Top Stock Market News For Today October 26, 2021

Stock Market Futures Advance As Big Tech Earnings Take Center Stage

Stock market futures are steadily on the rise in early morning trading on Tuesday. Notably, the tech-heavy Nasdaq seems to have a lead on the other major stock market indexes now. Understandably, this would be thanks to growing investor optimism around the biggest names in tech reporting earnings this week. For some, the current movement in the tech industry would be baffling. After all, we are still amidst a global semiconductor chip shortage that has and continues to limit the business capacity of countless tech firms globally.

To help shed some light on this is Wedbush analyst Dan Ives. In a recent note, Ives said, “We continue to strongly believe despite the lingering black cloud chip shortage that 3Q tech earnings will be standouts this week thus helping drive the sector higher into year-end as the Street continues to underestimate the fundamentals of this multi-trillion digital transformation playing out among consumer and enterprise tech names.

Not to mention, there are an estimated 165 companies in the S&P 500 reporting earnings this week as well. Should the pattern of strong earnings figures persist, some would argue that the markets could continue to gain. As of 6:48 a.m. ET, the Dow, S&P 500, and Nasdaq futures are up by 0.33{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, 0.38{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, and 0.55{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} respectively.

Tesla Joins The $1 Trillion Market Cap Club After Massive Hertz EV Order

Safe to say, Tesla (NASDAQ: TSLA) seems to be starting this trading week on a hot streak. Throughout intraday trading on Monday, TSLA stock soared by over 12{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to close at record levels. In fact, the company’s shares hit an intraday high of $1,045.02 per share.

top electric vehicle stocks to buy now (tsla stock)

Now, for the most part, all this is due to several positive pieces of news from Tesla and regarding the company. Diving right into it, Tesla received an order for a whopping 100,000 electric vehicles (EVs) from car rental firm, Hertz. Should things go as planned, Tesla could be looking at a payout of over $4 billion from this order.

Additionally, the company is also looking to further optimize its EV manufacturing operations. According to Tesla, it is transitioning towards using lithium-iron-phosphate (LFP) batteries in its vehicles. In theory, LFP tech is much cheaper to produce while boasting more stability than conventional EV batteries. Also, the company topped new car sales figures in Europe throughout September according to automotive industry intelligence firm, JATO Dynamics. Topping all of this news is a massive upgrade and target price raise from Morgan Stanley (NYSE: MS) analyst, Adam Jonas. In essence, Jonas hit TSLA stock with an Overweight rating and a price target of $1,200. As such, investors could be eyeing TSLA stock in the stock market today.

[Read More] Top Reddit Stocks To Buy Right Now? 5 For Your Late 2021 Watchlist

Facebook Gains After Earnings Beat As Investors Buy Into Current Weakness

Among the tech titans kicking things off this earnings week is Facebook (NASDAQ: FB). In brief, the company posted an earnings per share of $3.22 on revenue of $29.01 billion for the quarter. This came in above estimates of $3.19 for earnings but fell short of revenue projections of $29.57 billion. Despite its somewhat mixed results for the quarter, Facebook continues to make strategic plays. To begin with, the company is adding $50 billion to its current stock repurchase program. This could be another factor explaining FB stock’s gains in pre-market trading today after a recent losing streak.

top social media stocks to watch (fb stock)

Even with the ongoing private document dump by whistleblowers, investors seem to see long-term growth potential in Facebook. Backing this up is CEO Mark Zuckerberg via the company’s earnings call after yesterday’s market close.

In it, Zuckerberg noted that Facebook is focusing strongly on its video Reels feature. He also added that “Reels has the potential to be something of that scale,” referring to Facebook’s flagship News Feed and Stories features. Given that it is considered by many as a competitor to the increasingly popular TikTok, the move makes sense. All this coupled with the company’s growing efforts in building the “metaverse” continue to build hype around FB stock now.

