The record run of the DAX continues: the leading German index marks a new all-time high at 13,739 points. The old record from the end of January is history again. The strong US stock exchanges play a major role in this rally as well.
Since the start of the year, the price has more than doubled. You can credit much of the increase to the seemingly boundless enthusiasm of Tesla’s supporters. But the haters appear to be playing a role, too. After betting that the company would fail, many seem to be cutting their losses and that is actually pushing the share price even higher.
Facebook (Nasdaq:FB) will report fourth-quarter 2019 results on Wednesday, January 29, after market close. The company is expected to have generated $28.9 billion in revenue and post $2.52 of earnings per share. Facebook stock recovered during 2019 after a weak 2018 for the company due to regulatory investigations and multiple data leakage issues. Although Facebook’s problems are far from over and CEO Mark Zuckerberg warned about the difficult upcoming year, the company continues to be stable in its revenue flow. Facebook announced that new users are still added to their apps and that as many as 2.8 billion people already use at least one of their services on a monthly basis.
Current Trend: Bearish
Relevant Key Levels: Resistance at 1.0833 and 1.1059. Support at 1.0725 and 1.0625
Current Trend: Bullish
Relevant Key Levels: Resistance at 111.000 and 112.400. Support at 109.700 and 108.400
The recent deepening of US – Iran conflict, following the killing of Iranian general Qasem Soleimani by a US air strike on January 3rd 2020, sent the global markets in turmoil. Iran’s response of bombing two US-Iraqi airbases early this morning only facilitated to further increase the geopolitical tension.
Naturally, besides the logical rise of Oil prices, Gold has gained the most attention, rising 4% in this period through 1600 USD an ounce, for the first time since 2013.
After weeks of negotiations, the two car groups Fiat-Chrysler and PSA decided on a $ 50 billion mega-merger. The merger is expected to be completed in the next twelve to 15 months. The companies would sell around 8.7 million vehicles, generate more than 180 billion euros in sales and employ almost 410,000 people worldwide. Together, Fiat Chrysler and Peugeot would be in fourth place worldwide behind Volkswagen, Toyota and the alliance of Renault and Nissan.
76% of S&P 500 companies had reported a positive earnings per share for Q3 while 61% of them had reported a positive revenue surprise. Over the past five years 72% of S&P500 companies have beaten earning per share estimates while 59% have beaten revenue estimates. That speaks to the continued health of many companies during a quarter when trade tensions were rising, overseas economies were struggling, and corporate executives were growing pessimistic about the U.S. economy.