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DJIA Market Update

2/13/2023 1:41 PM

The Dow Jones index is correcting in the local trend, trading at 33795.0. Volatility in the US stock market remains at high levels due to the ongoing corporate reporting season.

One of the world leaders in the beverage industry, PepsiCo Inc. recorded a record quarterly revenue of 28.00B dollars, which exceeded both the projected 26.82B dollars and the previous quarter's figure of 21.97B dollars. Earnings per share amounted to 1.67 dollars, which also exceeded the consensus forecast at 1.65 dollars. One of the leading payment systems PayPal Holdings Inc. is also in the growth leaders, having reported quarterly revenue of 7.40B dollars, which exceeded the projected7.39B dollars. In addition, earnings per share were the highest in the company's history, amounting to 1.24 dollars with a forecast of 1.20 dollars. The company confirmed that after the departure of Dan Shulman from the post of chief Executive Officer on December 31, 2023, he will continue to work on the board of directors.

The growth leaders in the index are Chevron Corp. (+2.10%), Walgreens Boots Alliance Inc. (+2.07%), UnitedHealth Group Inc. (+1.75%).

Among the leaders of the decline are Salesforce Inc. (-3.82%), The Walt Disney Co. (-2.08%), Visa Inc. Class A (-0,94%).


On the daily chart, the index quotes continue their corrective dynamics, still trying to overcome the resistance line of the local Triangle pattern at 34150.0.

Technical indicators are in a weak buy signal, hinting at continued growth: the range of EMA fluctuations of the alligator indicator has begun to expand in the direction of growth, and the histogram of the AO oscillator forms new correction bars, being in the buy zone.

Support levels: 33444.0, 32487.0. | Resistance levels: 34150.0, 35266.0.

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