[Read More] Best EV Stocks To Buy Right Now? 4 In Focus

Alphabet Earnings On Tap After The Closing Bell

In other tech-related earnings news, Google parent company Alphabet (NASDAQ: GOOGL) is set to report its latest quarterly results after the closing bell. Now, thanks to its massive presence across numerous fields in the tech world, Google continues to dominate. This seems to be the case from its booming ad and consumer tech services to its major cloud computing division, Google Cloud.

best tech stocks (GOOGL stock)

For some perspective, the company raked in a total revenue of $61.88 billion in its second fiscal quarter. Furthermore, the firm also saw year-over-year gains of over 166{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in both its net income and earnings per share.

However, even with GOOGL stock holding on to year-to-date gains of over 55{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, analysts appear to be bullish on Alphabet. As it stands, Wall Street expects the tech giant to post an earnings per share surge of over 40{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year. Alongside this are projections of year-over-year gains of 37{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in total revenue and 50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in Google Cloud revenue. For one thing, there appears to be a focus on the company’s cloud computing division this quarter. Given the growing need for cloud computing services across the board, this would make sense. Regardless, investors would likely be tuning in their radars to GOOGL stock in the stock market now.

[Read More] Top Stocks To Buy Now? 4 Consumer Stocks To Consider

Notable Names Reporting Earnings Today

To highlight, there are plenty of big names posting their latest quarterly results today. This is apparent given the current lineup both in the pre and post-market hours. For starters, the likes of 3M (NYSE: MMM), General Electric (NYSE: GE), Raytheon Technologies (NYSE: RTX), Lockheed Martin (NYSE: LMT), and Eli Lilly (NYSE: LLY) are reporting before the opening bell.

Subsequently, most tech investors would be watching the post-market earnings closely today. This is because Microsoft (NASDAQ: MSFT), AMD (NASDAQ: AMD), Visa (NYSE: V), Twitter (NYSE: TWTR), Robinhood (NASDAQ: HOOD), and QuantumScape (NYSE: QS) are on tap. All in all, we could be looking at an exciting day in the stock market ahead.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Top Stock Market News For Today October 21, 2021

Stock Market Futures Ticked Lower Ahead Of Jobless Claims

U.S. stock futures edged lower on Thursday morning ahead of a string of earnings reports and economic indicators including jobless claims and home sales. Stocks have risen in recent days after stronger-than-expected earnings have eased concerns that sent markets lower at the start of fall. Of the 80 companies on the S&P 500 to have reported through Wednesday, 81{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} had topped expectations, according to FactSet.

We’ve gone through a period of hesitation that’s brought a bit of volatility but I think stocks will keep trending higher,” said Paul Jackson, head of asset allocation research at Invesco. He expects households to keep spending savings accumulated during the pandemic. 

On the economic front, investors will also be looking at the weekly jobless claims that are due at 8.30 a.m. ET. Meanwhile, existing home sales data are expected to have rebounded in September after an August slowdown. The home sales data will be available at 10 a.m. ET. As of 6:50 a.m. ET, the Dow, S&P 500, and Nasdaq futures are declining by 0.30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, 0.25{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and 0.17{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} respectively.

Bitcoin Rallies To Fresh Peak After ETF Launch

Bitcoin rallied to a record high when ProShares Bitcoin Strategy ETF (NYSEARCA: BITO) made its stock market debut on Tuesday. Now, anyone with a brokerage account will be able to buy and sell a Bitcoin-backed financial product on the stock market. Since the Bitcoin ETF made its debut, it topped $1 billion in trading volume on its first day. That makes it one of the top ETF debuts in history. And that has given rise to a fresh wave of bullish predictions. It’s worth pointing out that the largest cryptocurrency has more than doubled in price this year. 

