The worse-than-expected earnings may press Walmart down!
European shares bounce back
On Tuesday, European stocks stepped higher because financial experts told that worries were abating over whether the Trump administration will be capable of pushing through pro-growth reforms in the world’s number one economy or not.
The Stoxx Europe 600 index SXXP edged up 0.3%, being worth 376.05, soaring after Monday’s sag of 0.4%.
On Monday, the pan-European benchmark edged down along with equities worldwide after a Republican overhaul of the American health care system fizzled, bolstering concerns over Trump’s other business-friendly plans.
Financial markets are calm today as Hussein Sayed, FXTM’s chief market strategist revealed in a note. US tax reform, infrastructure spending as well as deregulation turns to be less likely now, though traders are still giving Donald Trump the benefit of the doubt.
However, if they see these plans will face the same fate as the health care act, financial markets will soon get down to aggressive selling.
Twitter reported encouraging earnings results. Cisco's earnings beat estimates, but revenue declined for the fifth quarter in a row.
Stocks rise and drop on their earnings reports. Let's review those which reported recently.
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.