Would Apple Hire Less People? Netflix (NFLX) Earnings Are Released Today
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Market mood suddenly turned sour yesterday on news that Apple would slow hiring and cut spending in some businesses due to the recession fears, and Gazprom declared force majeure. The S&P500 reversed early-session losses and Apple lost more than 2%. Crude oil kicked off the week on a positive note, as Joe Biden’s visit to Saudi Arabia only served to escalate tensions between the two nations, instead of melting ice following Khashoggi’s murder in 2018.
Gazprom
Gazprom declared force majeure starting from June 14th on the back of a gas turbine, that is stuck in Canada following repairs due to sanctions. Canada said it will release the part, but the news suggests that there’s no chance of the turbine being returned before July 21, to allow Nordstream 1 operate again this Thursday. The EURUSD is better bid since Monday, not because there is more faith in the euro but, because the dollar is broadly softer. Today, we don’t have much on today’s economic calendar that would send the US dollar sharply higher, the FOMC members are also at their quiet period before next week’s meeting. So, what will matter are the next earnings. Today, Netflix will release its latest earnings, and will likely reveal further weakness in subscriptions.
Watch the full episode to find out more!
- 0:00 Intro
- 0:24 Sentiment reversed as Apple announced to slow hiring
- 1:22 Market update
- 1:47 Citi cut Apple price target
- 3:50 Goldman, BoFA results pleased
- 5:37 Crude oil gained on Biden’s failed Mid-East visit
- 7:15 Gazprom declared force majeure
- 8:34 EURUSD on softer dollar, but...
- 9:34 Netflix to reveal earnings
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. #Biden #Saudi #visit #Gazprom #force #majeure #Nordstream1 #pipeline #Russia #Ukraine #war #natural #gas #crude #oil #energy #crisis #USD #EUR #inflation #Fed #rate #hike #Apple #Goldman #BoFA #Netflix #earnings #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
