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