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Microsoft, Alphabet earnings lift futures ahead of Fed decision

Thursday, July 28, 2022
Microsoft, Alphabet earnings lift futures ahead of Fed decision © Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2022. REUTERS/Brendan McDermid

(Reuters) - U.S. stock index futures rose on Wednesday as better-than-feared quarterly reports from technology giants Microsoft and Alphabet (NASDAQ:GOOGL) calmed investors ahead of a key U.S. interest rate decision later in the day.

The results lifted sentiment after markets closed sharply lower on Tuesday on a profit warning from top U.S. retailer Walmart (NYSE:WMT) and weak consumer confidence data.

Microsoft Corp (NASDAQ:MSFT) rose 3.8% in premarket trading on Wednesday after it forecast revenue would grow by double digits this fiscal year, driven by demand for cloud computing services.

Alphabet Inc added 3.5% as better-than-expected sales at Google search ads brought relief after social media firm Snap Inc (NYSE:SNAP)'s warning last week raised fears of a sharp ad market slowdown.

"A positive reaction from the latest quarterly numbers has been incredibly hard-won given the negative market sentiment surrounding broader tech," said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown.

Shares of other high-growth stocks including Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc and Apple Inc (NASDAQ:AAPL) also got a boost ahead of their earnings this week.

Megacap growth stocks have been hammered this year as the Federal Reserve raised interest rates aggressively to tame decades-high inflation. Future cash flows on which valuation of these companies rests are discounted heavily when rates rise.

Investors widely expect the U.S. central bank to increase interest rates by another 75 basis points later on Wednesday, with focus likely to shift to how deeply signs of an economic slowdown have registered with its policymakers.

Money market traders were even placing about a one-in-four chance the Fed would surprise markets with a larger 1-percentage-point increase, as per CME Group's (NASDAQ:CME) Fedwatch tool.

The decision is due at 2:00 pm ET (1800 GMT) and Fed Chair Jerome Powell's news conference half an hour later should elaborate on how the central bank views the recent economic data and at least hint at its next steps.

"Earnings may play second fiddle to the FOMC meeting tonight if the Fed surprises with more hawkishness than the market is pricing," Peter Garnry, head of equity strategy at Saxo Bank said in a note.

At 06:40 a.m. ET, Dow e-minis were up 136 points, or 0.43%, S&P 500 e-minis were up 34.75 points, or 0.89%, and Nasdaq 100 e-minis were up 175.25 points, or 1.45%.

PayPal Holdings Inc (NASDAQ:PYPL) jumped 5.7% after a report said activist investor Elliott Investment Management is building a stake in the fintech giant to push it to ramp up its cost-reduction efforts.

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16-08-2022 20:11:50 (UTC+7)

EUR/USD

1.0151

-0.0008 (-0.08%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (4)

EUR/USD

1.0151

-0.0008 (-0.08%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (4)

GBP/USD

1.2056

+0.0002 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

USD/JPY

134.49

+1.17 (+0.88%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.7008

-0.0014 (-0.20%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

USD/CAD

1.2891

-0.0013 (-0.10%)

Summary

Buy

Moving Avg:

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EUR/JPY

136.54

+1.09 (+0.80%)

Summary

Neutral

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EUR/CHF

0.9641

+0.0027 (+0.28%)

Summary

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Gold Futures

1,789.05

-9.05 (-0.50%)

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Silver Futures

19.992

-0.280 (-1.38%)

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Copper Futures

3.6210

+0.0035 (+0.10%)

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Crude Oil WTI Futures

89.19

-0.22 (-0.25%)

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Brent Oil Futures

94.70

-0.40 (-0.42%)

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Natural Gas Futures

9.242

+0.514 (+5.89%)

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US Coffee C Futures

222.88

-2.62 (-1.16%)

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Euro Stoxx 50

3,792.25

+2.63 (+0.07%)

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Buy

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Sell (1)

S&P 500

4,297.14

+16.99 (+0.40%)

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Neutral

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DAX

13,845.60

+28.99 (+0.21%)

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FTSE 100

7,543.60

+34.45 (+0.46%)

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19,830.52

-210.34 (-1.05%)

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US Small Cap 2000

2,020.40

+7.30 (+0.36%)

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IBEX 35

8,479.50

+52.50 (+0.62%)

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Neutral

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44.157

+0.097 (+0.22%)

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54.05

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179.40

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Adidas AG

170.63

-2.31 (-1.34%)

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Deutsche Lufthansa AG

6.720

-0.014 (-0.21%)

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Siemens AG Class N

111.38

-0.82 (-0.73%)

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Deutsche Bank AG

8.982

+0.040 (+0.45%)

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Moving Avg:

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 EUR/USD1.0151Buy
 GBP/USD1.2056↑ Buy
 USD/JPY134.49↑ Sell
 AUD/USD0.7008↑ Buy
 USD/CAD1.2891Buy
 EUR/JPY136.54Neutral
 EUR/CHF0.9641↑ Buy
 Gold1,789.05↑ Sell
 Silver19.992Buy
 Copper3.6210Neutral
 Crude Oil WTI89.19↑ Sell
 Brent Oil94.70↑ Sell
 Natural Gas9.242Neutral
 US Coffee C222.88↑ Sell
 Euro Stoxx 503,792.25Buy
 S&P 5004,297.14Neutral
 DAX13,845.60↑ Buy
 FTSE 1007,543.60Neutral
 Hang Seng19,830.52↑ Buy
 Small Cap 20002,020.40↑ Buy
 IBEX 358,479.50Neutral
 BASF44.157Buy
 Bayer54.05↑ Buy
 Allianz179.40↑ Sell
 Adidas170.63↑ Buy
 Lufthansa6.720Neutral
 Siemens AG111.38↑ Buy
 Deutsche Bank AG8.982Neutral
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# So hôm qua # Chênh TG
SJC Eximbank6,580/ 6,680
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SJC HCM6,600/ 6,700
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SJC Hanoi6,600/ 6,702
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SJC Cantho6,600/ 6,702
(-10/ -10) # 1,661
Cập nhật 16-08-2022 20:11:52
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ↀ Giá vàng thế giới
$1,775.13-3.35-0.19%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$89.19-1.34-1.50%
Brent$94.70-0.92-0.97%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.230,0023.540,00
EUR23.145,5524.441,71
GBP27.456,8428.627,78
JPY171,08181,12
KRW15,4318,80
Cập nhật lúc 18:54:08 16/08/2022
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