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US dollar drops as the economy shrinks by 0.9% for the last quarter.

US economic data revealed last night shows that the country’s GDP has shrunk by 0.9%, although some are remaining positive that a recession may still be avoided. Despite the worrying figures, Federal Reserve Chair, Jerome Powell, outlined his belief that due to low unemployment figures of 3.6% and a strong market for jobs with 11 million job open...

July 29, 2022
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Mastercard beats Wall Street expectations

  Mastercard Incorporated (MA) reported its latest financial results before the opening bell on Wall Street on Thursday. The US financial services company reported revenue of $5.497 billion in Q2, beating analyst estimate of $5.267 billion. Earnings per share reported at $2.56 per share vs. $2.36 per share expected. ''We had strong...

July 29, 2022
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Equities, gold, crypto and oil soar, Dollar dumps as Powell tilts dovish

As expected, the Federal reserve hiked rates 75bp on Wednesday as the Fed battles to control record inflation whilst attempting to avoid a deep recession. Markets were relatively behaving as expected on the decision and statement up until the Fed chair Powell’s presser anyway. Whilst Powell reiterated the Feds mission to tame inflation stateme...

July 28, 2022
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Australian CPI figures increase to 6.1%

The Australian Consumer data was released today with Consumer Price Index rising to 6.1% over the past 12 months. For the quarter, the CPI rose by 1.8% which was 0.1% lower then what analysts expected the figure to be. This was also lower then the 2.1% jump seen in the previous March quarter. The most significant contributors to the increase were n...

July 27, 2022
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Microsoft falls short of expectations

Microsoft Corporation reported its fiscal fourth-quarter financial results after the closing bell on Wall Street on Tuesday, missing analyst estimates for the quarter. The company reported revenue of $51.9 billion (up by 12% year-over-year) vs. $52.384 billion expected. Earnings per share reported at $2.23 per share (up by 3% year-over-year) ...

July 27, 2022
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Coca-Cola tops estimates in the second quarter – the stock gains

The Coca-Cola Company (KO) reported its latest financial results for the second quarter before the opening bell in the US on Tuesday, beating Wall Street expectations for the quarter. World’s largest beverage producer reported revenue of $11.325 billion (up by 12% year-over- year) vs. $10.565 billion expected. Earnings per share reported at...

July 27, 2022
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Wall St tumbles on recession fears, the Fed in focus

US equities sold off throughout the session in risk-off trading with a backdrop of corporate warnings from heavyweights Walmart (WMT) and McDonalds (MCD) , weak economic figures and a downbeat tone from Europe as their gas squeeze continues. A larger than expected decline in U.S consumer confidence, down for a third straight month, saw the narra...

July 27, 2022
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Tech and Bitcoin drop, Oil and Gas jump in mixed US session

US stocks were mixed in a quiet session, the Dow and S&P 500 eked out small gains whilst against a backdrop of a the Federal Reserve meeting on Wednesday, the Tech heavy Nasdaq saw a modest decline. With a news quiet Monday behind us, there is a full calendar ahead with a slew of corporate earnings and of course the big one, the FOMC policy ...

July 26, 2022
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The Week Ahead – The FOMC, inflation and growth all in the spotlight

After a turn around in equity markets last week, where the S&P 500 was up over 2%, The Federal reserve will take centre stage this week along with a slew of inflation and growth figures coming out of developed economies looking to set the market tone. It’s a big week ahead for the US with the July FOMC meeting being the highlight, but also...

July 25, 2022
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Wall st rallies on tech lead, ECB turns hawkish, kind of

Tech stocks led US equities higher overnight, the Nasdaq rallied 1.3% making it three up sessions on the trot, led by tech heavyweights Amazon (AMZN) and a blockbuster session from Tesla (TSLA) which finished up almost 10% after a positive earnings report.   Weak US figures saw a drop in Treasury yields as rate hike expectations took a d...

July 22, 2022
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Philip Morris exceeds Q2 expectations – the stock gains

Philip Morris International Inc. (PM) reported its second quarter financial results before the market open on Wall Street on Thursday. World's largest tobacco company reported revenue of $7.832 billion in Q2 vs. $6.711 billion expected. Earnings per share reported at $1.48 per share, also beating analyst estimate of $1.25 per share. "First...

July 22, 2022
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Tesla delivers in Q2

Tesla Inc. (TSLA) announced its latest financial results after the market close on Wall Street on Wednesday. World’s largest automaker reported solid results for Q2 of 2022. Revenue reported at $16.934 billion vs. $16.539 billion expected. Earnings per share also exceeded Wall Street expectations at $2.27 per share vs. $1.81 per share es...

July 21, 2022
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US equities rally despite European pessimism , BOJ, ECB preview

The short squeeze continued in the US overnight as equites were well bid during the cash session seeing a second straight rise as slowly improving investor sentiment seeing the S&P 500 close up 23 points or 0.6%. In Europe, things were not so rosy , with political issues in Italy and fears of Russian gas being curtailed after the Nord Stream...

July 21, 2022
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Netflix results announced – the stock is up

Netflix Inc. (NFLX) reported its Q2 results after the closing bell in the US on Tuesday. The online streaming service company reported fairly positive results for the quarter, sending the stock price higher in the after-hours trading. The company reported revenue of $7.97 billion in Q2, narrowly missing analyst estimate of $8.026 billion. Ear...

July 20, 2022
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Johnson & Johnson results beat estimates

Johnson & Johnson (JNJ) reported its latest financial results for the second quarter before the opening bell in the US on Tuesday. The US pharmaceutical and consumer goods company reported revenue that topped the Wall Street expectations at $24.02 billion (up 3% year-over-year) vs. $23.771 billion expected. Earnings per share reported at ...

July 20, 2022
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