S&P 500 Approaches Record Highs, Netflix Declines Following Warner Bros Agreement: Market Updates for Friday
Market Performance: Major Wall Street indexes saw slight gains, with the S&P 500 up 0.2% and tech stocks rising 0.4%, amid expectations of a Federal Reserve interest rate cut next week.
Economic Indicators: The core Personal Consumption Expenditures price index showed a slight decrease in inflation, while consumer sentiment improved according to a University of Michigan survey.
Stock Movements: Adobe Inc. surged over 5% in anticipation of a strong earnings report, while Netflix Inc. dropped 3.5% following its acquisition of Warner Bros. Discovery, which faced allegations of a biased auction.
Earnings Reports: Ulta Beauty Inc. shares jumped 14% after exceeding earnings expectations, while DocuSign Inc. shares fell 6.5%. In the crypto market, Bitcoin slipped below $90,000.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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