World shares near five-month high as earnings season begins this week

13.07.2020 - Kulakov Vladimir
World shares near five-month high as earnings season begins this week

On Monday, world shares edged towards a five-month high and the U.S. dollar decreased in late trading as investors anticipated that the earnings season would see most companies beat revenue forecasts in light of the lifted coronavirus restrictions.

The U.S. earnings season would begin this week including major Wall Street banks such as JPMorgan (JPM) and Citigroup (C).

According to the Refinitiv data, it’s expected to be the second-biggest quarterly earnings drop since 1968.

“There’s a view that the bar has been set pretty low for them to report the almost obligatory ‘better than expected’ results – the absence of forwarding guidance from many firms notwithstanding,” National Australia Bank’s Head of FX Strategy Ray Attrill said.

“Ongoing grim U.S. COVID-19 infection news continues to be summarily ignored in favor of ongoing optimism regarding the time-line for the discovery and rapid roll-out of an effective vaccine and more policy support for asset prices and the U.S. economy,” he added.

Wells Fargo (WFC) would start to report on Tuesday.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?