Overnight Moves

Today, we looked at 13 charts; below are only a few. Join us in the morning call on Discord to see it all. Let’s have a look at the overnight moves. We saw a variety of results and consequences from yesterday’s earnings, with companies like Meta (META) dropping by over 7% in after-hours trading. Meanwhile others like Amazon (AMZN) and Qualcomm (QCOM) saw dramatic gains. Regarding commodities, we see Gold, Silver, and Platinum in the green. Oil in the meantime has grown by another 4.3%, nearly reaching $110, which, in conjunction with a weaker Rand, will put pressure on the consumer market.

For now, we’d like to remind you that both the U.S. and U.K. markets will remain open on Workers’ Day tomorrow. Meanwhile, China, the U.K. and Japan are closed on Monday (May 4th) due to local holidays.

S&P 500 Index

The index continues to trade near all-time highs, with very little upward or downward movement. But a look at the broader picture could cause concern, as the continuously rising oil price could have a large impact on the inflation rates, and by extension, the consumer markets. With that in mind, the graphs appear very top heavy, which makes it a difficult market to play with.

Tencent (700)

Tencent dropped by another 2.1% today, which puts pressure on Naspers (NPN) and Prosus (PRX), despite their good performances. While currently around HK$460, Tencent risks dropping further to HK$440, or even the HK$420 range. It remains to be seen if the company can turn its fortune with the earnings call, scheduled for Wednesday, May 26th.

Earnings

While not as dramatic as yesterday, today still has some interesting earnings to keep an eye out for.

Caterpillar (CAT)

Caterpillar is the world’s largest manufacturer of construction and engineering equipment. Their earning’s scheduled for premarket today.

Lilly (LLY)

Lilly is one of the world’s oldest pharmaceutical companies, and producers of drugs such as Prozac and Humilin. The company’s earnings are scheduled for the pre-market today.

Mastercard (MA)

Mastercard’s earnings report could be particularly interesting, as similarly to VISA (V) and Coca Cola (KO), it can be used to gauge the state of the consumers and consumer markets. Like the earlier, Mastercard’s earnings are scheduled for the pre-market.

Apple (AAPL)

Apple is one of the more stable tech-giants, and recently the change of CEO did not have any dramatic impact on the company’s shares. The company earnings are scheduled for today after-hours.

SanDisk (SNDK)

SanDisk is a tech manufacturer with a focus on memory storage devices, such as hard drives. The company’s earnings are scheduled for after-hours.

Western Digital (WDC)

Western Digital is another tech company, with specialisation in hard-drives. Together with Sandisk, they can show the state of the memory storage manufacturing part of the tech-sector. Its earnings are scheduled for after-hours.

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