empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
21.10.2021 03:03 PM
US premarket on October 19: US stock market one step away from yearly high and Tesla shares fall after Q3 report
Open trading account Open demo account

Futures on US stock indices declined in early trading on Thursday after the Dow Jones Industrial Average index rose to a record high in the trading session on Wednesday amid strong earnings reports of US companies included in the index. Dow Jones futures were down by 104 points or 0.2%. S&P 500 futures also declined by 0.2% and Nasdaq 100 futures lost 0.3%.

The Dow Jones index jumped about 150 points yesterday, surpassing its highest level since mid-August of this year. However, it has not reached yearly levels yet. The S&P 500 Index gained 0.4% increasing for the sixth day in a row. The index closed 0.2% below its all-time high.

Investors continue to closely monitor this year's third-quarter reporting season to estimate earnings growth and to understand how pricing pressures and supply chain disruptions will affect earnings for the rest of the year. According to Refinitiv, among the 70 companies in the S&P 500, 86% reported earnings exceeding analysts' expectations.

Strong fundamental data on the US labor market are expected today. It may show a decline in the Unemployment Claims index for the sixth week in a row. Even if the weak data is released, nothing will spoil investor sentiment more than a new wave of COVID-19. The US may not be as seriously affected like European countries, but the fact that another strain of coronavirus, which is more contagious than the Delta variant, has emerged indicates that there are serious problems ahead for the health sector this winter. The new strain may push the risks of a pandemic to a higher level, which could weaken Wall Street's appetite for stocks later in the year.

So far, the market is performing well, and a small downward correction after the weekly rally will not hurt it for sure. Before we talk about the technical picture, let us look through the premarket and see what caused the major impact there and what the news was.

Premarket

IBM shares lost more than 4% in the premarket trading after the news of revenue shortfalls in the third quarter. Two major business segments: global services and the cloud and cognitive software business failed to meet the estimates of economists and investors.

This image is no longer relevant

Tesla shares slipped about 1% during the premarket trading even after the electric car maker reported record earnings and revenue in the third quarter. All the data exceeded economists' forecasts. For sure, the company's stock, which had been pushed up even before the report was released, was clearly overvalued by the market.

This image is no longer relevant

AT&T gained 1.5% in the premarket trading after a report showed the company outperformed economists' earnings estimates by 9 cents. The revenues were also above analysts' forecasts. The company noted fairly strong demand for its phone and Internet services, as well as HBO and HBO Max.

Crocs reported an increase of 11.1% in its stock during the premarket trading after adjusted quarterly earnings of $2.47 per share, compared with the consensus forecast of $1.88. The shoe maker's revenues also exceeded forecasts, with online sales rising by 69%.

The US Food and Drug Administration cleared Johnson & Johnson and Moderna's Covid-19 vaccine booster shots yesterday. It was an important step in the revaccination of millions of people. Despite this, Moderna shares lost 4.5% in the premarket.

This image is no longer relevant

Unilever, one of the world's leaders in the food and household products market, gained 1.3% in the premarket after its quarterly results were reported to be better than expected. The company was able to take advantage of the inflationary spike and raised prices in time to help it offset higher production costs, which had little effect on its revenues.

As for the S&P500 Index technical picture

This image is no longer relevant

The index is an inch away from breaking through the yearly high at $4,551. However, first of all, the price has to be above support at $4,512. A pullback below $4,512 may put heavy pressure on the index, which is likely to drag it down to $4,470 and pave the way to $4,428, where there might be more investor activity.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Forecast
USDJPY: Simple Trading Tips for Beginner Traders on March 24th (U.S. Session) Trade Analysis and Tips for Trading the Japanese Yen The levels I outlined were not tested during the first half of the day. The volatility seen immediately after the release
Jakub Novak
17:13 2025-03-24 +02:00
1345
Forecast
GBPUSD: Simple Trading Tips for Beginner Traders on March 24th (U.S. Session) Trade Analysis and Tips for the British Pound The test of the 1.2935 level occurred when the MACD indicator had already moved significantly above the zero line, which limited
Jakub Novak
17:10 2025-03-24 +02:00
1165
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

