Analytics, News, and Forecasts for CFD Markets: stock news — 24-07-2018.

Major US stock indexes mostly rose on Tuesday, as strong quarterly results from Alphabet (GOOG) confirmed the expectations of a steady season of reports and caused rallies among technological stocks. The indices were also supported by the growth of quotations of the base materials sector.

In addition, investors were acting out data on the United States. As it became known, housing prices in the US rose by 0.2% in May compared to the previous month, according to the housing price index (HPI) from the Federal Agency for Housing Finance (FHFA). The previously reported increase of 0.1% in April was revised to 0.2%. FHFA monthly calculates HPI using information on housing prices from mortgages sold or guaranteed by Fannie Mae and Freddie Mac. From May 2017 to May 2018, house prices rose by 6.4%.

Meanwhile, US private sector companies demonstrated a robust growth in overall business activity in July, supported by improved economic conditions and another sharp rise in new orders. Taking into account the seasonal fluctuations, the consolidated issue index from IHS Markit for the USA reached 55.9 in July, slightly weakening from 56.2 in June, and became the lowest reading for three months. Nevertheless, the index remained well above the threshold of the neutral level of 50.0 and signaled the next reliable expansion of the total volume of production in the private sector.

Most of the components of DOW finished trading in positive territory (23 out of 30). The leader of growth was shares United Technologies Corporation (UTX, + 3.65%). Outsider were the shares of NIKE, Inc. (NKE, -1.44%).

Most sectors of the S & P recorded a rise. The base materials sector grew most (+ 1.5%), while the utilities sector showed the largest decrease (-0.4%).

At closing:

Dow 25,241.94 +197.65 +0.79%

S&P 500 2,820.40 +13.42 +0.48%

Nasdaq 100 7,840.77 -1.10 -0.01%

U.S. stock-index futures rose on Tuesday, as investors digested an upbeat batch of earnings.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Alphabet A (GOOGL) target raised to $1475 from $1350 at B. Riley FBR

Alphabet A (GOOGL) target raised to $1080 from $1050 at Pivotal Research

Alphabet A (GOOGL) target raised to $1456 from $1234 at Stifel

Alphabet (GOOG) target raised to $1400 from $1285 at RBC Capital Mkts

Alphabet (GOOG) target raised to $1450 from $1350 at Oppenheimer

Apple (AAPL) target raised to $232 from $214 at Morgan Stanley

3M (MMM) reported Q2 FY 2018 earnings of $2.59 per share (versus $2.58 in Q2 FY 2017), missing analysts' consensus estimate of $2.60.

The company's quarterly revenues amounted to $8.390 bln (+7.4% y/y), generally in-line with analysts' consensus estimate of $8.357 bln.

MMM fell to $198.00 (-0.42%) in pre-market trading.

Verizon (VZ) reported Q2 FY 2018 earnings of $1.20 per share (versus $0.96 in Q2 FY 2017), beating analysts' consensus estimate of $1.15.

The company's quarterly revenues amounted to $32.203 bln (+5.4% y/y), beating analysts' consensus estimate of $31.779 bln.

VZ rose to $51.80 (+2.07%) in pre-market trading.

United Tech (UTX) reported Q2 FY 2018 earnings of $1.97 per share (versus $1.85 in Q2 FY 2017), beating analysts' consensus estimate of $1.86.

The company's quarterly revenues amounted to $16.705 bln (+9.3% y/y), beating analysts' consensus estimate of $16.255 bln.

The company also issued guidance for FY 2018, projecting EPS of $7.10-7.25 (versus analysts' consensus estimate of $7.11 and prior guidance of $6.95-7.15) and revenues of $63.5-64.5 bln (versus analysts' consensus estimate of $64.72 bln and prior guidance of $63.0-64.5 bln.).

UTX rose to $132.50 (+2.42%) in pre-market trading.

Alphabet (GOOG) reported Q2 FY 2018 earnings of $11.75 per share (versus $5.01 in Q2 FY 2017), beating analysts' consensus estimate of $9.70.

The company's quarterly revenues amounted to $32.657 bln (+25.6% y/y), beating analysts' consensus estimate of $32.127 bln.

GOOG rose to $1,253.11 (+3.95 %) in pre-market trading.