CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Neil is chief market analyst for Markets.com and also writes for the Investors Chronicle as ‘The Trader’, with the daily market outlook published online each morning.
Week Ahead: Earnings Season Kicks Off
US markets have hit record highs but could the Q2 earnings season take the shine off stocks?
With two weeks to go until to earnings season begins, 82% of companies with revised earnings estimates going into the reporting period have revised them down. Lowballing by Wall Street before earnings season is normal, but the scale of the downward revisions has raised a few eyebrows. We saw the same thing ahead of the Q3 2018 earnings, just before stocks slumped into a bear market. Although that slump proved temporary, the pattern is worth noting. Earnings season unofficially kicks off with Citigroup on Wall Street on Monday and continues through to mid-August.
We’ll be hosting a daily walkthrough of what to watch out for on XRay covering everything you need to know from US earnings season.
In the UK, watch for trading updates from SSE, Thomas Cook, Anglo American and easyJet on Thursday.
China GDP – Will We See a Slowdown?
Macro data will be in focus this week as markets watch to see whether the slowdown in global growth is gaining pace.
Chinese GPD and industrial production numbers are due early Monday. Q2 growth is seen slowing to 6.2% from 6.4% in Q1. For the rest of the year economists think the economy will grow at 6.2%, this would mark a 30-year low for the country. While there are many factors at play, the ongoing trade war with the US must take some of the blame for the slowdown.
Australian employment data
Australia’s dollar looks likely to be sensitive to employment data this week, with traders looking for clues about when interest rates may be cut again. The Reserve Bank of Australia has tied monetary policy directly to the labour market. The RBA has already cut rates but the question is how many more are in the offing?
Its a busy few weeks with earnings season, and there are lots of reports coming out this week. Below are the major reports to watch out for this week.
Citigroup – Q2 Earnings
Johnson & Johnson – Q2 Earnings
JPMorgan Chase & Co – Q2 Earnings
Wells Fargo & Co – Q2 Earnings
Goldman Sachs – Q2 Earnings
Domino’s Pizza – Q2 Earnings
Bank of America Corp – Q2 Earnings
Netflix Inc -Q2 Earnings
Abbot Laboratories – Q2
IBM – Q2 Earnings
eBay – Q2 Earnings
Microsoft – Q4 Earnings
Philip Morris Inc – Q2 Earnings
Morgan Stanley – Q2 Earnings
Danske Bank – Q2 Earnings
BlackRock Inc – Q2 Earnings
American Express – Q2 Earnings
Don’t miss our expert analysis and insight live-streamed direct to your platform. We’ve got videos throughout the week – tune in live or watch on catch-up.
Live everyday this week
Earnings Season Daily Walk-through
Asset of the Day: Bullion Billions
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Asset of the Day: Indices Insights
Take a look at the upcoming events for your economic calendar. For a full list, head to our platform.
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