Wall Street closes mixed on Monday; Google jumps
InvestingOnline.com
23/07/2018, 21:42The US stocks market in the United States closed Monday with a mix between red and green numbers as investors were cautious on a quiet and low volume day. Technology shares rose to all-time highs on earnings expectations and releases.
The S&P 500 rose 5.15 points or 0.18% to close at 2,806.98. The technological component of the S&P 500 closed 0.5% positive to close at a record.
The Nasdaq Composite finished the day at 7,841.87 points after rising 21.67 points or 0.28%. On the other hand, the DJIA declined 13.83 points or 0.06% to finish the day at 25,044.28.
By sectors, the information technology rose 0.41% in the day, the financials advanced 0.41%, while the consumer discretionary closed 0.11% positive on the day.
Among the laggards, Energy was the biggest sector with losses as it closed 0.32% down on the day. The industrials sector declined 0.22% on the day, and the Utilities finished the day 0.21% negative on the day.
By companies, Alphabet reported a big earnings beat and investors ran to buy the $GOOG shares. Google parent company Alphabet reported adjusted earnings per share of $11.75, well above the expected $9.59.
Revenues came at $32.66 billion versus $32.17 billion expected by the market. Google jumped more than 5% after-hours and settled to about 3.5% up during the Google’s earnings call.
Google said revenue, excluding traffic costs paid to partners, rose 25% to $26.24 billion.
Google technical analysis
Google daily chart July 23
Google shares closed Monday with a 1.10% gain amid earnings speculations; After hours, the unit rose 3.7% to price at 1,255.92, all-time high.
The alphabet share has been trading in consolidation mode between 1,185.00 and 1,205 since July 13; however, today’s release propelled the unit to fresh highs above the 1,205.00 area.
Technical conditions are bullish for the Google share with moving averages pointing to the north, MACD confirming the upside, and momentum suggesting a strong uptrend.
Above the 1,205.00 area, the Google share will find next resistances at 1,225.00 and 1,300.00. To the downside, the unit of Google needs a close below the 1,185.00 to suggest a breaking point. Below that, 1,150.05, the 50-day moving average at 1,130 and the 200-day MA would act as buying areas.
