Wall Street Focus: Big Tech and Multinational Industrials

Wall Street Focus: Big Tech and Multinational Industrials

$AAPL, $KO, $CAT, $AMZN, $MCD, $BA, $OIL, $SOY

FLASH: Earnings season continues with companies including: Amazon.com, Alphabet, Unilever, Caterpillar, Coca-Cola, McDonald’s and Boeing.

Monday, technology shares led gainers among US stocks following mixed sessions in Europe and Asia as investors looked ahead to a busy week of corporate earnings.

Crude Oil gained amid tensions in the Persian Gulf.

Apple rallied after Morgan Stanley boosted its price target, while Micron Technology was lifted to buy from neutral by Goldman, as were Lam Research and Applied Materials.

The DJIA finished flat to little changed.

Stocks slipped throughout Asia, led by declines in Shanghai and Hong Kong as traders watched escalating tensions there.

US Treasuries advanced after traders pared bets the Federal Reserve will slash rates by a half-point this month.

This week we will start to get results from some of the big multi-national industrials and tech firms, which will shed more light on the effects of the trade dispute and therefore could move markets on a broadly.

Crude Oil rose Monday, posting its biggest gainer in more than a week, after Iran’s seizure of a British tanker fueling concerns of a confrontation that could disrupt Middle East petroleum supplies.

Investors will focus on earnings this week for signs of economic slowdown and any indication that trade strife is affecting companies’ bottom lines.

On the trade front

Chinese state media reported face-to-face negotiations with the US may resume soon, as Beijing considers a plan to boost American Soybean purchases to sweeten a deal. It is good to see this Key element restarting.

The GBP slumped after a forecast showed BREXIT may have already pushed the UK into a technical recession, and as Conservative Party members vote on new leadership.

Here are some Key events coming this week, as follows:

  • Earnings season continues on with companies including: Amazon.com, Alphabet, Unilever, Caterpillar, Coca-Cola, McDonald’s and Boeing.
  • UK Prime Minister Theresa May’s successor will be announced Tuesday, with Boris Johnson expected to become the new Conservative leader and PM.
  • Thursday brings the European Central Bank policy decision. Economists widely expect officials to signal their readiness to cut interest rates and potentially broaden stimulus. Some see the chance of an immediate rate cut. ECB President Mario Draghi holds a briefing afterward.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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