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US open – Earnings, IMF, oil slump, gold, bitcoin
A dash of reality The last month has been much better than the one the preceded it for stock markets, but the rally may be running out of steam as earnings season brings us back down to earth. Results from the banks this week will provide a much clearer picture of the economic consequences of the coronavirus and what lies ahead. JP Morgan and Wells Fargo’s numbers were sobering, to say the least, while others this week may bring investors back to earth with a bang, starting with Goldman Sachs, Bank of America, Citigroup and Delta Air Lines today. There was no sugar coating from the IMF on Tuesday, either, as the ... (full story)
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From channelnewsasia.com | 4 min ago
Annual core inflation in Japan's capital accelerated in June, data showed on Friday, a sign of broadening price pressures from the Middle East conflict that keeps the central bank on track to consider further raise interest rates. "The impact of the Middle East situation is spreading primarily through energy, with a rise in crude oil prices since around ...
From economics.td.com | 54 min ago
After cooling for much of the past year, U.S. inflation has moved back onto a firmer footing. Headline CPI inflation accelerated to 4.2% y/y in May, the highest reading in three years (Chart 1). The most obvious culprit is the recent energy shock, with transportation fuel costs jumping following the conflict in the Middle East and the disruption to oil ...
From forex.com | 1 hr 30 min ago
The Australian dollar enters Q3 with the market's focus shifting away from geopolitics and back towards monetary policy and economic data. The Middle East conflict failed to become the sustained macro driver many feared, oil prices have retreated, and traders are once again weighing the relative outlook for the RBA and Fed. That shift comes at an awkward ...