empty
25.10.2023 02:14 PM
US premarket on October 25: US stock market momentum stalls

US stock futures opened lower following several failed attempts to break beyond the previous day's highs. The S&P 500 futures dropped by 0.2%, while the tech-heavy NASDAQ declined by 0.3%. The yield on 10-year Treasury bonds increased by four basis points, with the dollar strengthening against riskier assets. Rising bond yields continue to dampen risk appetite, as investors expect central banks to maintain tight interest rate policies.

This image is no longer relevant

Market pressure resumed after mixed quarterly earnings reports from Microsoft Corp. and Google's parent company, Alphabet Inc. These reports set the stage for potential challenges for similar firms announcing earnings this week.

Alphabet's shares dipped 7% in premarket trading due to lower-than-expected profits from its cloud division. Meanwhile, Microsoft's stock rose after its cloud business results surpassed expectations. Additionally, Texas Instruments Inc. shares plummeted following a bleak revenue forecast, suggesting soft demand for a broad range of electronic components.

Earnings season is in full swing, and investors are keen to see how companies are handling high interest rates and any resulting shifts in consumer spending. Today, an earnings report from Meta Platforms Inc., the parent company of Instagram and Facebook, is anticipated. Amazon.com Inc. will report on Thursday.

European indices also edged lower, as earnings from some of the region's top consumer and financial firms amplified concerns about a global economic downturn impacting corporate profits. Shares of Kering SA, owner of Gucci, fell due to declining sales amidst a broader luxury goods sector slump. Home goods producer Reckitt Benckiser Group Plc's shares also dropped when sales fell short of expectations. Worldline SA shares plunged over 50% – their most significant drop ever – after the French payment company downgraded its yearly outlook.

Meanwhile, Deutsche Bank AG shares surged 7.5%. The bank plans to accelerate shareholder payouts, citing higher revenues and deposit inflows offsetting weaker trading results in the third quarter.

This image is no longer relevant

Asian indices climbed after the Chinese government boosted its economic support, with the Hang Seng Tech Index adding 2.2%.

Brent traded flat after yesterday's dip, while West Texas Intermediate (WTI) slipped to $83. On Tuesday, the White House announced that the US and Saudi Arabia agreed to continue diplomatic efforts, easing concerns of significant disruptions in the oil market.

As for the S&P500 index, demand for the trading instrument has rebounded. Bulls should defend $4,229 and push the price to $4,268. This would counter the current downtrend and pave the way for a potential rally toward $4,304. Securing the $4332 level is also a key target for the bulls, strengthening their stance. If the index trends downward amidst dwindling risk appetite, bulls will have to protect $4,229. Breaking through this level, the index may tumble to $4,203 and $4,175.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

S&P 500 Forecast for March 14, 2025

Yesterday, the S&P 500 index reached its target support level of 5516, which corresponds to the peak observed on June 20, 2024. This level also aligns with the 23.6% Fibonacci

Laurie Bailey 03:53 2025-03-14 UTC+2

US stock market groping for support

S&P500 Market update on 13.03 Snapshot of benchmark US stock indices on Wednesday: Dow -0.2%, NASDAQ +1.2%, S&P 500 +0.5%, S&P 500 at 5,599, range 5,400 – 6,000 The S&P

Jozef Kovach 10:17 2025-03-13 UTC+2

Stock Market on March 13: SP500 and NASDAQ Gains Were Short-Lived

Futures for the S&P 500 and NASDAQ indices declined again following yesterday's unexpected U.S. inflation data, which revealed a slowdown in price pressures that contradicted economists' forecasts. Asian stocks also

Jakub Novak 08:28 2025-03-13 UTC+2

US market experiencing strong correction

S&P 500 Overview for March 12 The US market is experiencing a strong correction. US major indices on Tuesday: the Dow -1.1%, the NASDAQ -0.2%, the S&P 500 -0.8%

Jozef Kovach 11:36 2025-03-12 UTC+2

Stock Market on March 12th: S&P 500 and NASDAQ Hit Another Low

Futures on the S&P 500 index rose by 0.2% after losing 0.76% at the end of the previous day, while Nasdaq 100 futures added 0.3% after closing at -0.18%. Stocks

Jakub Novak 10:58 2025-03-12 UTC+2

Trump's meeting with Wall Street leaders set to stabilize market

Amid a sharp decline in US stock markets, President Donald Trump will meet with chief executives of major companies today as industry leaders try to navigate the uncertainty surrounding widespread

Jakub Novak 13:32 2025-03-11 UTC+2

Black Monday on Wall Street. US stocks lose $4 trillion in market capitalization

S&P500 Market review on March 11 US stock market suffers a crash. $4 trillion lost, but game not over yet Performance of benchmark stock indices on Monday: Dow: -2.1% NASDAQ

Jozef Kovach 12:14 2025-03-11 UTC+2

Market sees massive Monday loss. What's next for NVIDIA?

The markets are going through a rough patch, and the next few days will be crucial. If inflation data comes in higher than expected, the pressure on stocks could persist

Anna Zotova 12:11 2025-03-11 UTC+2

Stock Market on March 11: SP500 and NASDAQ Plunge More Than 5.0%

The stock sell-off continued yesterday but slowed during Asian trading hours today, contributing to a recovery in U.S. stock index futures, Treasury yields, and cryptocurrencies. However, market sentiment remains tense

Jakub Novak 09:03 2025-03-11 UTC+2

Stock Market on March 10th: S&P 500 and NASDAQ Extend Decline

Futures on U.S. stock indices fell during Monday's early trading session, while Treasuries advanced as concerns over the state of the U.S. economy dampened investors' risk appetite.S&P 500 futures dropped

Jakub Novak 12:58 2025-03-10 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.