, let me widen that out for you, still in a slight downward trend.
But as you can see here, it has tried breaking out of that 15.8 mark, 16 mark around there. And if we see it break through, then perhaps we could see it go towards the other highs at about 21 seen last October. However, it's quite far from that at the moment.
Subdued start for Wall Street
Let's have a look at Wall Street for you as well ahead of the Open because it is looking like quite a subdued upstart. Not a surprise really, given we have Microsoft, Apple, Intel - some of the biggest names in tech - about to report in the coming sessions.
Investors also looking out for the personal consumption expenditure (PCE) and also the S&P Global producer price index (PMI) reading and advanced fourth-quarter (Q4) 2020 print for possible clues on the Federal Reserve's thinking ahead of the next policy decision.
Now, of the S&P companies that reported results until Friday, 84.6% have surpassed earnings expectations compared with the 93% beat seen in the week prior to that. This is according to LSEG data.
[...]
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
