This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Wall Street soars on optimism about quarterly outcomes
On Friday, equities of the USA rose because market participants waited for good quarterly reports of companies in the beginning of the reporting season, while American leader Donald Trump said that a military attack on Syria could not be done too soon, thus soothing fears of geopolitical tensions.
On Thursday, Trump wrote on Twitter that the attack on Syria, about the likelihood of which he announced the day before, could take place very soon or not at all soon.
Financial stocks rose by 1.8%, which is the highest outcome among the 11 main S&P sectors. Besides this, tech sector gained 1.3%.
The mood of investors also supported the good quarterly results of BlackRock Inc as well as Delta Air Lines Inc.
The profit of Delta exceeded forecasts, as a result of which the shares of the air carrier grew by 2.9%.
Paper BlackRock went up by about 1.5%, as the company's quarterly earnings in asset management also surpassed analysts' forecasts.
On Friday, the active phase of the reporting season will burst out: JPMorgan Chase&Co, Citigroup Inc as well as Wells Fargo&Co report on quarterly results.
Analysts expect that quarterly profits of S&P 500 companies will tack on by 18.4% in annual terms - as much as in seven years, according to Reuters.
The Dow Jones index rose 1.21% hitting 24,483.05, while the S&P 500 index added 0.83% showing an outcome of 2.663,99. As for the Nasdaq Composite index, it acquired 1.01% hitting 7.140.25.
Equities of Facebook Inc dived 1.5% having soared 5.3% in the two previous sessions. On Wednesday and on Thursday for up to 10 hours, the Head of the company Mark Zuckerberg answered the questions of American legislators in the Congress in connection with the scandal over unauthorized access to data of social network users.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.