S&P 500

Current trend

US stock markets continue to correct and this week their dynamics depends more on macroeconomic statistics than on financial data of companies. At the moment, the quotes of the S&P 500 index are correcting at 4479.0.

July data on inflation in the USA will be published today, and analysts assume that the indicator will return to growth after more than a year of downward dynamics, reaching 3.3% from 3.0% earlier, which somewhat alarms investors after a fairly successful reporting period. Despite the rather negative outlook, the indicator of the Chicago Mercantile Exchange CME FedWatch Tool assumes that the interest rate will remain at the September meeting with a probability of 86.5%.

Earlier, the financial report for Q3 was presented by the leader of the global entertainment industry, The Walt Disney Co., reflecting a decrease in revenue to 22.33B dollars, with preliminary estimates of experts suggesting 22.49B dollars in revenue. Earnings per share were fixed at 1.03 dollars, which was higher than the predicted 0.99 dollars and 0.93 dollars in the previous quarter.

Today, bidders will follow statistics from one of the world's largest companies in the field of online commerce Alibaba Group Holdings Ltd. And, probably, revenue will amount to 224.39B dollars, which is significantly higher than 208.2B dollars in the previous quarter, and earnings per share are expected at 14.73 dollars compared to 10.71 dollars earlier.

The growth leaders in the index are Axon Enterprise Inc. (+14.06%), Akamai Technologies Inc. (+8.47%), Fleetcor Technologies Inc. (+6.34%) and CF Industries Holdings Inc. (+4.42%).

Among the leaders of the decline are Nvidia Corp. (-4.72%), Paramount Global Class B (-4.46%) and Broadcom Inc. (-3.67%).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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