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This week and the next one the world’s top companies will report their first quarter earnings. Will the leading firms remain leading under the coronavirus pressure? Let’s start with Google.
Advertising generates roughly 70% of the Google’s total revenue. And these days many companies have stopped advertising their products and services, as they lost their customers amid the coronavirus spread and they can’t afford it anymore, especially travel and hospitality industries. Paid clicks make nearly 20% of the Google’s revenue. Looking at the proportions, even higher volumes of users could hardly offset the drop of the advertising revenue. This might be a signal for an upcoming way down. Anyway, we will see its performance in its earnings report on April 28 at 23.30 MT time.
Let’s look at the chart below to know where is the Google stock now. It declined by 500 dollars from February 20 to March 23. Then it reversed and now its price is 1268 dollars. That is near 50% Fibonacci retracement level. Resistance line is 1333. Support line is 1211.
Check the economic calendar and catch the market momentum right on time!
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Last week was not full of events, but we still saw decent moves in the charts of majors, S&P500, NASDAQ, oil, and crypto. The upcoming week will bring even more volatility to your favorite assets!
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
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