S&P 500: from euphoria to collapse

The wave of optimism that swept through US stock markets following Donald Trump's re-election turned out to be short-lived. Euphoria quickly gave way to a deep correction amid escalating trade
Anna Zotova 13:55 2025-03-24 UTC+2

US stock market on March 24: SP500 and NASDAQ gathering steam in light of news on tariffs

Today, US and European stock futures are trading higher amid signs that the next round of tariffs from President Donald Trump may be more restrained than expected. Investors responded positively
Jakub Novak 10:42 2025-03-24 UTC+2

US market attempts to rebound. Prospects of US strike against Iran support oil prices

S&P 500 Overview for March 24 The US market is attempting to rebound Major US indices on Friday: Dow: +0.1%, NASDAQ: +0.5%, S&P 500: +0.1%,S&P 500: 5,667, trading range: 5,500–6,000
Jozef Kovach 10:15 2025-03-24 UTC+2

Stock Market Outlook for March 21st: S&P 500 and NASDAQ Under Pressure Again

At the close of yesterday's regular trading session, U.S. stock indices ended in the red. The S&P 500 fell by 0.22%, while the Nasdaq 100 lost 0.33%.Asian stock indices also
Jakub Novak 10:46 2025-03-21 UTC+2

US market in consolidation phase. Trump seeks Senate backing for Iran strikes

S&P 500 Overview for March 21 The US market entered a phase of consolidation on Thursday as it struggled to define its next direction. Major US indices on Thursday
Jozef Kovach 10:10 2025-03-21 UTC+2

Federal Reserve throws lifebuoy to stock market

The wave structure on the 24-hour chart for #SPX is fairly clear. The first and most important point is the large-scale five-wave structure, which is so wide that it barely
Chin Zhao 09:21 2025-03-21 UTC+2

US market rallies as Fed holds rates steady

S&P500 Overview for March 20 The US market rallied as the Fed left interest rates unchanged. Key US indices on Wednesday: Dow: +0.9%, NASDAQ: +1.4%, S&P 500: +1.1% (S&P
Jozef Kovach 11:19 2025-03-20 UTC+2

US stock market on March 20: S&P 500 and Nasdaq regain their footing

US stock indices ended the day with solid gains. The S&P 500 climbed by 1.1% and the Nasdaq 100 closed 1.41% up. At the moment, S&P 500 futures
Jakub Novak 09:30 2025-03-20 UTC+2

S&P 500 Forecast for March 20, 2025

The S&P 500 experienced a positive trading session yesterday and has started today on a strong note. However, the entire rally since March 14 still appears to be a correction
Laurie Bailey 03:37 2025-03-20 UTC+2

US market overview: pullback after growth. Focus on Fed. No rate change expected

S&P 500 Market overview on March 19 US Market: Pullback. Consolidation. Focus on Fed. Major US indices on Tuesday: Dow -0.6%, NASDAQ -1.7%, S&P 500 -1.1%, S&P 500 5,614, range
Jozef Kovach 10:57 2025-03-19 UTC+2

Top analytics

Relevance up to 02:00 UTC--4
EUR/USD: Simple Trading Tips for Beginner Traders on March 24. Review of Yesterday's Forex Trades
09:12 2025-03-24
Forecast
Relevance up to 02:00 UTC--4
GBP/USD: Simple Trading Tips for Beginner Traders on March 24. Review of Yesterday's Forex Trades
09:13 2025-03-24
Forecast
Relevance up to 05:00 UTC--4
XAU/USD. Analysis and Forecast
11:25 2025-03-24
Fundamental analysis
Relevance up to 04:00 UTC--4
GBP/USD. March 24th. The British Pound Starts the New Week at Full Speed
12:25 2025-03-24
Technical analysis
Relevance up to 00:00 UTC--4
How to Trade the EUR/USD Pair on March 24? Simple Tips and Trade Analysis for Beginners
07:08 2025-03-24
Trading plan
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.