Markets Update 25/10/2023
Market Overview
Good morning, today is October 25th, and I’d like to provide you with a summary of the most significant events in the financial markets.
Yesterday was a positive day for American indices. The S&P gained 0.72%, Dow Jones 0.62%, and Nasdaq 0.97%. Asian markets also closed higher, with Nikkei up 0.67% and Hong Kong rising by about 0.5%.
Let’s continue with the Markets Update 25/10/2023. This morning, markets are slightly negative, with DAX losing around 0.20% and the French index down by 0.24%. Bitcoin exceeded $35,000 after a year, with optimism in the cryptocurrency market due to potential SEC approval of a Bitcoin-related ETF.
The Eurodollar dropped below 1.06 to 1.0580, and in the bond market, the 10-year yield returned to 1.48% from last week’s 5%.
As for American indices today, we see a mixed picture. Dow Jones futures are up by 0.01%, while Nasdaq is down by approximately 0.72%, and S&P 500 shows a similar trend.
Earnings | Markets Update 25/10/2023
This week is critical for investors, with major US companies releasing earnings results. Coca-Cola reported strong results, with an earnings per share of 0.74, exceeding expectations and a 3% stock increase.
Verizon also reported slightly better-than-expected results, with earnings per share of 1.22, driving a 10% stock increase due to increased wireless customer base.
Microsoft and Google both exceeded expectations with excellent results. Microsoft’s profits increased by 27% compared to the previous year, driven by Azure Cloud growth. Microsoft’s stock is on the rise.
Alphabet (Google) exceeded earnings expectations but disappointed in the cloud sector, leading to lower-than-expected revenues and a decrease in Alphabet’s stock.
Visa presented positive results, with earnings surpassing expectations and an increased dividend. The company also announced a stock buyback program. However, market reactions appear mixed.
Today’s earnings | Markets Update 25/10/2023
Today, we are anticipating data from Meta, T-Mobile, IBM, and ServiceNow, which could further impact the markets. Stay tuned for more updates.
