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Friday, August 21, 2020

Alphabet Inc. Cl A stock underperforms when compared to competitors despite strong trading day

 Shares of Alphabet Inc. Cl A GOOGL advanced 2.05% to $1,576.25 Thursday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 0.32% to 3,385.51 and the Dow Jones Industrial Average DJIA rising 0.17% to 27,739.73. Alphabet Inc. Cl A closed $10.80 below its 52-week high ($1,587.05), which the company achieved on July 21st.

The stock underperformed when compared to some of its competitors Thursday, as Apple Inc. AAPL rose 2.22% to $473.10, Microsoft Corp. MSFT rose 2.33% to $214.58, and Facebook Inc. Cl A FB rose 2.44% to $269.01. Trading volume (1.3 M) remained 469,205 below its 50-day average volume of 1.8 M.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Apr 08
07:00 National Australia Bank's Business Confidence 1 -3 -2 Revised from -1
15:30 NFIB Business Optimism Index 1 97.4 101.3 100.7
18:25 Redbook Index (YoY) 1 7.2% 4.8%
19:30 Ivey Purchasing Managers Index s.a 2 51.3 53.2 55.3
19:30 Ivey Purchasing Managers Index 2 55.6 53.6
21:30 BoE's Lombardelli speech 2
22:30 3-Year Note Auction 1 3.908%
23:30 Fed's Daly speech 2
Wednesday, Apr 09
02:00 API Weekly Crude Oil Stock 1 6.037M
07:30 RBNZ Interest Rate Decision 3 3.50% 3.75%
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