Tesla jumps despite revenue miss, EUR/USD tests 1.0700 [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Tesla jumped despite missing earnings and revenue expectations, Apple eked out gains despite news of a 19% drop in Chinese iPhone sales. Texas Instruments rose on a bullish revenue forecast for the current quarter hinting at a slower decline in chip demand from industrials and car industry. Spotify rallied 11% after its CFO said that ‘historical price increases have had minimal impacts on growth’ Meta, Ford and IBM will report today.

The S&P 500 rebounded on Tuesday thanks to a decline in US yields following a set of lower than expected PMI figures from the S&P Global and a strong sale of 2-year treasury notes. The EURUSD jumped above 1.07 on the back of stronger-than-expected Eurozone PMIs and softer-than-expected US PMIs. The yen couldn’t maintain gains amid talk of direct intervention, the AUDUSD extended rally on stronger-than-expected inflation data.

Elsewhere, the FTSE 100 rose to a record high, while the Stoxx 600 gained ahead of European bank earnings.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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