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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Beat the Street: US earnings dominate with GE, GM, Coca-Cola leading the gains

Traders seem to be happy taking the long side across the main Wall Street indices ahead of the open today.

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IGTV’s Jeremy Naylor explains that there is the longer-term risk to the downside but levels to watch suggest there may be some more gains before the next opportunity to sell.

General Electric, General Motors, and Coca-Cola are all higher all-sessions on the IG platform suggesting support for the upside. Also watch Microsoft and Alphabet after the bell this evening.

(Video summary)

Stock market updates and earnings reports insights

In this edition of "Beat the Street," Jeremy Naylor gives an update on the stock market and what to expect from upcoming earnings reports.

He covers big companies like General Motors (GM), Coca-Cola, and General Electric (GE). Let's break it down to make it easier to understand. First, GM has beaten expectations for the third quarter, but due to strikes by the UAW, they have withdrawn their profit guidance for the entire year.

On the other hand, Coca-Cola has surpassed forecasts and increased its outlook for the full year. As a result, their stock price has gone up. GE also did well, beating earnings and revenue estimates, and they have raised their outlook for the full year.

Jeremy thinks the market will see gains, but he warns against being overly optimistic for too long. He talks about technical indicators and potential risks that could bring the market down. However, he believes there could be some positive surprises if companies like IBM, Microsoft, Snap, and Alphabet release good earnings reports.

Dollar rebound: impact on stocks and value against euro and pound

Jeremy also looks at the performance of the dollar, specifically the dollar basket, which has rebounded after hitting a lower support line. He mentions that the dollar has gotten stronger against the euro and the British pound. He suggests that if interest rates go down, it could have a positive impact on stocks.

Moving on to specific stocks, Jeremy talks about GM withdrawing its profit guidance due to strike-related costs. Coca-Cola's third-quarter numbers are better than expected, and they have raised their forecast for the full year. GE has also raised its profit forecast for the third time this year because there is high demand for their jet engine parts. He also mentions that Microsoft and Alphabet will be releasing their earnings reports after the market closes.

Finally, Jeremy tells us about NVIDIA, a leader in computer chips for artificial intelligence. They are now designing central processing units for Microsoft's Windows operating system, which is a move to challenge Intel's dominance in the personal computer market. NVIDIA's stock is expected to do well today after a rise yesterday.

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. See full non-independent research disclaimer and quarterly summary.

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