Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
The black gold looks set for the first weekly rise in three weeks
2020-09-18 • Updated
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair has breached the Kijun Sen level. Further bearish sentiment will push prices into lower ground.
European Market View
After yesterday's equity sell-off things are looking mixed in the Asian session this morning. US equity futures are flat, while many of the big Asian indices have erased the majority of losses that followed the opening hours. Interestingly, growth and technology stocks have clearly underperformed value post Wednesday's FOMC meeting.
Yesterday Bank of England kept monetary policy unchanged and signaled that it will not hike rates for a long period of time. Bank of England's discussion on negative interest rates weighed on the GBP.
EUR/USD started the day by moving lower due to the general risk-off after the slightly disappointing Fed meeting Wednesday night. EUR/USD recovered during the day and remains in the 1.17-1.19 range, which we expect the cross will continue to trade within near term.
Oil price. The black gold looks set for the first weekly rise in three weeks.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.