Liz Truss (UK Prime Minister) In Deep Trouble | Procter & Gamble And Tesla Did Better Than Expected | Nestle Reported Its Strongest Sales Growth
Aa
Share
The market mood was rather bearish yesterday, as the major US indices gave back a part of the early week gains. The S&P500 slid 0.67%, Nasdaq gave back 0.85%, and the Dow Jones eased 0.33%.
Mixed earnings didn’t really help improve sentiment. One of the biggest gainers was Netflix which jumped 13%, but other FANG stocks, or MAMAA stocks did poorly on hawkish Federal Reserve (Fed) expectations.
Better than expected
Procter & Gamble did better than the earnings and revenue expectations, Nestle reported its strongest 9-month sales growth in 14 years, IBM beat analyst expectations, and boosted its full year profit forecast, and Tesla announced a better-than-expected earnings per share, but slightly missed on revenue expectations. Tesla shares slipped more than 6% in the afterhours trading.
Philip Morris and Dow are due to announce earnings today, American Express and Barclay on Friday.
Crude Oil
In energy, the barrel of American crude rebounded yesterday, after falling toward $82 earlier this week.
Politics
In politics, Liz Truss is really in a hot seat, as the chaos among the Tories got worse yesterday, after Home Secretary Braverman got fired for sharing confidential information.
Forex Market
In the FX, Cable continued falling, the EURUSD remains sold below the 50-DMA and the Japanese yen continues diving against the US dollar.
The situation of turkey
In central banks, Turkey is expected to cut its policy rate by another 100bp to 11%, which would push the Turkish inflation-adjusted rate down to -71.5%. But tell that to Mr. Erdogan!
Watch the full episode to find out more!
- 0:00 Intro
- 0:33 Market update
- 2:08 Mixed earnings: Tesla, Nestle, P&G, IBM
- 3:48 Growing EV competition
- 5:05 US crude rebounds, Exxon revised to Buy at Jefferies
- 5:52 ASML reports strong results, jumps 6%
- 7:06 Liz Truss in deep trouble
- 8:59 FX update: USDJPY tests 150 resistance, Turkey to cut
Ipek Ozkardeskaya
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
#Netflix #Tesla #Nestle #P&G #IBM #ASLM #earnings #hawkish #Fed #expectations #USD #EUR #JPY #GBP #TRY #gilt #sovereign #crisis #Bailey #BoE #Liz #Truss #Jeremy #crude #oil #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary
___
Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr
___
Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5
___
Let's stay connected: LinkedIn: https://swq.ch/cH
