Analisis Forex & Kajian: 04.11.2021 - US premarket for November 4:...

04.11.2021 02:04 PM

US premarket for November 4: US stock market hits all-time high after yesterday's Fed meeting. Moderna loses profits

The US stock index futures continued to trade near their all-time highs, updating them during Thursday morning trading after yesterday's comments by the Federal Reserve on further monetary policy. Investors did not express any worries when Chairman Jerome Powell spoke yesterday. According to the Central Bank Chairman's soft tone, markets demonstrated an uptrend. Powell said nothing new to satisfy traders.

The statement said the Central Bank would begin slowing down its bond buying program, signaling that the economy can now continue recovering on its own after a severe blow suffered due to the coronavirus pandemic. Notably, investors have been expecting this move for a long time and they approved that the Fed did nothing unexpected or more aggressive.

In a week, the S&P 500 was up 1.2%, gaining 24% yearly. As for yesterday's trading, the Dow Jones rose about 105 points, recording its fifth consecutive positive session. The S&P 500 also increased for the fifth straight day, rising by 0.65%. The Nasdaq Composite added 1.04% due to strong quarterly reports.

The fact that investors were worried about sharper comments of the Federal Reserve System representatives concerning the monetary policy had not much effect on the US stock market moods. Besides, the market continued its rapid growth, beginning in early October this year. The Fed's actions, on the contrary, were approved as they reinforced confidence that the economic recovery has a long and independent structure of stimulus measures. The Fed's announcement of a reduction in its bond-buying program is a signal of economic strength, which is useful for future corporate earnings and the market as a whole.

Bond purchases will slow by $15 billion a month. This means that quantitative easing should end by mid-2022. However, the Federal Reserve has been flexible in its statements, noting that the volume could change if necessary.

Now all investors' attention will probably turn to tomorrow's report from the US Department of Labor. The economy is expected to add 450,000 new jobs. In September, the growth totaled 194,000, which was much lower than the economists' expected estimate of 500,000. The strong data will allow the stock market to continue rising.

As for premarket movements and company news:

Qualcomm became the leader, rising by 7% due to record smartphone chip sales (up 56%). Qualcomm beat estimates by 29 cents with quarterly earnings of $2.55 per share. The company predicts strong growth driven by demand for 5G smartphone technology.

A well-known company, Booking Holdings, rose by 4.6% at the premarket after reporting better-than-expected earnings and revenue for the latest quarter. Parent company Priceline earned $37.70 per share, compared with the consensus estimate of $32.90.

Electronic Arts reported adjusted quarterly earnings of $1.49 per share, compared with an estimate of $1.17. EA also raised its full-year forecast amid stronger demand for sports games. Electronic Arts added 2.9% at the premarket.

MGM stocks rose nearly by 5% after the casino operator announced plans to sell the Mirage Casino in Las Vegas to another operator. However, the company noted that no agreement has been reached so far.

Moderna's stocks lost part of its value after the pharma company lowered its revenue forecast for the Covid-19 vaccine. The stocks fell by 12.1% in the premarket after a quarterly decline in both earnings and revenue. The earnings forecast for next year was also lowered. Moderna earned $7.70 per share in the latest quarter versus the consensus forecast of $9.05.

Technical picture of S&P500

There is an upward rally so far. Besides, it is too early to discuss any correction. It is quite possible that the market will change tomorrow and investors will take profit amid weak US labor market data. However, today it is possible to expect further growth. In case of a correction, support will be given at the level of 4,609. Moreover, its break will push the instrument to the lows of 4,551 and 4,512.

Anda telah pun menyukai siaran hari ini

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Jika anda mempunyai sebarang soalan berkaitan kandungan, sila hubungi editorial-board@instaforex.com

Stock Markets

Jakub Novak,
Pakar analisis InstaForex
© 2007-2025

Lebih banyak artikel daripada pengarang ini

Langganan E-mel

EURUSD

Euro vs US Dollar

Pilih carta masa

min

jam

hari

minggu

Mulakan dagangan

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.

Muat turun MetaTrader 4 dan buka dagangan pertama anda.

Artikel yang dicadangkan

Saham Menjunam Ketara Susulan Tarif Menyeluruh Tingkatkan Risiko Kemelesetan

Pasaran Saham AS pada 4 April: SP500 dan NASDAQ Alami Kerugian Besar

Kemaskini Pasaran Saham AS: Trump Laksana Tarif, Serang Perdagangan Global dan Gugat Pasaran

Pasaran Saham pada 2 April: S&P 500 dan NASDAQ Catat Paras Terendah Baharu bagi Tahun Ini

Pasaran AS menunjukkan ketahanan walaupun terdapat kebimbangan tarif dan kelemahan ekonomi

Kemas Kini Pasaran Saham AS pada 2 April: S&P 500 dan NASDAQ Kembali Kukuh Menjelang Acara Penting

Pasaran AS menjunam apabila tarif Trump menghakis keyakinan terhadap prospek ekonomi

Pasaran Saham pada 27 Mac: S&P 500 dan NASDAQ Menjunam Selepas Tarif Terbaru Trump

Pasaran Saham Amerika Syarikat Menunjukkan Pertumbuhan Sederhana

Kemaskini Pasaran Saham untuk 26 Mac: S&P 500 dan NASDAQ Terus Pulih Secara Berperingkat

Analisis terbaik