Markets React to Earnings & Economic Data: Insights on E-mini S&P and NQ

E-mini S&P (December) and E-mini NQ (December). Yesterday’s close for S&P: Settled at 5871.00, up 9.50. Yesterday’s close for NQ: Settled at 20,690.50, up 199.50. Earnings and economic data are at the forefront. Last night, Alphabet exceeded estimates and is up 6% before the bell, driven by strong growth in its cloud business and controlled spending. On the other hand, AMD is down 8% after a disappointing Q4 outlook. This morning, Eli Lilly missed estimates and cut profit guidance, and is down 10% premarket. AbbVie is up 1.5% after surpassing estimates, while Caterpillar is down 3% after missing top and bottom. (Blue Line Capital owns GOOG and ABBV). Regarding the economic calendar, the private ADP Payrolls survey, a precursor to Friday’s Nonfarm Payroll report, surprisingly beat expectations at 233k compared to the expected 110k. Last month’s figure was revised from 143k to 159k.
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The markets responded to recent earnings and economic data with the first glimpse of Q3 GDP showing a lower-than-expected 2.8% growth rate, compared to the anticipated 3.0%. Core PCE Prices for Q3 were slightly higher at 2.2%, up from 2.1%, but down from Q2’s 2.8%. Meanwhile, PCE Prices came in at 1.5%, which was below the expected 2.7%. Pending Home Sales data is scheduled for release at 9:00 am CT.


Following a sharp initial decline at the opening bell, E-mini S&P and E-mini NQ futures experienced a steady rise throughout the session. Technology stocks led the way, with the E-mini NQ surpassing resistance levels, only to settle right at the adjusted mark.


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Markets React to Earnings & Economic Data: E-mini S&P and NQ Insights


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Markets React to Earnings & Economic Data: E-mini S&P and NQ Insights


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