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News in Brief
Bloomberg:
- Treasuries rally with Fed not as hawkish as feared.
- Fed flags lack of inflation progress but signals hikes unlikely.
- Asian stocks decline as focus turns to Fed meeting.
- Wall Street hit by Fed jitters to close wild April.
MarketWatch:
- Fed’s Powell keeps the door open for a July rate cut.
- Opinion: Nvidia is chip sector’s only hope after AMD and Super Micro disappoint.
- Amazon earnings: Stock moves higher as AWS growth impresses.
- Super Micro earnings fail to live up to Wall Street’s hype.
- AMD boosts its outlook for AI revenue, but stock still falls.
- Pinterest’s stock soars 17% on big revenue and profit beat, 500 million monthly active users.
- Starbucks’s stock sinks 12% as ‘cautious’ consumers, more head winds hit profit, revenue.
yahoo! finance:
- Powell: Another hike is unlikely.
- Starbucks stock has worst day since March 2020.
- The latest sign not all chipmakers will see Nvidia-like growth.
The stock rally flips late after Fed decision. The futures however turned all positive for today.
Global Indexes
S&P 500
The S&P 500 closed with an inverted hammer candle below its 50 DMA and EMA8 lines after Powell’s speech.
DAX
The DAX was closed yesterday with a close on its 50 DMA on Tuesday.
HANG SENG
The HANG SENG resumed its positive trend today with a 2.1% gain.
NYSE & NASDAQ Stocks
Starbucks Corporation
Starbucks reported earnings miss just below its long-term negative trend line and paid a -15.9% penalty for doing so. It remains in all negative territory.
Amazon.com Inc
Amazon.com earnings impressed, but stock was held back by Powell speech. It did manage to close above its 50 DMA.
JSE Stocks
JSE All Shares
The JSE All Shares took a breather ahead of the public holiday in anticipation what will happen in the US.
Gold Fields Ltd
After a good rally the gold shares took the path downwards with Gold Fields leading the pack downwards.
Algomodel Strategies, Education & Features
Click on Education or go to the home page to view education posts.
Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.
All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.
