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July 18, 2019, 9:33 a.m. EDT

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By Barbara Kollmeyer, MarketWatch

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Europe stocks /zigman2/quotes/210599654/delayed XX:SXXP +0.28% are down, while Asia /zigman2/quotes/211618636/realtime XX:ADOW +0.41% had a bumpy session.

The chart

Here’s another chart of the day that speaks of a resilient S&P 500, this time from Adam Kobeissi of The Kobeissi Letter . He sees a “near-term uptrend that currently stands at around 3,000 and should keep driving the markets higher.

Since the S&P has broken above 2,800, the Bollinger Band, which is a technical tool used to measure overbought or oversold conditions, has been signalling the former, and the Relative Strength Index (RSI) has risen above 70 multiple times.

“This is supposed to signal severe overbought conditions and ultimately a pullback,” Kobeissi said in an email. “However, markets are ignoring this and pullbacks are minimal and used as buying opportunities.”

Earnings

Healthcare group UnitedHealth /zigman2/quotes/210453738/composite UNH +0.97% and multinational Honeywell /zigman2/quotes/205583690/composite HON -0.71% have each reported upbeat results. Morgan Stanley /zigman2/quotes/209104354/composite MS -0.77% shares are now lower even after profit and revenue beats. It’s all eyes on Microsoft /zigman2/quotes/207732364/composite MSFT +1.84%  results after the bell (see preview).

Read: Videogame-streamer marks largest U.S. IPO by a Chinese company for 2019

Outside of Netflix, reporting late Thursday was tech giant IBM /zigman2/quotes/203856914/composite IBM +0.53%  disappointed with results and shares are down. EBay  /zigman2/quotes/204653455/composite EBAY +0.10% /zigman2/quotes/204653455/composite EBAY +0.10% shares are up after a forecast beat.

The buzz

Sen. Chuck Schumer has asked the FBI to probe whether the popular FaceApp software has Kremlin ties. Meanwhile are users ignoring the security risks of the how-you-age app?

Weekly jobless claims inched up, while the Philly Fed index rebounded to the highest level in July. Leading indicators are still to come. We’ll also hear from Atlanta Fed Raphael Bostic and New York Fed President John Williams.

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/zigman2/quotes/210599654/delayed
XX : STOXX
392.91
+1.11 +0.28%
Volume: 0.00
Sept. 20, 2019 2:11p
loading...
/zigman2/quotes/211618636/realtime
XX : Dow Jones Indices
3,212.09
+13.02 +0.41%
Volume: 0.00
Sept. 20, 2019 8:26a
loading...
/zigman2/quotes/210453738/composite
US : U.S.: NYSE
$ 232.85
+2.24 +0.97%
Volume: 2.73M
Sept. 19, 2019 6:30p
P/E Ratio
17.48
Dividend Yield
1.86%
Market Cap
$220.67 billion
Rev. per Employee
$754,157
loading...
/zigman2/quotes/205583690/composite
US : U.S.: NYSE
$ 166.77
-1.20 -0.71%
Volume: 1.95M
Sept. 19, 2019 6:30p
P/E Ratio
17.67
Dividend Yield
1.97%
Market Cap
$119.99 billion
Rev. per Employee
$366,763
loading...
/zigman2/quotes/209104354/composite
US : U.S.: NYSE
$ 44.02
-0.34 -0.77%
Volume: 6.48M
Sept. 19, 2019 6:30p
P/E Ratio
9.59
Dividend Yield
3.18%
Market Cap
$72.75 billion
Rev. per Employee
$831,709
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 141.07
+2.55 +1.84%
Volume: 36.10M
Sept. 19, 2019 4:00p
P/E Ratio
27.82
Dividend Yield
1.30%
Market Cap
$1077.13 billion
Rev. per Employee
$902,473
loading...
/zigman2/quotes/203856914/composite
US : U.S.: NYSE
$ 142.97
+0.75 +0.53%
Volume: 3.18M
Sept. 19, 2019 6:30p
P/E Ratio
14.78
Dividend Yield
4.53%
Market Cap
$126.65 billion
Rev. per Employee
$208,845
loading...
/zigman2/quotes/204653455/composite
US : U.S.: Nasdaq
$ 40.40
+0.04 +0.10%
Volume: 4.01M
Sept. 19, 2019 4:00p
P/E Ratio
15.78
Dividend Yield
1.39%
Market Cap
$33.89 billion
Rev. per Employee
$768,143
loading...
/zigman2/quotes/204653455/composite
US : U.S.: Nasdaq
$ 40.40
+0.04 +0.10%
Volume: 4.01M
Sept. 19, 2019 4:00p
P/E Ratio
15.78
Dividend Yield
1.39%
Market Cap
$33.89 billion
Rev. per Employee
$768,143
loading...

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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