The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
PepsiCo, Citi, BAC reporting - results preview
PepsiCo: better than the forecast
The EPS of $1.21 beats the expectation of $1.12; the revenue of $14.82bln beats the expectation of $14.55
The figures brought by PepsiCo are better than observers thought so the move will be likely bullish for this stock. However, the difference between the forecast and the actual data is not that big, that's why bulls won't be likely to push it much - most probably, the stock will rise above the 50-MA into the channel $143-145.
Bank of America: impressively good
The EPS of $0.86 beats the expectation of $0.66; the revenue of $22.9bln beats the expectation of $22.1bln.
The Bank of America's data by far exceeded the expectation, so bulls will likely push the price above the all-time high of $40.30 which is just 1% away from the last price when the market closed yesterday - $41 may be a possible target.
Citigoup: unexpected success
The EPS of $3.62 beats the expectation of $2.24; the revenue of $19.3bln beats the expectation of $18.82bln.
For Citigroup, most observers expected a pretty weak performance. Now, as the bank reports stronger data, its stock may well surge above the local highs of $74.25 and pick up a new uptrend towards $76.00.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
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.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).