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Nasdaq 100 Futures Rebound on Amazon Earnings, APAC to Open Combined


Nasdaq 100, Hold Seng Index, ASX 200 INDEX OUTLOOK:

  • Dow Jones, S&P 500 and Nasdaq 100 indexes closed -1.45%, -2.44% and -4.22% respectively
  • Amazon surged 14% throughout after-hour commerce because it posted file gross sales regardless of rising prices
  • Asia-Pacific markets look set to open combined amid uneven US earnings. Merchants eye tonight’s NFP report

Amazon Earnings, Hong Kong Reopen, US Jobless Claims, Asia-Pacific at Open:

Wall Avenue equities tumbled on Thursday as Fb worn out 1 / 4 of its market worth following a dismal This autumn earnings report. In the meantime, Amazon – the final FAANG firm to report outcomes – has posted a big earnings beat, and its share worth popped 14% throughout after-hours commerce. US fairness futures rebounded consequently, setting a combined tone for Asia-Pacific markets on the open.

Amazon’s earnings per share (EPS) got here in at $5.80, far exceeding analysts’ forecasts of $3.57. The corporate additionally registered a $12 billion achieve from its funding in electrical car firm Rivian. Its This autumn income hit a file of $137.Four billion, reflecting a robust vacation purchasing season amid Covid-related stimulus. One other shiny spot is its commercial enterprise, which grew 32% YoY to $9.7 billion through the quarter. The corporate gave a lower-than-expected income goal of $112-117 billion for the primary quarter, however traders seem to stay assured about its outlook. Amazon’s diversified enterprise mannequin could assist it to navigate future challenges together with rising labor prices and provide chain points.

All the 5 FAANG corporations, alongside Tesla, have reported their This autumn outcomes. Netflix and Fb have largely disillusioned traders with lower-than-expected ahead steerage and consumer development, whereas Tesla, Apple, Google and Amazon have delivered stellar outcomes. A divergent earnings image underscores a difficult surroundings for tech giants to take care of development momentum amid rising prices and the gradual exit from the pandemic. Demand for digital units, items and electrical automobiles stays strong although.

Prime 10 Shares by Market Cap within the Nasdaq 100 Index 03-02-2022

Nasdaq 100 Futures Rebound on Amazon Earnings, APAC to Open Mixed

Supply: Bloomberg, DailyFX

In the meantime, weekly preliminary US jobless claims information got here in at 238ok, in comparison with a 245ok estimate. A lower-than-expected print underscores tight labor market circumstances, placing right now’s nonfarm payrolls report within the highlight.

Market individuals have forecasted a 150ok improve in January’s nonfarm payrolls, however some companies predicted an as a lot as 400ok decline. Earlier, the ADP report exhibits that the non-public sector slashed 301ok jobs final month attributable to rising Covid-19 circumstances and a wider slowdown in enterprise circumstances. If the nonfarm payrolls report finally ends up with an enormous miss, it could alleviate considerations surrounding the Fed’s coveragetightening and lead the US Dollar decrease.

US Weekly Jobless Claims

Nasdaq 100 Futures Rebound on Amazon Earnings, APAC to Open Mixed

Supply: Bloomberg, DailyFX

Asia-Pacific markets look set to open combined on Friday following a unstable session on Wall Avenue.The Hong Kong market will reopen right now after the Lunar New 12 months vacation. Mainland bourses stay closed and can open subsequent Monday. Futures in Japan, Singapore, Malaysia and Thailand are within the purple, whereas these in Australia, Hong Kong, South Korea, Taiwan, India and Indonesia are within the inexperienced.

Trying forward, the USnonfarm payrolls report dominate the financial docket alongside Canadian unemployment price. Discover out extra from the DailyFX calendar.

Nasdaq 100 Index Technical Evaluation

The Nasdaq 100 index reversed decrease after bouncing from a key assist degree of 14,180. A direct assist degree might be discovered at 14,500 – the 78.6% Fibonacci extension. Failing to carry above this degree could result in a re-test of 14,180 for assist. The MACD indicator is trending decrease beneath the impartial midpoint, suggesting that near-term momentum stays weak.

Nasdaq 100– Every day Chart

Nasdaq 100 Futures Rebound on Amazon Earnings, APAC to Open Mixed

Chart created with TradingView

Hold Seng Index Technical Evaluation:

The Hold Seng Index (HSI) has seemingly damaged a “Falling Wedge” sample from the upside, as highlighted within the chart under. Costs have since pulled again to check the higher trendline for assist. Holding above this degree could pave the way in which for a bullish development reversal with a watch on 24,900 for resistance. Subsequent assist degree might be discovered at 22,800. The MACD indicator shaped a bearish crossover, suggesting that bearish momentum could also be dominating.

Hold Seng Index – Every day Chart

Nasdaq 100 Futures Rebound on Amazon Earnings, APAC to Open Mixed

Chart created with TradingView

ASX 200 Index Technical Evaluation:

The ASX 200 index breached under the ground of a range-bound zone between 7,200 to 7,500, exposing the subsequent assist degree of 6,920 – the 61.8% Fibonacci extension. Costs are trying for a technical rebound this week with a watch on 7,080 for resistance. The MACD indicator is about to type a bullish crossover, suggesting that promoting strain could also be ebbing.

ASX 200 Index – Every day Chart

Nasdaq 100 Futures Rebound on Amazon Earnings, APAC to Open Mixed

Chart created with TradingView

— Written by Margaret Yang, Strategist for DailyFX.com

To contact Margaret, use the Feedback part under or @margaretyjy on Twitter





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