The key here is whether we are able to establish support above $65,000 … If we can, the classic Q4 crypto rallies we’ve seen in most years could take bitcoin towards some of the loftier price predictions we’ve seen over the past several months. If sell pressure takes over, though, our next leg up could take a while to materialize.”- Jesse Proudman, CEO of crypto robo-advisor Makara.

After a successful debut of Bitcoin ETF, Valkyrie’s Bitcoin-linked ETF will be the second Bitcoin-backed ETF in the U.S. The Valkyrie Bitcoin Strategy ETF planned to trade under the ticker ‘BTF’ will debut on Friday. With so much enthusiasm surrounding Bitcoin ETF launches, will Bitcoin continue to swing upwards? 

[Read More] Best EV Stocks To Buy Right Now? 4 In Focus

Snap (SNAP) Earnings In Focus After The Stock Market Closes Today

Snap (NYSE: SNAP) is set to report its third-quarter financials after the stock market closes today. Investors are anticipating to see whether Snap can maintain its momentum when it releases its earnings results this evening. To recap, the company has beaten consensus estimates for revenues and earnings in recent quarters. That’s because the company’s strong niche and expansion into synergistic opportunities like augmented reality could help it maintain the bull run.

top tech stocks to watch (SNAP stock)

For the quarter ended September 30, the company projects that daily active users will climb to 301 million. It also expects revenue to grow between 58{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and 60{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. Snap’s performance is quite remarkable given that just a couple of years ago it was struggling to compete with rivals such as Facebook (NASDAQ:FB). The latter copied some of the features that Snap launched to lure its young audience.

As of late, Snap trades approximately 33 times sales. Now, that certainly doesn’t look cheap. But many investors are optimistic about the company’s growth and its potential in augmented reality (AR). The company’s management expects third-quarter sales to increase by up to 60{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to $1.1 billion. Meanwhile, adjusted EBITDA could come in between $100 million and $120 million compared to $56 million in the prior-year period. Considering all these, would you bet on SNAP stock ahead of its earnings?

[Read More] Top Reddit Stocks To Buy Right Now? 5 For Your Late 2021 Watchlist

Tesla (TSLA) Bucks Global Semiconductor Shortage With Record Revenue

Despite the global semiconductor shortages, Tesla (NASDAQ: TSLA) reported impressive results that largely beat estimates. The largest EV manufacturer continues to make waves with record deliveries even as supply challenges weighed broadly on the auto industry. Like some of you may have anticipated, the more affordable Model 3 and Model Y vehicles played crucial roles in driving third-quarter deliveries. However, quarterly revenue came in slightly short of consensus expectations. Investors appear to be responding to that, with TSLA stock trading slightly lower in pre-market trading today.

top electric vehicle stocks to buy now (tsla stock)

From the quarterly report, Tesla reported operating earnings of $2.1 billion, up 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} from its previous record earnings in the second quarter. Revenue rose 15{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to $13.8 billion, slightly below estimates. Meanwhile, earnings per share is 17{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} better than the consensus of analysts surveyed by Refinitiv.  Still, the company warned that the supply chain woes would still be a problem despite its success in overcoming those issues in the third quarter.

This year has been just a constant struggle with parts supply … We’re just basically limited by multiple supply chain shortages, like so many supply chains of so many types, not just chips … We should be through our severe supply chain shortages in ’23. I’m optimistic that that will be the case.“- Elon Musk, CEO of Tesla Motors

[Read More] Top Stocks To Buy Now? 4 Consumer Stocks To Consider

Notable Earnings To Watch In The Stock Market Today

As the third-quarter earnings season continues to ramp up, there is no shortage of earnings to take note of today. Should you be keen on jumping on pre-market earnings, there are plenty to choose from. For instance, we have notable names such as American Airlines (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), AT&T (NYSE: T) and Nucor (NYSE: NUE). Not to mention, consumer names like Crocs (NASDAQ: CROX) would also be in focus.

