Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Earnings reports: finance sector
Earnings reports season: finance sector
This season of reports is supposed to be quite dramatic for the American stock market. While the jobs data is there, the macroeconomic indicators were announced, now it’s time for some raw data from the corporate world to reflect the virus fallout. There will be damage, the question is – how much? We are all longing to see it out. So let’s check our positions first.
April 14: JPMorgan (15:30 MT time).
April 15: Bank of America (15:30 MT time), Citigroup (17:00 MT time).
Devil in details
The giants of Wall Street will be the first this month to report their performance. Quite expectedly, they all experienced a similar drop from their all-time highs reached in December-January. JPMorgan reached $140, erased the gains at $80 (-42%), currently trades at $102 (+28%); Bank of America fell from roughly $35 per share to $18 (-48%), now it is at $25 (+38%); and Citigroup was at $82, dropped to $35 (-81%) and recovered to $47 (+34%). Technically speaking, Citigroup proved most vulnerable losing the greatest portion of its value, but it was quick to recover. The fastest to reconquer its gains was BAC, though, which didn’t take much damage either. That’s why Bank of America is suggested as the most well-weighed option among the three. JPMorgan would be the safest #2, followed by Citigroup as the third option to go for.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.