A Big Week for Nasdaq Index as Key Companies Release Earnings

The Nasdaq index is the biggest index following technology
companies’ stock prices. The index is made up of the biggest technology
companies in the world like Apple, Microsoft, Facebook, and Google among
others. The combined market cap of the companies in the index is more than $10
trillion. This month, the hopes of a deal with China has pushed the index
upwards, rising by more than 15%.

This will be an important week for the index as its biggest
constituents release their quarterly earnings. Apple will be the first company
to release its earnings tomorrow. Investors expect it to release revenues of $84
billion and EPS of $4.17. It will be followed by Facebook and Microsoft, which
will release on Wednesday. It will be followed by Amazon, which will release
its earnings on Thursday.

The technology companies have been in the spotlight in
recent months as investors start to worry about growth in the industry. Apple
has recently slashed its guidance and outlook for its flagship iPhone products
while Facebook has been on the spotlight because of its privacy issues. There
have been calls to breakup the technology companies as their influence become
huge.

The Nasdaq index ended the week at $6757, which was slightly
lower than the intraday high of $6800. The price was along the 42-day EMA and
slightly lower than the 21-day EMA. The RSI has dropped from the overbought
level of 78 to 39. There is a likelihood that the index will make major moves
this week as investors receive earnings results from the key constituents.

The post A Big Week for Nasdaq Index as Key Companies Release Earnings appeared first on Forex.Info.