On the flip side, for those looking to track earnings after the closing bell, there are several on tap as well. These include the likes of Snap, Intel (NASDAQ: INTC) and  Chipotle Mexican Grill (NYSE: CMG). Whether it is keeping up with soaring crypto prices or digesting earnings and key economic data, investors have a lot to keep track of in the stock market today.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

HDFC Bank | IRCTC: Blame it on bull market! Why metal, auto stocks continue to rise

The euphoric period in the marketplace is pushed by liquidity and information move. It is not having cognisance of the reality that some sectors will get afflicted negatively by higher steel charges, says Kunj Bansal, CIO, Karvy Funds.


The metals uptick proceeds. Does the price pressures that a lot of industries are dealing with augur very well for steel shares?
Certainly, indeed it is and frankly it is very contrary to my anticipations. I was anticipating metal selling prices to peak out and that would have resulted in the peaking of the steel inventory charges as properly. But absolutely nothing occurred. What is far more astonishing also is that the sector is in this sort of a bullish temper. The euphoric stage in the marketplace is driven by liquidity and news stream. It is not getting cognisance of the fact that some sectors will get afflicted negatively by bigger metal price ranges.

For illustration, the automobile sector will evidently be influenced to the extent that their margins will be beneath tension but the industry is in these kinds of a period that it is not negatively punishing that sector. Perhaps there is a small little bit of underperformance or absence of participation, but not a sizeable fall down in their charges or a considerable underperformance. That is an even extra stunning phenomenon but likely these are the indications of the situations and the bullish marketplaces.

Now IRCTC went up by almost 7.5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. What to make of this?
This is a bull marketplace. In the case of IRCTC, there is no unfavorable news for each se but if I extend my horizon for the inventory to final six quarters or so enable us say from the time that Corona started out, there clearly was a major de-growth in top rated line and bottom line for the inventory simply because of the business not remaining there. But apart from for a few moments in in between, in the previous 6 quarters the marketplace has not punished the inventory and has not not taken discover of the stock.

So prolonged as the sturdy liquidity movement carries on, as extensive as the current market finds purchasers, it does not subject if there are intermittent hiccups in the general performance of the business enterprise as extensive as the company design is robust and we are comfortable with the financials and the pedigree of the promoters.

Of course, the liquidity influx in the current market as properly as the liquidity and/or shareholding sample of the individual inventory has also played a part in these kinds of conditions. These have been increasing markets with less sellers and extra purchasers. It is difficult to predict what will occur heading forward. The inventory keeps going up each and every working day and one can keep questioning what is going on to the valuation.

Do you assume HDFC Lender results can adjust the sentiment for the financials at significant?
I do not know if HDFC Bank will alter the sentiment but it is a make any difference of time as this is a soaring industry and it is not having cognisance of destructive things in the sector. Revenue has been coming in mostly from domestic traders and also from worldwide traders. So at some issue of time. The sector rotation and the stock rotation is bound to come into perform and the success have been reasonably fantastic and marginally much better than the expectation.

Also, there is underperformance there in the track record for the final 6, 8 months, it’s possible up to a 12 months. It is a make any difference of time in advance of the total sector as well as HDFC Financial institution arrive back into the limelight. It will appear again into the buying record of the traders.I agree with you that it is certain to happen.

Business News | Stock and Share Market News

















Moneycontrol


Moneycontrol PRO


Moneycontrol PRO



















Any sustainable move above 18,050 may cause momentum towards 18,100-18,200 levels, says Rajesh Palviya of Axis Securities..

Trade setup for Tuesday: Top 15 things to know before Opening Bell




Name Price Change {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Chg
Sbi 469.25 11.25 2.46
Ntpc 144.80 3.70 2.62
Nhpc 30.55 -0.05 -0.16
Indiabulls Hsg 241.80 0.90 0.37

Forum

Forum

YOUR OPINION

Which of these youngsters will score more runs this ipl?

Which of these youngsters will score more runs this ipl?

COMMENTS

Thank You for Voting