Heavy rains in Rio Grande do Sul state have caused rivers and lakes to hit their highest levels, killing 149 people and displacing some 538,000 others
uae3 hours ago
Coming off a buoyant session on Friday, when investors cheered a round of positive earnings from JPMorgan Chase & Co. and Wells Fargo Bank, the spotlight will remain on the banks. Citigroup is due to unveil its second-quarter earnings before the market opening bell.
“This should help to set the tone for much of the day,” said David Morrison, senior market strategist at GFT Markets.
Over the course of the week, around 90 companies listed on the S&P 500 are due to report earnings. They include Bank of America, Coca-Cola, Goldman Sachs, Google, IBM, Intel, Microsoft and Morgan Stanley.
“It is worth noting that earnings expectations have been massaged down again this quarter, so the majority of companies should once again hit analysts’ targets,” said Morrison. “Assuming that they do, then this reporting season should be uneventful.”
That appears to be the view in the markets, which started the week on a subdued note.
In Europe, the FTSE 100 index of leading British shares was down 0.2 percent at 5,654 while Germany’s DAX fell the same rate to 6,545. The CAC-40 in France was 0.4 percent lower at 3,169.
Wall Street was poised for modest losses at the open — both Dow futures and the broader S&P 500 futures were down 0.2 percent.
Besides earnings, investors this week will also monitor global economic indicators. Over the past month, evidence has accumulated that the three major drivers of the global economy — the US, Europe and China — are struggling.
Investors think there’s a higher likelihood that central banks will enact more easing measures to get the global economy going again.
Heavy rains in Rio Grande do Sul state have caused rivers and lakes to hit their highest levels, killing 149 people and displacing some 538,000 others
uae3 hours ago
'Let your hands talk in the ring. I am excited … let’s make history., said the Ukrainian Usyk after the official weight-in where the Briton avoided eye-contact with his opponent
sports3 hours ago
The first batch of students will be admitted in August or September
uae3 hours ago
Based on current regulations, car rental companies should replace manual vehicles after four years from the car's manufacturing date
transport3 hours ago
The autopsy also revealed that the 14-year-old had an enlarged heart, which could have contributed to his death
americas4 hours ago
One expat never wanted to live in a ground-floor apartment again after seeing how floods destroyed her home; another vowed to avoid units on higher levels after having to climb 12 floors down
uae4 hours ago
This initiative that aligns with the nation's continuation of 'Year of Sustainability', was supported by the parents of the kindergarteners
uae4 hours ago