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Money Flows for the last trading day of the week
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Loading...Nvidia, Applied Materials support technology shares
The technology sector is likely to receive the necessary support today thanks to the solid quarterly reports from the semiconductor sector.
Nvidia reported strong data, surpassing analysts' expectations. Their revenue amounted to $ 2.55 billion, which is above the $ 2.54 billion expected on Wall Street.
Shares of the company jumped 5.75% in the extended trade after the end of the session.
And Applied Materials reported fiscal second quarter - the results were also above expectations, which appeased investors' concerns. Shares jumped by more than 6.7%.
Michigan Consumer Sentiment is expected to rise
Consumer confidence data is the only economic indicator that can awaken the markets today.
University of Michigan will release the report at 17:00.
The user sentiment is predicted to record growth up to 97.8. But the expected component will drop to 86.8 according to forecasts.
How will oil end the week
Oil has a good chance of finishing another winning week today as bulls gain an advantage over the tensions between Saudi Arabia and Iran.
But for traders, the main question is how well the supply is balanced.
Again there will be news that analysts will have to report - Baker Hughes Oil Rig Count - at 20:00 hours.
Last week the values fell to 805 from 807 and are about 9% down for the year.
US stocks rose 5.4 million barrels in the past year, surprising the market, which expected a 800,000 barrel reduction. Last week, stocks fell nearly 4 million barrels.
According to IEA, due to weak demand, the global oil market is in surplus of 700,000 barrels in the first quarter, despite the surge of black gold by over 30%.
Combined with the worsening US-China relations and their impact on the global economy, the oil market sends mixed signals.
Trader Aleksandar Kumanov Read more:
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