- Alphabet and Tesla stand ready to kick off Q3 earnings season
- Yesterday's star of the day Confluent appreciates 8.84% while outperforming its peers
- CAC surges to 6,040.66 (up 1.83%).
Before today's session: markets had an interesting day yesterday; S&P 500 closed the day at 3,678, having gained 2.65%. Nasdaq ended the session at 10,676 after a 3.43% gain.
US markets are currently closed but will resume today in around 6 hours time. Upbeat European markets ended yesterday higher as CAC surges by 1.83%, reaching 6,040.66. Asia-Pacific markets closed higher today whilst ASX 200 jumps to 6,779.2 (up 1.72%).
With Q3 earnings season getting underway, around 100% of US companies have beaten market estimates. This past week, UnitedHealth & TSM published their earnings reports while Alphabet and Tesla are scheduled to release their results in the coming days.
Today's rise takes place amid mixed market indicators — United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
Also worthy of note, United States Crude Oil Inventories expected to decline to 1.55 million while its preceding data was 9.88 million, data will be available tomorrow at 14:30 UTC.
Elsewhere, United States Philadelphia Fed Manufacturing Index (Oct) will be released Thursday. United States Existing Home Sales (Sep) is scheduled for Thursday.
While most stocks did well yesterday, some did better than others as Confluent trades at $24.26 having gained 8.84%. Playtika (up 8.46%) and Outbrain (up 7.14%) also performed well yesterday.
Confluent closes at $24.26 after gaining 8.84%
A possible change of direction spotted from yesterday; Confluent rose as high as $24.8 before giving up its gains and dropping back to $24.26 before the close on yesterday. The company has a market cap of $6.28 billion with an average daily volume of 2 million shares. So far in 2022, it has been under-performing the Nasdaq by 17.24%.
Outbrain closes at $4.2 after gaining 7.14%
Bullish sentiment helped Outbrain to hammer out a noteworthy $3.97 to $4.23 range yesterday, and finally closing at $4.2 to end the session. The company's market cap is $234.11 million with an average daily trading volume of 333,333 shares.